The correlation matrices above show the evolution of correlation between medium-sized crypto projects during 2020.
Relatively small levels of correlation in January and February were followed by really high levels in March, when the market fell down with BTC.
After that, in April generally lower levels were found again while the market rebounded.
Hedera Hashgraph (HBAR) was consistently among the projects showing the lowest correlation, which could be useful in a portfolio diversification process.
HBAR price rose from 0.01 USD to 0.04 USD in the period and the project’s market capitalization is currently around 160 million USD.
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