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Cross-Asset Correlation Matrix
A correlation matrix shows how markets move relative to each other — the foundation of real diversification. This one spans equities, duration, credit, gold, oil, commodities and crypto, computed live from Liquiditrax's own daily returns. Green pairs move together; red pairs move opposite. Pair it with the volatility heatmap to size risk across what you hold.
| SPY | QQQ | IWM | TLT | HYG | GLD | USO | DBC | BTC | ETH | |
|---|---|---|---|---|---|---|---|---|---|---|
| S&P 500 | 1.00 | 0.91 | 0.77 | 0.44 | 0.71 | 0.64 | -0.34 | -0.19 | 0.45 | 0.56 |
| Nasdaq 100 | 0.91 | 1.00 | 0.74 | 0.35 | 0.63 | 0.57 | -0.20 | -0.07 | 0.44 | 0.51 |
| Russell 2000 | 0.77 | 0.74 | 1.00 | 0.61 | 0.77 | 0.56 | -0.44 | -0.30 | 0.37 | 0.42 |
| 20Y Treasuries | 0.44 | 0.35 | 0.61 | 1.00 | 0.67 | 0.26 | -0.62 | -0.56 | -0.02 | 0.06 |
| High-Yield Credit | 0.71 | 0.63 | 0.77 | 0.67 | 1.00 | 0.56 | -0.48 | -0.35 | 0.33 | 0.40 |
| Gold | 0.64 | 0.57 | 0.56 | 0.26 | 0.56 | 1.00 | -0.28 | -0.06 | 0.52 | 0.55 |
| Crude Oil | -0.34 | -0.20 | -0.44 | -0.62 | -0.48 | -0.28 | 1.00 | 0.93 | -0.09 | -0.10 |
| Commodities | -0.19 | -0.07 | -0.30 | -0.56 | -0.35 | -0.06 | 0.93 | 1.00 | 0.06 | 0.05 |
| Bitcoin | 0.45 | 0.44 | 0.37 | -0.02 | 0.33 | 0.52 | -0.09 | 0.06 | 1.00 | 0.91 |
| Ethereum | 0.56 | 0.51 | 0.42 | 0.06 | 0.40 | 0.55 | -0.10 | 0.05 | 0.91 | 1.00 |
+1 move together 0 uncorrelated −1 move opposite60-session returns · as of 2026-07-29 (UTC)
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Join the waitlist →Frequently asked questions
- What does correlation between two assets mean?
- Correlation measures how two assets move relative to each other, from +1 to −1. +1 means they move together tick for tick, 0 means no relationship, and −1 means they move in exact opposite directions. We compute it from the daily percentage returns of each instrument.
- How is this correlation matrix calculated?
- For each pair we take daily closing prices over the trailing window (60 sessions by default), convert them to daily returns, and compute the Pearson correlation coefficient. Everything comes from Liquiditrax's own daily price cache, not a third-party feed.
- Why does correlation matter for a portfolio?
- Diversification only works when your holdings are not highly correlated. Two assets with +0.9 correlation give you almost no diversification — they will fall together in a sell-off. Watching correlations helps you see whether your risk is actually spread out or secretly concentrated.
- Do correlations change over time?
- Constantly. Stocks and bonds can be negatively correlated for years and then flip positive in an inflation regime; crypto can decouple from equities and then re-couple. That is why this matrix is computed on a rolling window from live data rather than quoted as a fixed number.
- Is a high correlation a buy or sell signal?
- No. Correlation is context for managing risk and diversification, not a trade signal. It tells you how assets relate, not where they are going. Use it to size and spread risk, not to time entries.
Educational calculator. Not financial advice. Results are estimates.