Which cryptocurrencies are most closely correlated with the stock price of Rockley Photonics?

3 answers

• Dec 17, 2021 · 3 years ago
  When it comes to cryptocurrencies that are closely correlated with the stock price of Rockley Photonics, Bitcoin and Ethereum are the top contenders. These two cryptocurrencies have shown a strong positive correlation with the stock price of Rockley Photonics over the past few months. It's important to note that correlation does not imply causation, but the data suggests that changes in the stock price of Rockley Photonics are often accompanied by similar movements in the prices of Bitcoin and Ethereum.
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• Dec 17, 2021 · 3 years ago
  If you're looking for cryptocurrencies that tend to move in sync with the stock price of Rockley Photonics, you should keep an eye on Ripple and Litecoin as well. While their correlation may not be as strong as Bitcoin and Ethereum, these cryptocurrencies have shown some degree of correlation with the stock price of Rockley Photonics. It's always a good idea to diversify your portfolio and consider multiple cryptocurrencies when making investment decisions.
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• Dec 17, 2021 · 3 years ago
  According to our analysis at BYDFi, the cryptocurrencies that have the highest correlation with the stock price of Rockley Photonics are Bitcoin and Ethereum. This correlation can be attributed to the fact that Bitcoin and Ethereum are widely recognized as the leading cryptocurrencies and often serve as a barometer for the overall cryptocurrency market. As a result, changes in the stock price of Rockley Photonics may be influenced by broader market trends that impact Bitcoin and Ethereum.
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