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Add as a preferred source on GoogleBitcoin-S&P 500 Correlation Hits 0.80, Highest Since May 2022
The figure covers daily percentage changes across 30 U.S. stock trading sessions. The measure stayed well below 0.80 for most of the period since 2020.
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Bitcoin (BTC) and the S&P 500 had a strong positive correlation in their daily percentage changes over a 30-session period of U.S. stock trading, with the coefficient reaching 0.80.
The reading was the highest since May 2022. For most of the period since 2020, the measure had stayed well below 0.80.
Correlation describes the strength and direction of the relationship between two series. A 0.80 reading does not mean Bitcoin and the index had equal-sized daily changes.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.