Which cryptocurrencies are most correlated with the US30 index?

5 answers

• Nov 26, 2021 · 3 years ago
  Sure! When it comes to cryptocurrencies that are highly correlated with the US30 index, Bitcoin and Ethereum are the top contenders. These two digital currencies have shown a strong positive correlation with the US30 index over time. This means that when the US30 index goes up, the prices of Bitcoin and Ethereum tend to rise as well. Similarly, when the US30 index experiences a downturn, Bitcoin and Ethereum prices also tend to decline. It's important to note that correlation doesn't imply causation, but it does provide insights into the relationship between these assets.
  578289
• Nov 26, 2021 · 3 years ago
  Well, if you're looking for cryptocurrencies that move in sync with the US30 index, you can't go wrong with Bitcoin and Ethereum. These two heavyweights of the crypto world have shown a significant correlation with the US30 index. So, when the US30 index goes up, you can expect Bitcoin and Ethereum prices to follow suit. On the flip side, if the US30 index takes a hit, you'll likely see a dip in the prices of Bitcoin and Ethereum as well. Keep in mind that correlation doesn't guarantee identical movements, but it does give you an idea of how these assets tend to behave relative to each other.
  599200
• Nov 26, 2021 · 3 years ago
  According to our analysis at BYDFi, Bitcoin and Ethereum are the most correlated cryptocurrencies with the US30 index. This means that when the US30 index experiences a bullish trend, you can expect Bitcoin and Ethereum prices to rise as well. Conversely, if the US30 index enters a bearish phase, Bitcoin and Ethereum prices are likely to decline. It's worth noting that correlation can change over time, so it's important to regularly monitor the relationship between these assets and the US30 index. Remember, correlation is just one factor to consider when making investment decisions.
  589148
• Nov 26, 2021 · 3 years ago
  Bitcoin and Ethereum are the top cryptocurrencies that have a strong correlation with the US30 index. This means that their price movements tend to align with the movements of the US30 index. When the US30 index goes up, you can expect Bitcoin and Ethereum prices to rise as well. On the other hand, if the US30 index experiences a decline, Bitcoin and Ethereum prices are likely to follow suit. It's important to keep in mind that correlation doesn't guarantee the same percentage change, but it does indicate a general trend of movement.
  539108
• Nov 26, 2021 · 3 years ago
  When it comes to cryptocurrencies that are highly correlated with the US30 index, Bitcoin and Ethereum take the lead. These two digital currencies have shown a strong positive correlation with the US30 index over time. This means that when the US30 index goes up, the prices of Bitcoin and Ethereum tend to rise as well. Similarly, when the US30 index experiences a downturn, Bitcoin and Ethereum prices also tend to decline. It's important to note that correlation doesn't imply causation, but it does provide insights into the relationship between these assets.
  56394