I'm still not entirely convinced with what exactly the correlation between the stock market and bitcoin markets are, because there is still a lack of institutional investors that are actually actively invested in bitcoin. Plus, we don't know what they would actually do in a bear market situation, there is simply not enough data to gather from.
If there was any correlation you would be able to see it by overlaying the charts. I played about with that a bit over the weekend and there absolutely isn't any correlation there.