Correlation of returns between the most traded Binance USDT perpetuals. Public data.
Check my positions
Type the coins you hold or plan to hold. The page tells you how much they move together and how many independent bets they are worth.
Most correlated pairs
Least correlated pairs
Least tied to Bitcoin
Correlation is computed on log returns over the chosen candles and changes over time: in a sharp sell-off most coins fall together, so real diversification is usually lower than the calm-market numbers suggest. It describes the past, not the future.
Crypto correlation matrix: how many independent bets are your positions?
The correlation matrix shows how closely the returns of the most traded Binance USD-M coins move together. Each cell is the correlation between two coins over the chosen candles: close to 1 means they rise and fall together, close to 0 means their moves are unrelated, and negative means they tend to move in opposite directions. Pick a timeframe, the number of candles and how many coins to show. The page lists the most and the least correlated pairs and the coins least tied to Bitcoin.
Correlation is calculated on log returns, not on prices. Two coins in a long uptrend can look almost perfectly correlated by price just because both went up; returns remove that shared trend and measure whether they move together from one candle to the next.
Check my positions
Type the coins you hold and the page calculates their average correlation and an effective number of independent bets, roughly n divided by one plus (n minus one) times the average correlation. Four coins with an average correlation of 0.8 behave closer to 1.2 independent positions than to four. That matters for risk: when everything moves together, a market-wide drop can trigger several stops at once, so the total loss can approach the sum of the risks you set per position.
Correlations change over time and rise in sell-offs, when most coins fall together, so real diversification is usually lower than calm-market numbers suggest. The matrix describes the past, not the future, and it is not a signal to buy or sell anything.
Questions and answers
What does a correlation of 0.8 mean?
The two coins moved in the same direction in most candles over the chosen period. It does not mean one causes the other, and it can change quickly.
Why use returns instead of prices?
Prices of coins that both trend up look highly correlated even if their moves are unrelated. Returns remove the shared trend.
What are independent bets?
A rough measure of how many truly separate positions a set of correlated coins is worth. Fewer independent bets means more of your risk sits in the same move.
