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crypto

Bitcoin Correlation With Gold (90 Trading Days)

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0.53correlation

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Methodology

## What this measures

How closely Bitcoin has moved with gold over the last 90 U.S. trading days: the Pearson correlation between Bitcoin's daily returns and those of the GLD fund.

## Why it matters

Bitcoin is sold both as digital gold and as a high-growth technology bet. Its correlation with stocks and with gold shows which one the market is actually treating it as, and how much it adds to a portfolio that already holds them.

## How to read it

From minus one to one. Near one, Bitcoin rises and falls with gold; near zero, the two move independently; below zero, they tend to move in opposite directions. Correlations shift with the market and tend to rise when investors buy and sell risk all at once.

## What it does not say

Correlation is about direction, not size: Bitcoin can track gold closely while moving several times as much. Ninety days is a short window, so single shocks move it. It uses fund prices, which carry small fees and trading-hour differences, and Bitcoin's weekend moves are counted in Monday's return.

## Source

Daily closes received through a licensed market data provider. Returns are taken on U.S. trading days only, from one close to the next. Correlation calculated by Palanor; only the derived figure is published.

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