NOVI research guide
Correlation summarizes how two measured series move together over a chosen period. To compare Bitcoin with a stock-market benchmark, define the data and timing before interpreting the number. This is a methods guide; it does not report a current correlation estimate.
Open NOVI dashboardA return measures change between two observations. A simple return is the latest price divided by the previous price, minus one. Comparing return series usually answers the co-movement question more directly than comparing raw price levels. Both series must use the same interval and aligned timestamps; missing observations should not silently become zero returns.
Pearson correlation ranges from minus one to plus one when both series have nonzero variation. Positive values indicate a tendency for returns to move together in the sample; negative values indicate opposite movement. A value near zero means little linear association in that sample. It does not establish independence, causation, or protection during a market shock.
Bitcoin trades across weekends while ordinary stock-market sessions do not. Repeating Friday’s stock close through the weekend creates artificial zero returns. One defensible approach is to compare observations at the same stock-market closing time on trading days and describe how intervening Bitcoin movement is included. Document holidays, time zone, and any adjustment to stock prices.
A 30-observation estimate can differ materially from a 90-observation estimate. Both describe their own samples. Report the window, observation count, instruments, data sources, and ending timestamp. A rolling chart can reveal changes that one headline number hides. Avoid selecting only the period that supports a preferred conclusion.
Historical co-movement is one input to research, not a prediction that the next move will match. An estimate can change with the market regime or be dominated by a few extreme observations. When using NOVI’s cross-asset context, inspect the underlying coverage and timestamps; this guide does not imply that every comparison described here is available in the application.
Published by Skyfall Legacy Holdings LLC. Updated September 15, 2026. This educational guide describes methods and platform workflows; it is not a live market report.
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Method reference: NIST: correlation coefficient.