Bitcoin and Ether have moved almost as one over the past 30 days. The correlation between their daily moves reads 0.912, measured across 30 daily samples.
A reading that close to 1 means a day that hit $BTC usually hit $ETH the same way. For anyone holding both, the two positions behaved more like one bet than two over this window.
Correlation measures how closely the two moved, not which way. It says nothing about whether the next move is up or down, only that the two have tracked each other tightly through this window.
A reading that close to 1 means a day that hit $BTC usually hit $ETH the same way. For anyone holding both, the two positions behaved more like one bet than two over this window.
Correlation measures how closely the two moved, not which way. It says nothing about whether the next move is up or down, only that the two have tracked each other tightly through this window.