Which global stock indices are most closely correlated with the performance of cryptocurrencies?

3 answers

• Nov 24, 2021 · 3 years ago
  The performance of cryptocurrencies is influenced by various factors, including global stock indices. While there is no definitive answer to which stock indices are most closely correlated with cryptocurrencies, some commonly mentioned ones are the S&P 500, NASDAQ, and FTSE 100. These indices are often considered as benchmarks for the overall performance of the stock market and can indirectly impact the cryptocurrency market as well. However, it's important to note that correlation does not imply causation, and the relationship between stock indices and cryptocurrencies can be complex and dynamic.
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• Nov 24, 2021 · 3 years ago
  When it comes to the correlation between cryptocurrencies and stock indices, it's important to consider that the cryptocurrency market is relatively new and highly volatile. While there may be some correlation between certain stock indices and cryptocurrencies, it's crucial to conduct thorough research and analysis before making any investment decisions. Additionally, it's worth noting that the correlation between cryptocurrencies and stock indices can vary over time and may be influenced by various market factors.
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• Nov 24, 2021 · 3 years ago
  At BYDFi, we have observed that the performance of cryptocurrencies is often influenced by global stock indices such as the S&P 500, NASDAQ, and FTSE 100. These indices are widely recognized and closely followed by investors around the world. While correlation does exist between cryptocurrencies and stock indices, it's important to remember that the cryptocurrency market is highly volatile and can be influenced by a multitude of factors. Therefore, it's advisable to diversify your investment portfolio and consult with a financial advisor before making any investment decisions.
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