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Kraftmer

Coverage

How stocks, crypto, gold, and the dollar move together

Six liquid proxies — BTC, ETH, SPY, NIFTY, gold, USD — and their pairwise Pearson correlation over your chosen window. Green = move together; red = move opposite; pale = roughly independent.

BTCETHSPYGoldUSD
BTC1.000.09-0.17-0.060.13
ETH0.091.00-0.08-0.04-0.04
SPY-0.17-0.081.000.40-0.53
Gold-0.06-0.040.401.00-0.45
USD0.13-0.04-0.53-0.451.00
NegativePositive

Note: 1 asset could not be loaded — some cells may be blank.

How to read a cell

Each cell is the correlation of daily returns over the chosen window — not the price ratio, not the absolute return. Values near +1.00 mean the two assets move in sympathy. Near −1.00 means they move opposite. Near zero means they wander independently.

Diagonal cells are always 1.00— every asset correlates perfectly with itself. They're kept for visual symmetry.

The four regimes most people watch for

  • BTC vs SPY: when it's high (above 0.5), crypto is trading as a tech-adjacent risk asset. When it drops, the “digital gold” narrative is getting tested.
  • SPY vs NIFTY: chronically positive, but the strength fluctuates with FII flows. Above 0.6 = global risk tide. Below 0.4 = India trading its own story.
  • Gold vs USD: usually negative — a stronger dollar makes gold more expensive abroad. A break to positive is unusual.
  • SPY vs USD: textbook says negative; reality ranges from −0.4 to +0.3 depending on the macro regime.

What the symbols stand for

  • BTC (BTC) — Bitcoin — digital gold thesis, hard supply cap.
  • ETH (ETH) — Ethereum — programmable chain, DeFi base layer.
  • SPY (SPY) — S&P 500 ETF — broad US large-cap equity.
  • NIFTY (NIFTYBEES) — Nifty 50 ETF — India large-cap proxy.
  • Gold (GLD) — Gold via SPDR Gold Trust — inflation / fear hedge.
  • USD (UUP) — USD strength via Invesco DB USD Bullish ETF (DXY proxy).

Correlation is descriptive, not predictive. Patterns shift over time. Not financial advice.