
Key points
Correlation of daily Brent changes with equities, metals, bitcoin, G10 and EM FX across five periods | Stocks, gold and silver swung to strong negative correlations with oil after the war began
Image source: @robin_j_brooks

Correlation of daily Brent changes with equities, metals, bitcoin, G10 and EM FX across five periods | Stocks, gold and silver swung to strong negative correlations with oil after the war began
Image source: @robin_j_brooks