Bitcoin, ether, Solana, gold and the dollar
- Bitcoin and ether: +0.91 over 90 days (very strong, positive).
- Bitcoin and gold +0.51; bitcoin and the US dollar −0.33, over 90 days.
- Of 61 coins (wrapped and pegged coins left out), moving most with bitcoin over 90 days: ETH +0.91, XRP +0.89, SOL +0.85, DOGE +0.84, ADA +0.83; least: FF +0.01, TRX +0.06, NIL +0.14, PROM +0.20, QNT +0.21.
30 days
| Asset | BTC | ETH | SOL | Gold | US dollar |
|---|---|---|---|---|---|
| Bitcoin | 1 | +0.97 | +0.91 | +0.43 | −0.06 |
| Ethereum | +0.97 | 1 | +0.90 | +0.42 | −0.21 |
| Solana | +0.91 | +0.90 | 1 | +0.22 | −0.21 |
| Gold (tokenised) | +0.43 | +0.42 | +0.22 | 1 | +0.05 |
| US dollar (broad index) | −0.06 | −0.21 | −0.21 | +0.05 | 1 |
90 days
| Asset | BTC | ETH | SOL | Gold | US dollar |
|---|---|---|---|---|---|
| Bitcoin | 1 | +0.91 | +0.85 | +0.51 | −0.33 |
| Ethereum | +0.91 | 1 | +0.85 | +0.51 | −0.40 |
| Solana | +0.85 | +0.85 | 1 | +0.41 | −0.27 |
| Gold (tokenised) | +0.51 | +0.51 | +0.41 | 1 | −0.36 |
| US dollar (broad index) | −0.33 | −0.40 | −0.27 | −0.36 | 1 |
365 days
| Asset | BTC | ETH | SOL | Gold | US dollar |
|---|---|---|---|---|---|
| Bitcoin | 1 | +0.91 | +0.87 | +0.40 | −0.21 |
| Ethereum | +0.91 | 1 | +0.88 | +0.39 | −0.23 |
| Solana | +0.87 | +0.88 | 1 | +0.32 | −0.13 |
| Gold (tokenised) | +0.40 | +0.39 | +0.32 | 1 | −0.40 |
| US dollar (broad index) | −0.21 | −0.23 | −0.13 | −0.40 | 1 |
| Asset | BTC | ETH | SOL | Gold | US dollar |
|---|---|---|---|---|---|
| Bitcoin | 1 | +0.93 | +0.82 | +0.43 | −0.27 |
| Ethereum | +0.93 | 1 | +0.83 | +0.37 | −0.33 |
| Solana | +0.82 | +0.83 | 1 | +0.30 | −0.27 |
| Gold (tokenised) | +0.43 | +0.37 | +0.30 | 1 | −0.31 |
| US dollar (broad index) | −0.27 | −0.33 | −0.27 | −0.31 | 1 |
Read across a row: each cell is the correlation of that row's daily returns with the column's, from +1 (always moving together) through 0 (no straight-line link) to -1 (always opposite). Shading marks strength: light from 0.2, medium from 0.4, strong from 0.7. Hover a cell for the number of returns and the last day.
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Beta to bitcoin
Beta measures how far an asset has moved for each 1% move in bitcoin, on the same days: a beta of 1.5 means about 1.5% for every 1%. It combines the correlation with how volatile the asset is against bitcoin.
| Asset | Beta to bitcoin, 90 days | Returns |
|---|---|---|
| Ethereum | 1.23 | 90 |
| Solana | 1.22 | 90 |
| Gold (tokenised) | 0.27 | 90 |
| US dollar (broad index) | -0.03 | 63 |
The full matrix
The full matrix pairs every coin we cover (63 today) with every other, plus gold, the US dollar and the US 10-year yield: Pearson and Spearman correlations over 30, 90 and 365 days and each one's beta to bitcoin, recalculated every hour. It is in the API on Plus (any assets, JSON or CSV) and Pro (with an API key):
GET /api/v1/correlations?assets=BTC,ETH,SOL,LINK,DOGE&window=90&method=pearsonSigned out, the same route answers for the five assets on this page. To correlate any two charts over any window, the Studio's Formulae have corr(a, b, n).
How the matrix is calculated
Returns: the natural logarithm of each daily close divided by the one before; for the 10-year yield, the change in percentage points. Each pair uses only the days both have a value, and each return runs between the same two dates for both, so the official series (the dollar and the yield, published on US business days) are matched with bitcoin's and the coins' closes of their own days. A window holds the returns ending in the last 30, 90 or 365 calendar days before the pair's latest common day, with at least 15, 45 or 180 of them.
Pearson's coefficient measures how consistently two series move in a straight-line relation; Spearman's rank correlation does the same on the order of the returns, so a few extreme days weigh less. Beta: the covariance of an asset's returns with bitcoin's divided by the variance of bitcoin's, over the same days.
Sources: each coin's own daily close at 00:00 UTC from the price chart its pages use; gold from our index of the tokenised gold tokens PAXG and XAUt; the Federal Reserve's broad dollar index; the US Treasury's 10-year par yield. The dollar and yield charts are on paid plans: this page shows only their correlations. Correlation describes the recent past, not a cause and not a forecast.
Questions
What is a crypto correlation matrix?
A table of correlation coefficients between every pair of assets: each cell says how consistently the two moved together over a window, from +1 to -1. CryptoKeyhole calculates it from daily returns over 30, 90 and 365 days.
Which coins move most with bitcoin?
How often is the matrix updated?
Every hour; the daily returns change once a day, after the 00:00 UTC close, and the official series as they are published.
Bitcoin correlationCreate a free accountAll free tools
Figures on this page are calculated by CryptoKeyhole from our own daily closes and official statistics, and refreshed automatically. Nothing here is investment advice.