How correlated are my crypto holdings?

Updated 2026-08-01 · Descriptive analytics, not advice

More than most holders expect. Most altcoins have historically moved with Bitcoin, so a portfolio of many coins often behaves like one or two bets. CryptoArrow computes same-bet correlation from real daily returns over the trailing year and weights it at 35 percent of its 0 to 100 Health Score, the largest single factor.

How correlation is measured

Pairwise correlation of real daily returns over the trailing year for the coins in the portfolio. Coins with too little price history to measure fall back to a documented estimation model, and the methodology says so when that happens. The result is a same-bet read: how much of the portfolio is effectively a single position.

The full formula, weights and limitations.

What high correlation means structurally

When holdings move together, spreading money across them changes the tickers but not the outcome. The measured quantity is effective independent bets, and for correlated portfolios it is usually far below the coin count. This is a structural description of the portfolio as it stands, not a judgment of it.

The Real Bet Count publishes this read for the top coins as a dated index.

Measure your own

The free Portfolio Risk X-Ray reports the same-bet correlation read for any portfolio you type in, no signup and no wallet connect.

Check your holdings' correlation free.

Common questions

Why does a ten coin portfolio behave like one bet?

Because correlation, not coin count, sets the behaviour. If ten coins rise and fall together, their combined value moves as one position. The effective-bets measurement adjusts the count for measured correlation, which is why it usually lands well below the number of tickers.

Does correlation change over time?

Yes. It is measured on a trailing window of daily returns and recomputed as the window moves, so the same portfolio can measure differently as market structure changes. The measurement is dated for exactly that reason.

Every number referenced on this page is computed by a fixed, published formula over public market data. CryptoArrow is a publisher of impersonal crypto analytics. Nothing here is investment advice, and no output recommends buying, selling or holding any asset.