Which cryptocurrencies are most closely correlated with stock fxaix?

3 answers

• Nov 24, 2021 · 3 years ago
  Sure! When it comes to cryptocurrencies that are closely correlated with the stock fxaix, Bitcoin and Ethereum are at the top of the list. These two cryptocurrencies have shown a strong positive correlation with the stock fxaix over the past few years. This means that when the stock fxaix goes up, the prices of Bitcoin and Ethereum tend to follow suit. However, it's important to note that correlation does not imply causation, and the relationship between cryptocurrencies and the stock fxaix can change over time.
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• Nov 24, 2021 · 3 years ago
  Well, if you're looking for cryptocurrencies that move in sync with the stock fxaix, you can't go wrong with Bitcoin and Ethereum. These two heavyweights in the crypto world have shown a significant correlation with the stock fxaix. So, if you're a stock investor looking to diversify your portfolio with some crypto exposure, Bitcoin and Ethereum might be worth considering.
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• Nov 24, 2021 · 3 years ago
  According to our analysis at BYDFi, Bitcoin and Ethereum have consistently exhibited a high correlation with the stock fxaix. This means that when the stock fxaix goes up or down, there's a good chance that Bitcoin and Ethereum will follow suit. However, it's important to remember that correlation does not imply causation, and the relationship between cryptocurrencies and the stock fxaix can change over time. It's always a good idea to do your own research and consult with a financial advisor before making any investment decisions.
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