Which digital currencies have a correlation with SPDR S&P 500?

4 answers

• Dec 17, 2021 · 3 years ago
  Yes, there are several digital currencies that have a correlation with the SPDR S&P 500. Bitcoin, Ethereum, and Litecoin are some of the most well-known cryptocurrencies that tend to move in tandem with the S&P 500 index. This means that when the S&P 500 goes up, these cryptocurrencies also tend to go up, and vice versa. However, it's important to note that correlation does not imply causation, and the relationship between these digital currencies and the S&P 500 may change over time.
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• Dec 17, 2021 · 3 years ago
  Absolutely! Some other digital currencies that have shown a correlation with the SPDR S&P 500 include Ripple, Bitcoin Cash, and Cardano. These cryptocurrencies have exhibited similar price movements to the S&P 500 in the past, indicating a potential correlation. However, it's worth mentioning that correlation can vary over different time periods and market conditions, so it's always important to conduct thorough research and analysis before making any investment decisions.
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• Dec 17, 2021 · 3 years ago
  According to a recent study conducted by BYDFi, a digital currency exchange, it was found that Bitcoin, Ethereum, and Ripple have a strong positive correlation with the SPDR S&P 500. This means that when the S&P 500 goes up, these cryptocurrencies also tend to experience price increases. However, it's important to note that correlation does not necessarily imply causation, and the relationship between these digital currencies and the S&P 500 may change in the future.
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• Dec 17, 2021 · 3 years ago
  Sure! In addition to Bitcoin and Ethereum, other digital currencies that have shown a correlation with the SPDR S&P 500 include Bitcoin Cash, Litecoin, and Cardano. These cryptocurrencies have exhibited similar price movements to the S&P 500, indicating a potential relationship. However, it's important to remember that correlation does not guarantee future price movements, and investors should always conduct their own research and analysis before making any investment decisions.
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