Live · daily closes
Correlation
Two coins, and how their day-to-day moves lined up: the correlation, the beta of each on the other, how often they closed the same way, and each coin’s realized volatility on the same pairs. Realized volatility of one coin is on volatility.
About this desk
- What you use it for
- Type two coins when you want to know whether their daily moves travelled together. Switch 30 or 90 days. Use it when a second coin is supposed to diversify the first.
- What the numbers are
- The number is the Pearson correlation of daily log returns on UTC dates both coins printed, and only when those dates are one day apart. Beta is how many times one coin’s daily log move lined up with the other’s. Same sign is the share of those days that moved the same way. Each realized figure uses that same set of pairs. 1 is lockstep, −1 is opposite, 0 is no straight-line relationship.
- What it leaves out
- A high number is not a hedge and does not say tomorrow will match. Missing days are dropped instead of stretched. Two names that resolve to the same coin are refused.
Every desk is introduced the same way on the desk list.
BTC and ETH
30 day pairs · 2026-09-02 to 2026-10-02
- Correlation
- 0.93
- BTC on ETH
- 0.86
- beta
- ETH on BTC
- 1.01
- beta
- Same sign
- 80%
- BTC realized
- 41.7%
- +12.1% over the window
- ETH realized
- 45.2%
- +15.2% over the window
0.93 is the Pearson correlation of daily log returns on days both coins printed a close, and only when those days are one day apart. Beta of BTC on ETH is how many times BTC’s daily log move lined up with ETH’s, after each average is removed. Same sign is the share of those days that rose together, fell together, or were both flat.
How to read this
- What 1 and −1 mean
- 1 means the daily log returns rose and fell together in a straight line. −1 means one rose when the other fell. A number near 0 means this window had no stable linear relationship. A high correlation is not a hedge, and it does not say the next day will match.
- Which days count
- Closes are grouped by UTC date. A return is kept only when both coins have that date and the previous date. A missing day breaks the pair instead of stretching one return across two days. Beta, same sign, and both realized figures use that same set of pairs.
- Beta
- Beta is covariance divided by the variance of the coin it is measured against. It is not a hedge ratio you should trade, and it does not say the next day will match. The realized percents are the sample deviation of those same log returns, times the square root of 365.