Matrixport: Bitcoin is currently uncorrelated with Nasdaq

Matrixport officials posted a chart on social media saying that Bitcoin is widely believed to represent a bet on the future of technology, and historically, Bitcoin has been correlated with the Nasdaq Index (a benchmark index for U.S. technology companies). Over the past two years, Bitcoin has outperformed the Nasdaq Index by 73%. Although the correlation between Bitcoin and the Nasdaq Index is sometimes high, the current correlation is only 9%, indicating that investors can obtain a non-correlated return stream. Including high-return, non-correlated assets in the portfolio is undoubtedly an attractive strategy for investors.