Here’s what data says regarding how correlated Dogecoin, Shiba Inu, and other altcoins have been to Bitcoin during the past month.

The Correlation Matrix Between Various Assets And Bitcoin

In a new post on X, the market intelligence platform IntoTheBlock has looked into the correlation between Bitcoin and the different top coins in the digital asset sector.

The relevant indicator here is the “correlation coefficient,” a statistical tool that tracks how much two given quantities have been tied to each other over a given period.

In the context of the current discussion, the 30-day version of the metric is of interest, meaning that it tells us about the correlation between the assets over the past month.

The coins in question have been moving together when this indicator has a value …