Bitcoin Correlation Matrix
Macro & Correlations · CoinBoss Indicators Hub
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Source: Yahoo Finance daily closes (BTC-USD / ETH-USD / GLD / ^GSPC / DXY). Pearson correlation of log returns on shared trading days only, refreshed every 6 hours. TradFi assets skip weekends, so paired days are fewer than calendar days.
Reading the matrix
Each cell is the Pearson correlation of the two assets' daily log returns: +1 fully synchronized, -1 fully inverse, 0 no linear relation. Deeper red = stronger positive, deeper blue = stronger negative. Switch 30d/90d/1y windows — short windows are noisy, long ones more stable.
Typical patterns
BTC and ETH stay highly correlated (0.7–0.9). BTC's equity correlation swings with macro cycles, rising during easy-liquidity regimes; the DXY correlation is negative most of the time; gold correlation is usually weak and unstable — the 'digital gold' narrative only holds sometimes.