Are cryptos becoming alternative assets?

This research provides insights for the separation of cryptocurrencies from other assets. Using dimensionality reduction techniques, we show that most variation among cryptocurrencies, stocks, exchange rates, commodities, bonds, and real estate indexes can be explained by tail, memory moment factors their log-returns. By applying various classification methods, are categorized as a separate asset class, mainly due to tail factor. The main result is complete types, using Maximum Variance Components Split method. Additionally, tend exhibit similar characteristics over time become more distinguished classes (synchronic evolution).