Is ETH correlated with AVAX?

Could you please clarify for me the relationship between ETH and AVAX? I've noticed some fluctuations in their prices recently and I'm wondering if there's a correlation between the two. Is there a direct link between their performances in the market? Or is it just a coincidence that they seem to be moving in similar directions? I'm trying to understand the underlying dynamics that might be driving this correlation, if it exists. Could you also elaborate on any factors that might be influencing the price movements of these two cryptocurrencies? Thank you for your insights.