$BNB
The historical correlation between BNB and ETH prices has generally been positive and moderate to strong, reflecting their shared exposure to broader crypto market dynamics, though it has fluctuated over time due to ecosystem-specific developments.  
Over the past 12 months (as of early 2026), the correlation coefficient stands at approximately 0.68, indicating moderate co-movement; this is lower than the typical 0.8-0.9 seen between ETH and BTC, suggesting BNB’s partial decoupling driven by Binance’s exchange dominance and utility token features.  
In 2025, BNB exhibited relative strength against ETH, with year-to-date outperformance (BNB down ~28-30% vs. ETH’s ~31-37%), attributed to BNB Chain’s high transaction volumes, low fees, and institutional adoption, leading to periods of reduced correlation during ETH’s post-Merge consolidation.   
Longer-term data from 2018-2021 shows bidirectional causality and spillover effects, with correlations often exceeding 0.7 amid market-wide events like bull runs or crashes, but BNB’s ties to centralized exchange activity have occasionally led to divergence from ETH’s DeFi-focused volatility. 
Recent trends in early 2026 indicate tightening correlation amid bearish sentiment, with BNB/ETH ratio stabilizing around 0.31-0.39, yet BNB’s 7% relative gain over ETH in recent weeks hints at potential renewed decoupling if Binance ecosystem metrics continue to outperform.  
Overall, while correlations remain positive, they trend lower during altcoin-specific impulses, supporting BNB’s role as a diversified holding within crypto portfolios compared to ETH’s higher beta to BTC. $ETH
