There is a number called "0.06" that has recently attracted attention in the investment circle. Ark Invest founder Cathie Wood mentioned in the latest 2026 outlook report that the correlation coefficient between Bitcoin and bonds is as low as 0.06. What does this mean? Simply put— they hardly follow each other.

Based on weekly return data from January 2020 to early January 2026, the report made a detailed comparison. The correlation between Bitcoin and gold is about 0.14, which seems somewhat related, but still far below the 0.27 between the S&P 500 and bonds. This gap is very significant. Investors know that the lower the asset correlation, the better the diversification effect—when one rises, the other may not fall, balancing the risk.

Even more interesting is that the correlation coefficient between Bitcoin and the S&P 500 is about 0.28, which means that during stock market fluctuations, Bitcoin often has its own rhythm. Its correlation with REITs is only slightly higher than with gold. In traditional asset portfolios, such characteristics are extremely valuable. Bonds, stocks, and gold tend to be more closely correlated, making true diversification difficult. But Bitcoin can break this pattern, enhancing the return per unit of risk.

From another perspective, this is not saying that Bitcoin is less risky, but that it can do things other assets cannot—maintaining independence amid volatility. For investors who take asset allocation seriously, this characteristic changes the game.