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How Correlated Is Crypto? Signs Point to Quite a Bit, Actually

A look at how the ups and downs of the stock market have driven crypto trading

markets stocks SP500 NYSE
Photographer: Michael Nagle/Bloomberg
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One of the features that early crypto investors would talk about is something called correlation - specifically, the lack of it. Correlation refers to the relationship between different financial assets - if the gold price goes up, and the price of oil also goes up, you could say those prices are positively correlated. For investors looking to diversify their portfolios, correlation isn’t always a good thing. What they want is something that doesn’t move in the same direction as everything else. And for a while, it looked like cryptoassets might fit the bill. 

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