Which cryptocurrencies are closely correlated with FCX according to Yahoo Finance data?
lau inDec 16, 2021 · 3 years ago5 answers
According to Yahoo Finance data, which cryptocurrencies show a strong correlation with FCX?
5 answers
- Dec 16, 2021 · 3 years agoBased on Yahoo Finance data, several cryptocurrencies have been found to be closely correlated with FCX. These include Bitcoin, Ethereum, Ripple, and Litecoin. The correlation between FCX and these cryptocurrencies indicates that their prices tend to move in a similar direction. This means that if FCX's price increases, the prices of these cryptocurrencies are also likely to increase, and vice versa. It's important to note that correlation does not imply causation, and the relationship between FCX and these cryptocurrencies may be influenced by various factors such as market trends and investor sentiment.
- Dec 16, 2021 · 3 years agoYahoo Finance data reveals that FCX is closely correlated with certain cryptocurrencies. Bitcoin, Ethereum, Ripple, and Litecoin are among the cryptocurrencies that show a strong correlation with FCX. This means that changes in the price of FCX are likely to be accompanied by similar changes in the prices of these cryptocurrencies. However, it's important to remember that correlation does not necessarily imply a causal relationship. The correlation between FCX and these cryptocurrencies may be influenced by external factors such as market conditions and investor behavior.
- Dec 16, 2021 · 3 years agoAccording to Yahoo Finance data, FCX exhibits a close correlation with several cryptocurrencies. Bitcoin, Ethereum, Ripple, and Litecoin are among the cryptocurrencies that have a strong correlation with FCX. This means that when the price of FCX goes up or down, the prices of these cryptocurrencies tend to follow a similar pattern. It's worth noting that correlation does not necessarily indicate a direct relationship between FCX and these cryptocurrencies. Other factors, such as market trends and investor sentiment, can also influence their prices.
- Dec 16, 2021 · 3 years agoBased on Yahoo Finance data, FCX shows a significant correlation with certain cryptocurrencies. Bitcoin, Ethereum, Ripple, and Litecoin are some of the cryptocurrencies that exhibit a close correlation with FCX. This means that when FCX's price experiences a change, the prices of these cryptocurrencies are likely to move in a similar direction. However, it's important to understand that correlation does not imply causation. The relationship between FCX and these cryptocurrencies may be influenced by various market factors and investor behavior.
- Dec 16, 2021 · 3 years agoAccording to Yahoo Finance data, FCX is closely correlated with a number of cryptocurrencies. Bitcoin, Ethereum, Ripple, and Litecoin are among the cryptocurrencies that exhibit a strong correlation with FCX. This means that when FCX's price goes up or down, the prices of these cryptocurrencies tend to follow a similar trend. It's important to note that correlation does not necessarily imply a causal relationship. The correlation between FCX and these cryptocurrencies may be influenced by other factors such as market conditions and investor sentiment.
Related Tags
Hot Questions
- 92
What are the best digital currencies to invest in right now?
- 91
What are the best practices for reporting cryptocurrency on my taxes?
- 91
What are the advantages of using cryptocurrency for online transactions?
- 85
How does cryptocurrency affect my tax return?
- 68
How can I minimize my tax liability when dealing with cryptocurrencies?
- 26
How can I protect my digital assets from hackers?
- 25
What are the tax implications of using cryptocurrency?
- 23
Are there any special tax rules for crypto investors?