I don't think there's a correlation between bitcoin and oil, either, but this would make for an interesting econometrics project.  They have software programs where you input data on any economic variable you could ever think of, and it spits out statistics on correlation and so forth.  It's not my field, but I did take a course in college some years back that dealt with this--and bitcoin was not around yet. 

It's one thing to discuss an issue like this and give our opinions on it, but it's much better when there's hard data.  Bitcoin doesn't seem to correlate with much, just from me eyeballing the financial page every day but I could be wrong about that.  I highly doubt it tracks oil, though.