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 SP 500 index is only 19%, making it the best performing asset class in terms of Sharpe ratio.
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