When Bitcoin moves, the rest of the market moves with it.
Of the 48 largest altcoins with a year of data, 60% had a daily-return correlation with Bitcoin of 0.6 or more (median 0.62). Most also moved more than Bitcoin (median beta 1.19). Holding ten altcoins is mostly one bet on the market, with extra volatility.
| Coin | Correlation with BTC | Beta to BTC |
|---|---|---|
| ETH | 0.91 | 1.26 |
| XRP | 0.87 | 1.26 |
| SOL | 0.87 | 1.26 |
| LINK | 0.82 | 1.25 |
| BNB | 0.81 | 0.84 |
| NEXO | 0.81 | 0.82 |
| DOGE | 0.80 | 1.20 |
| ADA | 0.80 | 1.37 |
| SUI | 0.77 | 1.50 |
| ETC | 0.74 | 1.10 |
| SHIB | 0.73 | 1.10 |
| LTC | 0.72 | 0.94 |
| AVAX | 0.72 | 1.19 |
| PEPE | 0.71 | 1.55 |
| AAVE | 0.70 | 1.37 |
| APT | 0.68 | 1.35 |
| CAKE | 0.68 | 1.00 |
| HBAR | 0.66 | 1.05 |
| RENDER | 0.65 | 1.32 |
| STX | 0.64 | 1.26 |
| BCH | 0.63 | 1.10 |
| TAO | 0.63 | 1.30 |
| ALGO | 0.63 | 1.07 |
| XLM | 0.62 | 1.06 |
| UNI | 0.62 | 1.34 |
| DOT | 0.62 | 1.15 |
| ARB | 0.62 | 1.34 |
| ONDO | 0.61 | 1.26 |
| PYTH | 0.60 | 1.25 |
| INJ | 0.59 | 1.30 |
| ENA | 0.58 | 1.41 |
| SKY | 0.56 | 0.93 |
| POL | 0.56 | 0.91 |
| MORPHO | 0.54 | 1.06 |
| ATOM | 0.54 | 0.84 |
| NEAR | 0.53 | 1.27 |
| PUMP | 0.52 | 1.45 |
| WLD | 0.50 | 1.35 |
| ZEC | 0.49 | 1.54 |
| ASTER | 0.49 | 0.93 |
| FIL | 0.48 | 1.23 |
| ZRO | 0.45 | 1.01 |
| ICP | 0.40 | 0.93 |
| TRX | 0.39 | 0.21 |
| WLFI | 0.39 | 0.64 |
| NIGHT | 0.32 | 0.98 |
| QNT | 0.31 | 0.77 |
| JST | 0.02 | 0.02 |
How this was checked. Correlation and beta of each coin's daily returns against Bitcoin's over the last 365 days.
Recomputed nightly from Binance daily closes. History describes the past; it is not a forecast or advice.