Bitcoin has been showing notable correlation to the stock equities recently, but data shows Ethereum is charting a more independent path.
Bitcoin & Ethereum Showing Different Degrees Of Correlation To Other Assets
In a post on X, the institutional DeFi solutions provider Sentora (previously IntoTheBlock) has talked about how the latest Correlation Matrix has looked between the two largest cryptocurrencies, Bitcoin and Ethereum, and traditional markets. The “Correlation Matrix” here refers to an indicator that tells us how closely tied together the prices of two given assets currently are.
When the value of this metric is positive, it means the assets are reacting to moves in each other by moving in the same direction to some degree. The closer the metric is to 1, the stronger the relationship.
On the other hand, the indicator being under the zero mark implies there is a negative correlation between the two prices. That is, they are…
