Data shows the Bitcoin correlation with the US dollar index and stock market indexes like S&P 500 and Nasdaq 100 have dropped low recently.
Bitcoin Is Showing Little Correlation To Any Index Right Now
In a new post on X, the market intelligence platform IntoTheBlock noted how the correlation of BTC with traditional assets has dropped to low values recently.
The relevant metric here is the “correlation coefficient,” which keeps track of the linear dependence between the prices or values of any two given commodities or assets.
When the value of this metric is above zero, it means that the assets in question are moving in the same direction right now. The closer the indicator’s value is to 1, the stronger this correlation is, and the more striking the resemblance between the two price trends.
On the other hand, the negative indicator implies that there may be a correlation between the commodities, but it’s a negative one. This means that if one asset goes up, the other will re
We współpracy z: https://bitcoinist.com/bitcoin-correlation-dollar-index-stocks-disappeared/
