Correlation, in the finance and investment industries, is a statistic that measures the degree to which two securities move in relation to each other. Correlations are used in advanced portfolio management, computed as the correlation coefficient, which has a value that must fall between -1.0 and +1.0.
As it is obvious in the chart the correlation between Gold and Bitcoin lies somewhere between 0 to -1, which means they tend to move in the opposite direction..!
As it is obvious in the chart the correlation between Gold and Bitcoin lies somewhere between 0 to -1, which means they tend to move in the opposite direction..!