This paper explores the dynamic relationships between three popular cryptocurrencies (Bitcoin, Ripple, and Litecoin) and various other financial assets. Using both time and frequency domain analyses, the authors find that cryptocurrencies are relatively isolated from traditional financial assets, suggesting they may offer diversification benefits for investors with short investment horizons. The results indicate that cryptocurrencies are decoupled from popular financial assets and are influenced more by structural conditions specific to their design and operation. The study also reveals that the interconnectedness between cryptocurrencies and other assets varies over time, reflecting external economic and financial shocks. The findings support the view that cryptocurrencies are a new category of investment assets, characterized by high volatility and potential for speculative bubbles, but also offer unique opportunities for diversification.This paper explores the dynamic relationships between three popular cryptocurrencies (Bitcoin, Ripple, and Litecoin) and various other financial assets. Using both time and frequency domain analyses, the authors find that cryptocurrencies are relatively isolated from traditional financial assets, suggesting they may offer diversification benefits for investors with short investment horizons. The results indicate that cryptocurrencies are decoupled from popular financial assets and are influenced more by structural conditions specific to their design and operation. The study also reveals that the interconnectedness between cryptocurrencies and other assets varies over time, reflecting external economic and financial shocks. The findings support the view that cryptocurrencies are a new category of investment assets, characterized by high volatility and potential for speculative bubbles, but also offer unique opportunities for diversification.