Gate Research: Correlation Analysis and Trading Strategies of Gold, Nasdaq Index, and Bitcoin Prices

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This report presents a systematic study of gold, the Nasdaq Index (including both Composite and Nasdaq-100), and Bitcoin (BTC), aiming to uncover their return characteristics, volatility clustering, correlation evolution, and the applicability of trading strategies under various macroeconomic contexts.

Abstract

  • BTC exhibits high price volatility and is strongly driven by sentiment and speculation. While its long-term correlation with traditional assets (such as gold and the Nasdaq) remains low, its short-term correlation with the Nasdaq rises sharply during periods of intense Federal Reserve policy shifts, particularly during tightening cycles.

  • Gold consistently displays safe-haven characteristics, often rising in price when BTC and the Nasdaq experience heightened volatility, thereby serving as an effective hedge.

  • The Nasdaq Index demonstrates a significant Granger causal relationship with BTC, indicating its movement can serve as a leading indicator for BTC, offering valuable trading insights.



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Gate Research is a comprehensive blockchain and crypto research platform that provides readers with in-depth content, including technical analysis, market insights, industry reviews, trend forecasts, and macroeconomic policy analysis.

Disclaimer
Investing in the crypto market involves a high level of risk. Users are advised to conduct independent research and fully understand the nature of any assets and products before making investment decisions. Gate.io assumes no responsibility for any losses or damages resulting from such investment activities.

Author: Simon
Translator: Piper
Reviewer(s): Mark、Edward、Wayne、Evelyn、Elisa
Translation Reviewer(s): Ashley、Joyce
* The information is not intended to be and does not constitute financial advice or any other recommendation of any sort offered or endorsed by Gate.
* This article may not be reproduced, transmitted or copied without referencing Gate. Contravention is an infringement of Copyright Act and may be subject to legal action.

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