Which cryptocurrencies are most closely correlated with the performance of Sofi Technologies stock?

3 answers

• Feb 18, 2022 · 3 years ago
  Based on historical data, some of the cryptocurrencies that have shown a strong correlation with the performance of Sofi Technologies stock include Bitcoin, Ethereum, and Ripple. These cryptocurrencies have exhibited similar price movements to Sofi Technologies stock, indicating a potential correlation between their performances. However, it's important to note that correlation does not imply causation, and the relationship between cryptocurrencies and Sofi Technologies stock may change over time.
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• Feb 18, 2022 · 3 years ago
  When it comes to the correlation between Sofi Technologies stock and cryptocurrencies, Bitcoin is often considered to be the most closely correlated. This is because Bitcoin is the largest and most well-known cryptocurrency, and its price movements often influence the overall cryptocurrency market. Other cryptocurrencies that have shown some correlation with Sofi Technologies stock include Ethereum, Ripple, and Litecoin. However, it's important to conduct thorough research and analysis before making any investment decisions based on correlation alone.
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• Feb 18, 2022 · 3 years ago
  According to the data from BYDFi, a digital currency exchange, the cryptocurrencies that have the highest correlation with the performance of Sofi Technologies stock are Bitcoin, Ethereum, and Ripple. These cryptocurrencies have consistently shown a strong correlation with Sofi Technologies stock price movements. However, correlation does not guarantee future performance, and it's important to consider other factors and conduct your own research before making any investment decisions.
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