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Bitcoin's Correlation To Stocks Has Dropped Significantly
Summary: The correlation between bitcoin and stock index S&P 500 has dropped significantly, indicating that the two asset classes may no longer be moving in the same direction. Bitcoin’s correlation to S&P 500, which is measured via BTC/USD on Coinbase and S&P 500 futures, has dropped to a two-month low. The correlation at the time of ...
The correlation between bitcoin and stock index S&P 500 has dropped significantly, indicating that the two asset classes may no longer be moving in the same direction.
Bitcoin’s correlation to S&P 500, which is measured via BTC/USD on Coinbase and S&P 500 futures, has dropped to a two-month low. The correlation at the time of writing sits at around 0.15, which means it is nearly negligible. Around a month ago, on April 16, the correlation was moderately positive at 0.53.
By Roland James
Tags: Bitcoin,BTC/USD,S&P 500,S&P500 futures
Link: Bitcoin's Correlation To Stocks Has Dropped Significantly [Copy]
