Here is an interesting report written by crypto disclosure platform Xangle.

https://s3.ap-northeast-2.amazonaws.com/upload.xangle.io/files/weekly+just+the+facts/200316/(Xangle)200316_EN_C.pdf

The report shows that Nasdaq turned out to be the most correlated asset with BTC this year, with 56.43% determination. This figure, however, decreases significantly to 8.24% when we stretch the period to 2018, showing that the determination between Nasdaq and BTC can change drastically under different circumstances.

Determination comes from R-squared, the goodness-of-fit measure for linear regression models. Put simply, it is a measure of how correlated, or how much variability of one factor can be caused or explained by its relationship with another factor.

-The determination between Bitcoin & other traditional assets (2020):
Nasdaq 56.43% / S&P 40.59% / Nikkei 18.2% / Silver 15.63% / Kospi 10.86% / US 2yr bond yield 7.42% / US 10yr bond yield 2.37% / Gold 2.13% / WTI 1.14%

-The determination between Bitcoin & other traditional assets (2018~present)
Gold 21.65% / S&P 11.97%/ Nasdaq 8.24%

-The determination between Bitcoin & other traditional assets (2013~present)
S&P 71.34% / Nasdaq 71.18% / Gold 26.6%


Please tell me your thoughts! Thanks