Ishares Trust U.S. Insurance Etf Stock Discussion

When bitcoin does well, software stocks do well. But so do tobacco stocks.
Morgan Stanley's cryptocurrency strategy team notes that when comparing $Bitcoin (BTC.CC)$ to other asset classes, it has positive correlations to equities, with indexes rising along with the coin.
The $SPDR S&P 500 ETF (SPY.US)$ has the closest six-month correlation with bitcoin at just above 0.3, followed by the $Nasdaq Composite Index (.IXIC.US)$, right above 0.25.
It has negative correlations with the $USD (USDindex.FX)$, around -0.4, gold $SPDR Gold ETF (GLD.US)$, around -0.6, and the $U.S. 10-Year Treasury Notes Yield (US10Y.BD)$ around -0.9.
"Below the (equity) index level, the correlations vary widely across sectors," David Adelman, Morgan Stanley director of equities strategy for the Americas writes in a note.
The top 10 most correlated subsectors are:
1. Software & Services $Spdr Series Trust S&P Computer Software Etf (XSW.US)$
2. Food, Beverage $Invesco Food & Beverage ETF (PBJ.US)$ and Tobacco
3. Materials $Materials Select Sector SPDR ETF (XLB.US)$
4. Media & Entertainment $Ishares Evolved U.S. Media And Entertainment Etf (IEME.US)$
5. Commercial & Professional Services
6. Healthcare Equipment & Services $Spdr S&P Health Care Equipment (XHE.US)$
7. Automobiles & Components $Nasdaq Global Auto Index First Trust (CARZ.US)$
8. Diversified Financials $Financial Select Sector SPDR Fund (XLF.US)$
9. Insurance $Ishares Trust U.S. Insurance Etf (IAK.US)$
10. Household & Personal Products $Consumer Staples Select Sector SPDR Fund (XLP.US)$
Bitcoin finished last week up more than 5%, while the S&P dropped 0.3%, snapping a five-week winning streak.