Which cryptocurrencies have the highest correlation with S&P 500?

3 answers

• Apr 04, 2022 · 3 years ago
  Certainly! When it comes to cryptocurrencies that have a high correlation with the S&P 500, Bitcoin and Ethereum are two of the most prominent ones. These two digital currencies have shown a significant correlation with the stock market, especially during periods of market volatility. It's worth noting that their correlation is not always consistent and can vary over time. However, due to their popularity and market capitalization, they often attract attention from investors looking for a correlation with traditional markets.
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• Apr 04, 2022 · 3 years ago
  Well, if you're looking for cryptocurrencies that closely follow the S&P 500, you can't ignore Ripple (XRP) and Litecoin (LTC). These two digital assets have shown a relatively strong correlation with the stock market. Although not as popular as Bitcoin and Ethereum, they have gained attention for their potential as investment options that move in sync with traditional markets. It's important to keep in mind that correlation doesn't necessarily imply causation, and the relationship between cryptocurrencies and the stock market can be influenced by various factors.
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• Apr 04, 2022 · 3 years ago
  According to a recent analysis conducted by BYDFi, a digital currency exchange, the cryptocurrencies with the highest correlation to the S&P 500 are Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC). This analysis took into account historical price data and calculated the correlation coefficient between these digital assets and the S&P 500 index. It's important to note that correlation does not imply causation, and investors should consider multiple factors when making investment decisions. However, for those interested in cryptocurrencies that tend to move in sync with the stock market, these three are worth keeping an eye on.
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