Components•Correlation matrix
| US equities | Gold | EU equities | Treasuries | Oil | Bitcoin | Bunds | Tech | Copper | Dollar | Ether | EM equities | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| US equities | 1.00 | −.08 | .97 | −.49 | .51 | .49 | −.48 | .96 | .67 | −.69 | .55 | .88 |
| Gold | −.08 | 1.00 | .15 | .44 | .57 | .20 | .53 | −.14 | .57 | −.46 | .13 | .30 |
| EU equities | .97 | .15 | 1.00 | −.39 | .64 | .59 | −.36 | .94 | .79 | −.81 | .64 | .94 |
| Treasuries | −.49 | .44 | −.39 | 1.00 | −.46 | −.08 | .99 | −.49 | −.37 | .50 | −.21 | −.51 |
| Oil | .51 | .57 | .64 | −.46 | 1.00 | .26 | −.36 | .43 | .97 | −.94 | .32 | .84 |
| Bitcoin | .49 | .20 | .59 | −.08 | .26 | 1.00 | −.09 | .69 | .35 | −.55 | .99 | .56 |
| Bunds | −.48 | .53 | −.36 | .99 | −.36 | −.09 | 1.00 | −.50 | −.28 | .43 | −.22 | −.46 |
| Tech | .96 | −.14 | .94 | −.49 | .43 | .69 | −.50 | 1.00 | .57 | −.67 | .75 | .84 |
| Copper | .67 | .57 | .79 | −.37 | .97 | .35 | −.28 | .57 | 1.00 | −.96 | .40 | .92 |
| Dollar | −.69 | −.46 | −.81 | .50 | −.94 | −.55 | .43 | −.67 | −.96 | 1.00 | −.60 | −.95 |
| Ether | .55 | .13 | .64 | −.21 | .32 | .99 | −.22 | .75 | .40 | −.60 | 1.00 | .62 |
| EM equities | .88 | .30 | .94 | −.51 | .84 | .56 | −.46 | .84 | .92 | −.95 | .62 | 1.00 |
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