Data: The correlation between Bitcoin and US stocks has dropped to a five-year low

2024-11-18 19:18:43

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ChainCatcher news, according to CoinDesk, data shows that in 2024, Bitcoin has only a 52% correlation with the Nasdaq index, with a 30-day correlation dropping to 0.46, one of the lowest levels in the past five years.

According to Fidelity data, the correlation between Bitcoin and the S&P 500 index is only 19%, performing the best in terms of Sharpe ratio among major asset classes. Since Trump won the U.S. election on November 6, Bitcoin has surged past $93,000 to reach a new high, while the Nasdaq index has fallen 4% from its historical peak.

According to Glassnode data, Bitcoin's 30-day implied volatility has decreased from 100% in 2021 to about 60% currently. As the world's seventh-largest asset, Bitcoin is gradually decoupling from traditional risk assets, demonstrating independent market performance.

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