These Three Crypto Assets Are Least Correlated to Bitcoin, Data Shows - newsBTC

Out of more than 5,000 high and small-cap crypto assets, only three have displayed close to zero correlation with bitcoin. The same report listed Chainlink’s LINK and Tezos’ XTZ as the second- and third-least correlated assets to bitcoin, with coefficients of 0.32 and 0.4, respectively.

Binance added that a negative correlation between the returns of two assets serves as an opportunity for investors to diversify their portfolio – sometimes to serve one as “a hedge” against the other. The statement hinted that ATOM, LINK, and XTZ served as attractive assets to purchase whenever the bearish sentiments in the bitcoin market are high.

Timeline of Chainlink, Tezos