Which cryptocurrencies are most closely correlated with SVX stock?

3 answers

• Dec 16, 2021 · 3 years ago
  Bitcoin (BTC) and Ethereum (ETH) are two cryptocurrencies that are closely correlated with SVX stock. This is because Bitcoin and Ethereum are the most widely recognized and traded cryptocurrencies, and their price movements often influence the overall sentiment in the cryptocurrency market. As a result, when SVX stock experiences significant price movements, it is likely to have an impact on the prices of Bitcoin and Ethereum as well. Additionally, SVX stock and Bitcoin/Ethereum may share common factors that affect their prices, such as macroeconomic trends or investor sentiment.
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• Dec 16, 2021 · 3 years ago
  In addition to Bitcoin and Ethereum, other cryptocurrencies that have shown a strong correlation with SVX stock include Ripple (XRP), Litecoin (LTC), and Bitcoin Cash (BCH). These cryptocurrencies are also among the top 10 largest cryptocurrencies by market capitalization, which means they have a significant influence on the overall cryptocurrency market. Therefore, when SVX stock experiences significant price movements, it is likely to have a ripple effect on the prices of Ripple, Litecoin, and Bitcoin Cash as well.
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• Dec 16, 2021 · 3 years ago
  According to a study conducted by BYDFi, a digital currency exchange, the cryptocurrencies that are most closely correlated with SVX stock are Bitcoin, Ethereum, and Ripple. The study analyzed historical price data and found that these cryptocurrencies tend to move in the same direction as SVX stock, indicating a strong correlation. However, it's important to note that correlation does not imply causation, and the relationship between SVX stock and these cryptocurrencies may change over time.
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