What is the correlation between TQQQ and the cryptocurrency market?

3 answers

• Dec 18, 2021 · 3 years ago
  TQQQ, which is the ProShares UltraPro QQQ ETF, tracks the performance of the NASDAQ-100 index. As the cryptocurrency market is not directly related to the NASDAQ-100 index, there is no direct correlation between TQQQ and the cryptocurrency market. However, it's worth noting that both TQQQ and the cryptocurrency market are influenced by broader market trends and investor sentiment. So, while there may not be a direct correlation, there can be indirect effects on the cryptocurrency market based on the overall market conditions and investor behavior.
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• Dec 18, 2021 · 3 years ago
  The correlation between TQQQ and the cryptocurrency market is minimal. TQQQ is an ETF that focuses on the NASDAQ-100 index, which consists of non-cryptocurrency companies. The cryptocurrency market, on the other hand, is driven by the performance and adoption of digital currencies. While both TQQQ and the cryptocurrency market are influenced by market factors, their correlation is not significant enough to make any meaningful predictions or conclusions about one based on the other.
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• Dec 18, 2021 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, has observed that there is no direct correlation between TQQQ and the cryptocurrency market. TQQQ tracks the performance of the NASDAQ-100 index, which primarily consists of technology companies. The cryptocurrency market, on the other hand, is driven by factors specific to digital currencies. While there may be some indirect effects based on overall market conditions, it is important to analyze the cryptocurrency market separately from TQQQ to make informed investment decisions.
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