Cross-asset behaviour

Bitcoin's rolling 60-day realized correlation to the S&P 500, Nasdaq-100, gold, and DXY (the euro-heavy majors dollar index) — the 'digital gold vs high-beta risk asset' question, answered descriptively.

How Rolling 60-trading-day Pearson correlation of daily BTC returns vs each reference asset's daily returns. The zero line = no co-movement.Formula corr(BTC daily ret, ref daily ret) over 60dSource Yahoo Finance / FRED — computed

How to read Where BTC currently sits between 'risk asset' (high positive correlation to equities) and 'digital gold' (co-moving with gold, inverse the dollar). The IMF (2022) documented BTC's stock correlation rising sharply post-2020.

A present-state correlation WINDOW, not a permanent property — the relationship is unstable (it shifted again after the 2024 spot ETFs) and any single window is a description, never a 'BTC is a risk asset' law. A rolling realized correlation is a raw observable; a fitted regime-switching / DCC-GARCH 'correlation regime' classifier is model-dependent and is NOT built.

Bitcoin's rolling 60-day OLS beta to the S&P 500 — how amplified BTC's moves are versus equities right now.

How Rolling 60-day covariance of BTC and S&P daily returns divided by the S&P return variance (the OLS slope).Formula cov(BTC, S&P) / var(S&P) over 60dSource Yahoo Finance — computed

How to read β > 1 = BTC is currently moving more than 1-for-1 with equities (a high-beta risk read); β near 0 = decoupled. The β=1 line is a reference, not a target.

A descriptive present sensitivity, not a forecast; beta is unstable across regimes.