bitcoin ethereum not correlated

Many people expect Bitcoin and Ethereum price movements to be fairly closely aligned. Markets are either up or down, right? Not so, according to Three Arrows Capital CEO, Su Zhu, who has been looking at monthly trends on BTC and ETH over the past 36 months.

Bitcoin And Ethereum Disagree 25% Of The Time
In a tweet yesterday, Zhu compared monthly closes on BTC/USD and ETH/USD since Jan 2017. While some expect agreement in the market direction between the two almost all of the time, this is far from reality.
I can say that negative correlation between btc/usd and eth/usd shocks ppl a lot more than it should given how often its occurred.
In fact, in 9 of the 36 months considered, the dollar price of Bitcoin and Ether moved in opposite directions. A full 25% of the time. Further, Zhu claimed that “In Q1 of every yr since genesis, eth has…

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