Bitcoin's correlation with U.S. stocks drops to five-year low
data shows that in 2024, Bitcoin and the Nasdaq index will only have a 52% correlation in the same direction, 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%, making it the best performing asset class in terms of Sharpe ratio.
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