There is no correlation at all! Bitcoin is nowhere close to traditional asset classes and traditional investors don't really like bitcoin as an investment. The main participants of the Bitcoin market is tech-savy millennial who likes to take risk and make big out of it, which is definitely different than the investment ideologies of the traditional class of investors. If you try to find correlation between stock market and Gold, then it's valid because Gold has been serving as a hedging instrument for the traditional class of investors. But bitcoin has not yet matured to that level where it can provide a safe hedging against stock market's movement. We still have a long way to go!