Which cryptocurrencies are most closely correlated with US100?

3 answers

• Dec 25, 2021 · 3 years ago
  The correlation between cryptocurrencies and the US100 index can vary over time. However, historically, Bitcoin (BTC) has shown a relatively high correlation with the US100 index. Other cryptocurrencies that have shown some level of correlation with the US100 index include Ethereum (ETH), Ripple (XRP), and Litecoin (LTC). It's important to note that correlation does not imply causation, and the relationship between cryptocurrencies and the US100 index may change in the future.
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• Dec 25, 2021 · 3 years ago
  When it comes to the correlation between cryptocurrencies and the US100 index, it's important to consider that correlation does not necessarily imply a direct relationship or influence. While some cryptocurrencies may show a higher correlation with the US100 index, it's crucial to analyze other factors such as market trends, investor sentiment, and global economic conditions. Therefore, it's recommended to conduct thorough research and consult with financial experts before making any investment decisions.
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• Dec 25, 2021 · 3 years ago
  According to a study conducted by BYDFi, a digital currency exchange, the cryptocurrencies that have shown the closest correlation with the US100 index are Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP). These cryptocurrencies have demonstrated a strong correlation with the movements of the US100 index, indicating a potential relationship between the two. However, it's important to note that correlation does not guarantee future performance, and investors should always conduct their own research and analysis before making any investment decisions.
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