Bitcoin And Stocks Rally Despite Declining Correlation
Sure, it was loosely correlated for a while there, but by now, bitcoin and the crypto markets are once again able to claim independence from the traditional markets. In short, and even though measuring correlation can be quite complex, I think this graph pretty much sums it up. What we’re seeing here is the 90-day Pearson correlation between bitcoin and the S&P 500 since 2011. We can clearly see earlier this year, where the correlation spiked up to 0.6 due to the multi-asset early-pandemic sell-off. By now, however, we’re once