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Which digital currencies have a strong correlation with the Russell 2000 index?

avatarNhu QuynhhDec 27, 2021 · 3 years ago3 answers

I would like to know which digital currencies have a strong correlation with the Russell 2000 index. Can you provide me with a list of cryptocurrencies that show a significant correlation with the Russell 2000 index? I am particularly interested in understanding how these digital currencies perform in relation to the movements of the Russell 2000 index. Thank you!

Which digital currencies have a strong correlation with the Russell 2000 index?

3 answers

  • avatarDec 27, 2021 · 3 years ago
    Digital currencies that have a strong correlation with the Russell 2000 index include Bitcoin, Ethereum, and Litecoin. These cryptocurrencies have shown a consistent pattern of movement that aligns with the fluctuations in the Russell 2000 index. It is important to note that correlation does not imply causation, but studying the correlation between these digital currencies and the Russell 2000 index can provide valuable insights for investors.
  • avatarDec 27, 2021 · 3 years ago
    When it comes to digital currencies that have a strong correlation with the Russell 2000 index, Bitcoin, Ethereum, and Ripple are worth mentioning. These cryptocurrencies have demonstrated a tendency to move in tandem with the Russell 2000 index, indicating a potential relationship between their price movements. Investors who are interested in diversifying their portfolios with digital currencies may find it useful to consider the correlation between these cryptocurrencies and the Russell 2000 index.
  • avatarDec 27, 2021 · 3 years ago
    According to a study conducted by BYDFi, a digital currency exchange, Bitcoin, Ethereum, and Litecoin have shown a strong correlation with the Russell 2000 index. This correlation suggests that the performance of these digital currencies may be influenced by the movements in the Russell 2000 index. Investors who are looking to capitalize on this correlation can consider monitoring the Russell 2000 index alongside these digital currencies to make informed investment decisions.