Correlation and beta: how your symbols move together

Correlation and beta shows how closely your symbols move together and how strongly each one follows a benchmark. It tells you whether a set of positions is really spread out or moves as one block. It is a Pro Lab tool, part of the Pro and Elite plans.

Using it

1. On a computer, press Pro Lab on the right-hand toolbar; on a phone, open the analysis centre from the chart's bottom bar and choose Pro Lab. Then choose Correlation & beta.
2. Choose the symbols: one of your watchlists, Crypto majors, Cross-asset, or symbols you add yourself. Up to 40 symbols are compared.
3. Choose the period: 30, 90 or 180 days or 1 year of daily returns, or the last 500 four-hour bars.
4. Choose the benchmark of the beta table.

Reading the results

• The matrix: +1 means two symbols move the same way, 0 that they are unrelated and −1 that they move opposite. Similar symbols sit side by side, and those that move together are framed.
• Select a cell to see that pair's rolling correlation over time next to its value for the whole period.
• The highlights name the best diversifiers, pairs that recently drifted apart or came together, and symbols with a beta above 1.5.
• The beta table: a beta of 1.5 means the symbol moved 1.5% on average when the benchmark moved 1%. Downside beta uses only the bars where the benchmark fell, and volatility is yearly.

Good to know

• Symbols without enough history in the period, or whose price did not move, are left out with the reason.
• Correlation describes the period you chose; it can change quickly in a crash or a rally.
• You can open any symbol on the chart from the table.