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Russell 2000 made a new ATH, so this MUST mean that it is time for altcoin season, right?
The Correlation Coefficient doesn't just show how strong or weak a positive or negative correlation is, it shows the direction of the relationship
At the moment, the correlation between these two assets is negative for the first time since July 2016 and the negative correlation is beginning to strengthen
The indicator can curl back up from here, but at the moment it is pointed sharply down
Past correlations mean nothing in a new environment. Simply comparing past breakouts won't work, when the previously positive correlation has become negative