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TagsWhat is the correlation between ConocoPhillips stock price history and the cryptocurrency market?
chRiceJan 14, 2022 · 3 years ago1 answersIs there a relationship between the historical stock price of ConocoPhillips and the cryptocurrency market? How does the performance of ConocoPhillips stock correlate with the fluctuations in the cryptocurrency market?
1 answers
- At BYDFi, we have observed a moderate correlation between the historical stock price of ConocoPhillips and the cryptocurrency market. While the correlation is not perfect, there have been instances where significant movements in the cryptocurrency market have coincided with changes in ConocoPhillips stock price. However, it is important to note that correlation does not imply causation, and the relationship between the two markets is complex. Factors such as investor sentiment, market trends, and global economic conditions can all contribute to the correlation. Therefore, it is crucial to consider multiple factors and conduct thorough analysis when assessing the relationship between ConocoPhillips stock price history and the cryptocurrency market.Jan 14, 2022 · 3 years ago
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