Bitcoin vs Gold Correlation

Pearson correlation of log daily returns between Bitcoin and the GLD gold ETF over shared trading days, in 30-day and 90-day rolling windows. +1 = perfectly aligned, −1 = perfectly inverse, 0 = no linear relation.

BTC-gold correlation oscillates around zero (roughly −0.2 to +0.3) over the long run — weak support for the digital-gold narrative — but spikes during macro stress (March 2020, the 2022 hiking cycle). The 30d line is noisy; trend-read the 90d line.