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1/2 S&P 500 sector correlations measure equity investor confidence. They were abnormally low in July, suggesting excessive exuberance. August’s global equity market swoon corrected that imbalance...
A 40-day correlation coefficient for a gauge of the largest 100 digital assets and the S&P 500 Index is at about 0.67, a level exceeded only in the second quarter of 2022 when it topped 0.72 https://t.co/3TSGrv8oiJ
"A 40-day correlation coefficient for a gauge of the largest 100 digital assets and the S&P 500 Index is at about 0.67, a level exceeded only in the second quarter of 2022 when it topped 0.72." @Suvajourno https://t.co/g08gjmBK9P
Digital assets and US stocks are moving more in tandem than at almost any time in the past, as the macro variables driving equities are also affecting crypto. According to Bloomberg, the correlation between crypto and the S&P 500 has surged to levels not seen since mid-2022, with a 40-day correlation coefficient of about 0.67, just shy of the 0.72 reached in Q2 2022. This strong positive correlation follows the recent Federal Reserve rate cut and includes a gauge of the largest 100 digital assets.