Bitcoin and Ether have traded almost as one asset over the past month. Their 30 day correlation reads 0.933, measured across 30 daily samples of the two prices.
Correlation scores how closely two markets move in the same direction on the same days. The higher it sits on the scale, the less a position in one coin differs from a position in the other in day to day swings.
The reading says nothing about direction or size. It does not show which coin leads, or whether $ETH moves further than $BTC on a given day. It only says their daily moves have mostly pointed the same way.
Correlation scores how closely two markets move in the same direction on the same days. The higher it sits on the scale, the less a position in one coin differs from a position in the other in day to day swings.
The reading says nothing about direction or size. It does not show which coin leads, or whether $ETH moves further than $BTC on a given day. It only says their daily moves have mostly pointed the same way.