Every once in a while I check the correlations amongst cryptocurrencies and also with other asset classes like stocks and gold. Below you find a quick overview of the 90-day correlations.
Interesting to see that all cryptocurrencies are still very correlated to each other. Unfortunately the ‘newer’ projects are not in there. I suspect to see a slightly different pattern if they were included.
Cool to see as well is the negative correlation (although weak) with the stock market SPX (S&P500). I am very curious to see how this develops in the coming 6-12 months with the stock market reaching ATHs and a big correction seems evident.
Rolling correlations show that BTC and ETH seem to get less correlated over time in the last 60 days. The same goes for BTC and LSK. BTC and XMR are starting to get more correlated.
For those interested, the performance of the top coins in the last 30 days:
I look at the price movements almost every day but this shocked me a bit though. Especially ETH, NEO and NEM!
What are your thoughts on all of this?
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Disclaimer: I am not a financial advisor, trader or developer. I am just a blockchain & cryptocurrencies enthusiast. Make sure you do your own research, draw your own conclusions and do not invest any money that you cannot afford to lose.