Quick Take
- The majority of assets suffered during 2022, including Bitcoin — which spent the year with a high correlation with high-yield corporate debt, as well as with small-cap and growth stocks.
- Red shows positive correlations, and blue shows negative ones.
- Bitcoin’s correlation with small caps was 0.59, the correlation with high-yield corporate debt was 0.64, and small growth stocks were 0.63.
- These assets could all be considered risk-on or have greater potential over the long term but are more vulnerable to negative events and bearish sentiment.
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