21shares: Bitcoin's Annualized Volatility Now Below Tesla's, Correlation with Gold Only 4%
Odaily reports: 21shares has released a digital asset allocation analysis report, examining the allocation value of Bitcoin, Ethereum, and Solana within traditional investment portfolios. Data shows that from October 2023 to September 2026, Bitcoin's three-year correlations with U.S. equities, real estate, and gold were 38%, 11%, and 4% respectively—lower than the correlations among many traditional asset classes—demonstrating certain portfolio diversification value.
Additionally, Bitcoin's volatility has declined, with its annualized volatility over the 12 months preceding September 30, 2026 standing at 44%, lower than Tesla's 46% and Palantir's 59%. Regarding portfolio allocation, 21shares conducted backtesting on data from October 2023 to September 2026 and found that allocating 2% to 5% of digital assets within a traditional 60/40 stock-bond portfolio helps improve risk-adjusted returns. Bitcoin, Ethereum, and Solana play different roles in a portfolio, focusing respectively on alternative asset allocation, technology growth assets, and high-risk growth-oriented allocation.
21shares' research shows Bitcoin's annualized volatility has dropped below Tesla's and its correlation with gold is only 4%, reinforcing the portfolio diversification narrative; however, this is a research report without actual allocation moves or fund flows, so it does not directly change market variables and has limited short-term trading value, neutral (weak).