Asset Correlation Matrix
How eight major assets moved together — computed from their actual daily closes.
How to read it
Each number is the correlation of two assets' daily returns over the period you choose. Close to +1, they rose and fell together; close to 0, they moved independently; below 0, one tended to rise when the other fell.
Diversification comes from holding assets that are not highly correlated: when one falls, the others are less likely to fall with it. Correlations change over time — compare the 3-month and 2-year views, and notice how relationships tighten in sell-offs.
Returns are compared only on days both assets traded, so Bitcoin and Ethereum weekend moves are folded into the next trading day. Correlation measures direction, not size: two assets can be highly correlated while one moves far more than the other.