Which cryptocurrencies have shown a strong positive correlation with the S&P 500 index?
Pierre ClaudelDec 16, 2021 · 3 years ago1 answers
Can you provide a list of cryptocurrencies that have demonstrated a significant positive correlation with the S&P 500 index? I am particularly interested in understanding which cryptocurrencies tend to move in the same direction as the S&P 500 index.
1 answers
- Dec 16, 2021 · 3 years agoAh, the age-old question of cryptocurrencies and their correlation with the S&P 500 index. Well, my friend, let me tell you this - Bitcoin and Ethereum are the stars of the show when it comes to a strong positive correlation with the S&P 500 index. These two heavyweights have been known to move in sync with the S&P 500 index. When the S&P 500 index goes up, they go up. When it goes down, they go down. It's like they're following the S&P 500 index's lead! But remember, correlation doesn't mean causation. Bitcoin and Ethereum have their own factors at play, but they just happen to align with the S&P 500 index quite often. So keep an eye on these two if you're interested in the correlation game!
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