Which cryptocurrencies have the highest correlation according to portfolio visualizer?

3 answers

• Mar 15, 2022 · 3 years ago
  Sure! According to portfolio visualizer, some of the cryptocurrencies with the highest correlation include Bitcoin and Ethereum, Bitcoin and Litecoin, and Ethereum and Litecoin. These cryptocurrencies often move in the same direction and have a strong positive correlation. It's important to note that correlation doesn't imply causation, but it can provide insights into how different cryptocurrencies behave in relation to each other.
  436218
• Mar 15, 2022 · 3 years ago
  Based on my research, portfolio visualizer indicates that Bitcoin and Ripple, Ethereum and Ripple, and Litecoin and Ripple have the highest correlation among cryptocurrencies. This means that when one of these cryptocurrencies goes up or down, the others are likely to follow a similar pattern. It's interesting to see how these correlations can impact portfolio diversification strategies and risk management in the cryptocurrency market.
  439147
• Mar 15, 2022 · 3 years ago
  According to BYDFi, a popular cryptocurrency analysis platform, the cryptocurrencies with the highest correlation are Bitcoin and Ethereum, Bitcoin and Ripple, and Ethereum and Ripple. These correlations can be useful for traders and investors who want to understand the relationship between different cryptocurrencies and potentially use this information to make informed trading decisions. Keep in mind that correlation can change over time, so it's important to regularly monitor and update your analysis.
  508127