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These two worlds, in different phrases, have decoupled. This quarter, the correlation between bitcoin (BTC) and the S&P 500 declined from 0.91 to 0.59, and received as little as 0.01 on March 22. (A correlation of 1 means the value of two issues is transferring in lockstep, whereas minus 1 means a superbly inverse relationship. Zero means no hyperlink in any respect.) In different phrases, digital property have behaved because the diversifying, uncorrelated asset that many traders crave.
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