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The thirty-day correlation coefficient between Bitcoin and the US dollar is -0.31

The thirty-day correlation coefficient between Bitcoin and the US dollar is -0.31

CointimeCointime2023/10/30 04:54
By:Cointime

According to data from Tongbuke, on October 30th, the correlation coefficient between Bitcoin and cross-asset prices is as follows: The 30-day correlation coefficient between Bitcoin and the SP 500 is 0.28, with a weekly cumulative decline of 0.02. The 30-day correlation coefficient between Bitcoin and gold is -0.177, with a weekly cumulative decline of 0.003. The 30-day correlation coefficient between Bitcoin and the US dollar is -0.31, with a weekly cumulative decline of 0.13. Note: 1. A positive correlation coefficient value indicates a positive correlation; a negative value indicates a negative correlation. 2. A correlation coefficient value ≤ 0.5 indicates a low degree of correlation; 0.5 to 0.8 indicates a significant correlation; ≥ 0.8 indicates a high degree of correlation.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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