The current 90-day correlation index between Bitcoin and gold is only 0.04

Odaily News With the Total World Indices up 28% over the past 12 months, both Bitcoin and gold have thrived in a global bull market. Although unlike gold, which is at an all-time high, Bitcoin is still 6% below its all-time high. However, Bitcoin's standard correlation value with gold has fallen from over 50% four years ago to close to 0 today. The 90-day smoothed price charts of Bitcoin and gold also have fewer similarities than ever before. Specifically, in October 2020, Bitcoin's average daily return over a 90-day rolling period had a 50% positive correlation with gold's 90-day rolling return. However, today Bitcoin trades completely independently of gold. Currently, Bitcoin's 90-day correlation with gold is only 0.04. This means that over a three-month rolling period, gold's average return has little impact on Bitcoin's average return. (Protos)