I often hear that having put a lot of BTC into alt coins I find interesting is very dangerous as I could miss a BTC rally and the idea is that the pairs to BTC would dip while BTC goes up. On the contrary, I was more curious why my crypto portfolio I only hold and play with for the most part avoided all the major shocks of individual crypto while I was seeing nice average usd value increases for quite a long time now.
I put the short study with naughty immature language here, feel free to just focus on the plots:
i.imgur.com/ljNevxt.jpg
My theory so far is that hedging with a well balanced updated portfolio should see btc running from coin to coin breaking even or catching rallies and pumps, AND have a net positive bias from new money coming into the crypto. Additionally, since largest volumes or only volumes are with respect to btc, the coins scale with the value of btc. BTC value appears to be redistributed more and more into altcoins (http://coinmarketcap.com/charts/#btc-percentage).
I hope everyone is being safe with crypto, hedging, and being aware exchanges could be compromised.
Feel free to improve on the study that's good enough for me personally to confirm alts are ok. Improvements could come from better statistical analysis, larger data sets, weighting by volume, and large selective vs random altcoin groups.
Hope this helps at least 1 person lol.
ref: data from quandl.com