Matrixport: Bitcoin is currently uncorrelated with Nasdaq
2024-07-31 06:28:11
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On July 31st, Matrixport official posted on social media that it is widely believed that Bitcoin represents a bet on the future of technology. Historically, Bitcoin has a correlation with the Nasdaq index (the benchmark index of US technology companies). In the past two years, Bitcoin has outperformed the Nasdaq index by 73%. Although the correlation between Bitcoin and the Nasdaq index is sometimes high, the current correlation is only 9%, indicating that investors can get a non-correlated return stream. Including high-return, non-correlated assets in the portfolio is undoubtedly an extremely attractive strategy for investors.
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