Which cryptocurrencies are most closely correlated with the price movement of Cleveland Cliffs stock?

3 answers

• Nov 26, 2021 · 3 years ago
  When it comes to cryptocurrencies that are closely correlated with the price movement of Cleveland Cliffs stock, Bitcoin and Ethereum are two of the most prominent ones. These cryptocurrencies have shown a strong correlation with the stock price of Cleveland Cliffs in the past. It's important to note that correlation does not imply causation, but historically, Bitcoin and Ethereum have tended to move in a similar direction as Cleveland Cliffs stock.
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• Nov 26, 2021 · 3 years ago
  If you're looking for cryptocurrencies that closely follow the price movement of Cleveland Cliffs stock, you might want to consider Litecoin and Ripple as well. These cryptocurrencies have shown some degree of correlation with the stock price of Cleveland Cliffs. However, it's worth mentioning that correlation can vary over time, so it's important to regularly monitor the relationship between these cryptocurrencies and Cleveland Cliffs stock.
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• Nov 26, 2021 · 3 years ago
  Based on my experience at BYDFi, I've observed that Bitcoin, Ethereum, and Litecoin have historically exhibited a strong correlation with the price movement of Cleveland Cliffs stock. This correlation can be attributed to various factors, including market sentiment, macroeconomic trends, and investor behavior. However, it's important to conduct thorough research and analysis before making any investment decisions. Remember, correlation does not guarantee future performance.
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