How does Bitcoin correlate with these four?

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its_foxSenior Member
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#1Nov 1, 2022, 05:19 AM
Is Bitcoin more closely linked with: 1) QQQ (The Nasdaq 100 ETF; pretty much mirrors the Nasdaq itself) 2) SPY/VOO (S&P 500 ETF, usually lags behind QQQ but includes more stocks, like dividend ones that QQQ skips) 3) Gold/Silver 4) anything else worth mentioning? Maybe specific sectors like banks, energy, or even just Apple? What do you think has the weakest correlation? If you look at any 12-month span, the info can be misleading. But honestly, the data from the last year is way more relevant than what we saw back in 2015, even if both are worth considering.
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nickprotoFull Member
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#2Nov 3, 2022, 06:02 AM
I found this on a Reddit thread, these are likely the most correlated stocks to bitcoin: https://strategytracker.com/ I think other things are a bit too niche to be tracked but you should be able to load up Tradingview and have a fiddle about with overlaying charts (I think you can overlay 2 with a free account). I'd suggest looking at emerging tech indices, AI indices as well as your suggestions.. It might go without saying but as the S&P500 has shown fairly strong correlation with Bitcoin (during bull times particularly) and as the big tech companies are the main driver of the S&P500 and make up a decent proportion of it, they'll be the ones that get a high correlation too. Coinbase might also be well correlated with Bitcoin. I'm not sure they're as close though. It might be worth mentioning silvergate bank was correlated to Bitcoin too until it went bankrupt. Edit: Gold is often touted as being fairly uncorrelated. I think bond rates were too, not sure if that's still the same though.
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gang2009Full Member
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#3Nov 3, 2022, 11:57 AM
Everything is important and perhaps we can look at Bitcoin's trajectory from different perspectives which may have little correlation with the four points you mentioned. However, I don't think Bitcoin's performance always depends on the four things you mentioned, even though graphics we see them almost the same. Fundamentally, there may be several factors influencing the process, and I'd like to know what kind of accurate information you're referring to. Sometimes relevant things don't always work the same, because the performance of each asset can vary, especially when talking about Bitcoin which has become a highly discussed asset.
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