Do coins actually move together?

"Diversify within crypto" only works if the coins don't all move as one. Here's the actual answer, recomputed every day from our AUD price records: how correlated the majors are over the past 90 days, and which coins move calmly versus wildly.

Right now, the major altcoins' average correlation with Bitcoin is 64%. The most joined-at-the-hip pair is BTC & ETH (89%); the most independent is ZEC & XMR (12%). The higher these numbers, the less work "diversification" inside crypto is actually doing.

90-day correlation of daily moves — top 12 coins (×100)

	BTC	ETH	BNB	XRP	SOL	TRX	ZEC	HYPE	DOGE	LINK	XMR	ADA
BTC	·	89	68	81	78	35	45	61	73	64	36	70
ETH	89	·	66	77	75	32	42	67	69	68	29	63
BNB	68	66	·	66	65	38	36	51	78	53	37	61
XRP	81	77	66	·	73	36	50	59	84	64	24	77
SOL	78	75	65	73	·	21	44	65	71	64	43	65
TRX	35	32	38	36	21	·	23	19	31	18	29	28
ZEC	45	42	36	50	44	23	·	58	42	34	12	43
HYPE	61	67	51	59	65	19	58	·	51	47	21	46
DOGE	73	69	78	84	71	31	42	51	·	63	30	76
LINK	64	68	53	64	64	18	34	47	63	·	27	61
XMR	36	29	37	24	43	29	12	21	30	27	·	32
ADA	70	63	61	77	65	28	43	46	76	61	32	·

100 = perfect lockstep · 0 = unrelated · negative (red) = opposite moves. Stablecoins and tokenised gold excluded.

Calmest — smallest typical daily move

Coin	Typical day	Worst day (90d)
BTT	±0.0%	9.9%
FRAX	±0.1%	1.4%
TRX	±0.6%	3.0%
LEO	±0.7%	4.3%
SUN	±0.7%	4.8%
BTC	±0.8%	6.2%
NEXO	±0.9%	9.5%
XDC	±1.0%	8.0%
ASTER	±1.0%	8.4%
ETH	±1.0%	10.4%

Wildest — largest typical daily move

Coin	Typical day	Worst day (90d)
PUMP	±4.5%	22.5%
WLD	±3.7%	14.7%
LIT	±3.5%	15.4%
XPL	±3.5%	19.0%
ETHFI	±3.5%	18.4%
VVV	±3.4%	27.5%
JTO	±3.4%	15.0%
ENA	±3.4%	22.7%
ZEC	±3.4%	21.9%
FARTCOIN	±3.3%	16.2%

How to use this honestly: high correlations mean a portfolio of ten coins can still be one bet on the crypto market's direction — real diversification for most Australians lives outside crypto, in position sizing. The volatility table is the "can I sleep at night" check: a coin whose normal day is ±5% will regularly hand you weeks of −20%. Size accordingly, check the portfolio tracker, and see today's actual moves on the daily wrap.

FAQ

What does a correlation of 0.8 between two coins mean?

That over the past 90 days their daily moves lined up strongly — when one rose, the other usually rose too. 1.0 is moving in lockstep, 0 is no relationship, negative means moving opposite. It describes the recent past; correlations shift with market regimes.

Why does this matter for diversification?

Diversification only reduces risk when the assets don't all move together. If everything you hold is 0.7+ correlated with Bitcoin, you own one bet in several costumes — the table above shows how true that is right now, coin by coin.

How is "typical daily move" calculated?

It's the median absolute daily price change over the past 90 days in AUD — the size of a normal day, not the scary outliers. We show the worst single day separately, because both numbers deserve to be seen before buying.

Computed from our own daily AUD price records (powered by CoinGecko) over the trailing 90 days; refreshed with each daily rebuild. Correlations are historical and change with market conditions. General information only, not financial advice.