Which cryptocurrencies are most correlated with ASX200?

3 answers

• Dec 27, 2021 · 3 years ago
  Certainly! When it comes to cryptocurrencies that are most correlated with ASX200, Bitcoin and Ethereum are the top contenders. These two digital currencies have shown a relatively higher correlation with the Australian stock market index compared to other cryptocurrencies. It's worth noting that correlation doesn't imply causation, but it does suggest a certain level of similarity in price movements. So, if you're looking for cryptocurrencies that may have a higher chance of moving in sync with ASX200, Bitcoin and Ethereum are the ones to watch out for.
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• Dec 27, 2021 · 3 years ago
  Well, mate! If you're wondering which cryptocurrencies move in sync with ASX200, you gotta keep an eye on Bitcoin and Ethereum. These two bad boys have a strong correlation with the Australian stock market index. Now, correlation doesn't mean they're causin' each other's moves, but it does mean they tend to move in a similar direction. So, if ASX200 goes up, chances are Bitcoin and Ethereum might follow suit. Cheers!
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• Dec 27, 2021 · 3 years ago
  According to my analysis, Bitcoin and Ethereum are the cryptocurrencies that show the highest correlation with ASX200. These two digital currencies have been observed to move in sync with the Australian stock market index more often than others. However, it's important to remember that correlation doesn't guarantee future price movements. So, while Bitcoin and Ethereum may have a higher correlation with ASX200 historically, it doesn't mean they will always move in the same direction. Keep an eye on these two, but don't forget to diversify your portfolio!
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