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BTC vs U.S. Equities Correlation

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BTC vs U.S. Equities Correlation Chart Explained

The upper panel shows BTC price (orange, left axis) and the S&P 500 index (blue, right axis), both on a logarithmic scale.

The lower panel shows the rolling Pearson correlation between BTC and the S&P 500 using daily closing prices, sharing the same time axis.

  • +1 — they move in perfect lockstep.
  • -1 — they move in perfect opposition.
  • 0 — no linear relationship.

The 50-day correlation is shown by default to capture short-term shifts. Toggle the 200-day correlation on from the legend to reveal longer-term structural trends.

How to Read the Correlation

When the correlation sits high and positive (above ~0.6), Bitcoin is trading like a high-beta risk asset — moving in step with equities as global liquidity drives both. When it falls toward zero or negative, BTC is decoupling and trading on its own crypto-specific drivers rather than broad market sentiment.

Sustained stretches above zero point to a risk-on, liquidity-driven regime, while dips below zero highlight periods where Bitcoin moves independently of — or against — the S&P 500.


DISCLAIMER
Any information found on this page is not to be considered as financial advice. You should do your own research before making any decisions.

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