Bitcoin’s six-month correlation with U.S. stocks trails gold, other assets

Bloomberg ETF analyst Eric Balchunas said Bitcoin’s correlation with U.S. stocks over the past six months was lower than that of gold, small-cap stocks, emerging-market equities and U.S. Treasuries. He said the trend suggests Bitcoin has shown some degree of decoupling from the U.S. stock market recently, meaning it does not always move in close lockstep with risk assets such as equities and has recently had weaker ties to U.S. stocks than other major asset classes.