Discover how different cryptocurrencies affect each other with our correlation tool so that you can spot hidden trading opportunities! Correlation is a statistic that measures how much two cryptocurrencies or securities move price-wise in relation to each other, which can be used to your advantage. Figure out how much influence the price moves of gold or indices like the S&P 500 have on the cryptocurrency market – use it to predict crypto price movements based on the movements of traditional industries, or analyze the correlations between different sectors within crypto.
This tool can also help you determine your total exposure to the market so that you can hedge your risks accordingly.
Each correlation has a score between 1 (perfect correlation) and -1 (perfect inverse correlation), which are also color coded for easier and faster comprehension.
Switch between three different timeframes to aid your trading strategy and understand the bigger picture – historic, long term correlation.
This tool is free for everyone on our platform. Join thousands of usersnow and spot the next trading opportunity with our correlation tool!