Return correlation across the most-liquid markets (1h). Orange = move together, blue = move opposite — spot crowded exposure vs hedges.
| BTC | SNDK | ETH | SKHX | SPCX | SP500 | XYZ100 | MU | DRAM | SKHY | CL | HYPE | BRENTOIL | SILVER | GOLD | SMSN | NBIS | SOL | EWY | INTC | META | PLTR | GOOGL | PUMP | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| BTC | 1.00 | -0.37 | 0.84 | -0.08 | 0.15 | 0.33 | 0.16 | -0.12 | -0.13 | -0.14 | -0.24 | 0.49 | -0.28 | 0.11 | 0.11 | -0.02 | 0.13 | 0.79 | -0.02 | -0.10 | 0.30 | -0.06 | 0.21 | 0.18 |
| SNDK | -0.37 | 1.00 | -0.29 | 0.54 | -0.10 | -0.06 | 0.25 | 0.61 | 0.71 | 0.66 | 0.24 | -0.13 | 0.24 | -0.12 | -0.18 | 0.50 | 0.09 | -0.32 | 0.51 | 0.34 | -0.27 | 0.29 | -0.22 | 0.11 |
| ETH | 0.84 | -0.29 | 1.00 | -0.02 | 0.19 | 0.29 | 0.15 | -0.04 | -0.08 | -0.04 | -0.27 | 0.55 | -0.31 | 0.09 | 0.09 | 0.00 | 0.06 | 0.82 | 0.03 | 0.00 | 0.19 | 0.01 | 0.08 | 0.16 |
| SKHX | -0.08 | 0.54 | -0.02 | 1.00 | -0.14 | 0.34 | 0.53 | 0.66 | 0.85 | 0.83 | -0.06 | 0.11 | -0.07 | 0.21 | 0.21 | 0.67 | 0.27 | 0.01 | 0.82 | 0.41 | -0.06 | 0.20 | -0.03 | 0.02 |
| SPCX | 0.15 | -0.10 | 0.19 | -0.14 | 1.00 | -0.10 | -0.08 | -0.12 | -0.15 | -0.06 | 0.01 | 0.23 | 0.00 | 0.13 | 0.12 | -0.11 | -0.08 | 0.10 | -0.19 | -0.02 | -0.13 | -0.24 | 0.19 | -0.01 |
| SP500 | 0.33 | -0.06 | 0.29 | 0.34 | -0.10 | 1.00 | 0.86 | 0.37 | 0.32 | 0.23 | -0.39 | 0.17 | -0.40 | 0.14 | 0.16 | 0.23 | 0.40 | 0.30 | 0.43 | 0.41 | 0.46 | 0.42 | 0.44 | 0.13 |
| XYZ100 | 0.16 | 0.25 | 0.15 | 0.53 | -0.08 | 0.86 | 1.00 | 0.66 | 0.59 | 0.52 | -0.25 | 0.10 | -0.24 | 0.07 | 0.07 | 0.42 | 0.38 | 0.12 | 0.57 | 0.61 | 0.30 | 0.34 | 0.39 | 0.07 |
| MU | -0.12 | 0.61 | -0.04 | 0.66 | -0.12 | 0.37 | 0.66 | 1.00 | 0.87 | 0.72 | 0.05 | 0.07 | 0.06 | -0.04 | -0.05 | 0.56 | 0.27 | -0.06 | 0.66 | 0.58 | -0.25 | 0.21 | -0.04 | 0.04 |
| DRAM | -0.13 | 0.71 | -0.08 | 0.85 | -0.15 | 0.32 | 0.59 | 0.87 | 1.00 | 0.83 | 0.05 | 0.02 | 0.05 | 0.12 | 0.14 | 0.83 | 0.28 | -0.07 | 0.88 | 0.53 | -0.14 | 0.21 | -0.04 | 0.06 |
| SKHY | -0.14 | 0.66 | -0.04 | 0.83 | -0.06 | 0.23 | 0.52 | 0.72 | 0.83 | 1.00 | 0.02 | 0.10 | 0.04 | 0.00 | -0.01 | 0.64 | 0.28 | -0.07 | 0.73 | 0.52 | -0.13 | 0.23 | -0.19 | 0.10 |
| CL | -0.24 | 0.24 | -0.27 | -0.06 | 0.01 | -0.39 | -0.25 | 0.05 | 0.05 | 0.02 | 1.00 | -0.06 | 0.99 | -0.07 | -0.14 | 0.04 | -0.12 | -0.20 | -0.15 | -0.15 | -0.29 | -0.03 | -0.09 | 0.03 |
| HYPE | 0.49 | -0.13 | 0.55 | 0.11 | 0.23 | 0.17 | 0.10 | 0.07 | 0.02 | 0.10 | -0.06 | 1.00 | -0.09 | 0.16 | 0.16 | 0.01 | 0.04 | 0.56 | 0.02 | -0.09 | -0.07 | -0.02 | 0.03 | 0.32 |
| BRENTOIL | -0.28 | 0.24 | -0.31 | -0.07 | 0.00 | -0.40 | -0.24 | 0.06 | 0.05 | 0.04 | 0.99 | -0.09 | 1.00 | -0.11 | -0.16 | 0.04 | -0.13 | -0.24 | -0.15 | -0.13 | -0.30 | -0.01 | -0.11 | 0.03 |
| SILVER | 0.11 | -0.12 | 0.09 | 0.21 | 0.13 | 0.14 | 0.07 | -0.04 | 0.12 | 0.00 | -0.07 | 0.16 | -0.11 | 1.00 | 0.86 | 0.25 | -0.12 | 0.15 | 0.26 | -0.07 | 0.20 | -0.12 | 0.14 | -0.02 |
| GOLD | 0.11 | -0.18 | 0.09 | 0.21 | 0.12 | 0.16 | 0.07 | -0.05 | 0.14 | -0.01 | -0.14 | 0.16 | -0.16 | 0.86 | 1.00 | 0.30 | -0.12 | 0.15 | 0.30 | -0.08 | 0.13 | -0.21 | 0.22 | -0.02 |
| SMSN | -0.02 | 0.50 | 0.00 | 0.67 | -0.11 | 0.23 | 0.42 | 0.56 | 0.83 | 0.64 | 0.04 | 0.01 | 0.04 | 0.25 | 0.30 | 1.00 | 0.16 | 0.03 | 0.83 | 0.37 | -0.01 | 0.11 | -0.01 | 0.17 |
| NBIS | 0.13 | 0.09 | 0.06 | 0.27 | -0.08 | 0.40 | 0.38 | 0.27 | 0.28 | 0.28 | -0.12 | 0.04 | -0.13 | -0.12 | -0.12 | 0.16 | 1.00 | 0.12 | 0.33 | 0.29 | 0.00 | 0.28 | -0.11 | 0.10 |
| SOL | 0.79 | -0.32 | 0.82 | 0.01 | 0.10 | 0.30 | 0.12 | -0.06 | -0.07 | -0.07 | -0.20 | 0.56 | -0.24 | 0.15 | 0.15 | 0.03 | 0.12 | 1.00 | 0.03 | -0.09 | 0.19 | -0.02 | 0.07 | 0.27 |
| EWY | -0.02 | 0.51 | 0.03 | 0.82 | -0.19 | 0.43 | 0.57 | 0.66 | 0.88 | 0.73 | -0.15 | 0.02 | -0.15 | 0.26 | 0.30 | 0.83 | 0.33 | 0.03 | 1.00 | 0.46 | 0.04 | 0.27 | -0.02 | 0.04 |
| INTC | -0.10 | 0.34 | 0.00 | 0.41 | -0.02 | 0.41 | 0.61 | 0.58 | 0.53 | 0.52 | -0.15 | -0.09 | -0.13 | -0.07 | -0.08 | 0.37 | 0.29 | -0.09 | 0.46 | 1.00 | -0.04 | 0.23 | 0.00 | 0.01 |
| META | 0.30 | -0.27 | 0.19 | -0.06 | -0.13 | 0.46 | 0.30 | -0.25 | -0.14 | -0.13 | -0.29 | -0.07 | -0.30 | 0.20 | 0.13 | -0.01 | 0.00 | 0.19 | 0.04 | -0.04 | 1.00 | 0.23 | 0.32 | 0.04 |
| PLTR | -0.06 | 0.29 | 0.01 | 0.20 | -0.24 | 0.42 | 0.34 | 0.21 | 0.21 | 0.23 | -0.03 | -0.02 | -0.01 | -0.12 | -0.21 | 0.11 | 0.28 | -0.02 | 0.27 | 0.23 | 0.23 | 1.00 | -0.21 | 0.09 |
| GOOGL | 0.21 | -0.22 | 0.08 | -0.03 | 0.19 | 0.44 | 0.39 | -0.04 | -0.04 | -0.19 | -0.09 | 0.03 | -0.11 | 0.14 | 0.22 | -0.01 | -0.11 | 0.07 | -0.02 | 0.00 | 0.32 | -0.21 | 1.00 | -0.09 |
| PUMP | 0.18 | 0.11 | 0.16 | 0.02 | -0.01 | 0.13 | 0.07 | 0.04 | 0.06 | 0.10 | 0.03 | 0.32 | 0.03 | -0.02 | -0.02 | 0.17 | 0.10 | 0.27 | 0.04 | 0.01 | 0.04 | 0.09 | -0.09 | 1.00 |