Which digital currencies are most closely correlated with CFR stock?

3 answers

• Dec 23, 2021 · 3 years ago
  When it comes to digital currencies that are closely correlated with CFR stock, Bitcoin and Ethereum are the top contenders. These two cryptocurrencies have shown a strong positive correlation with CFR stock over the past year. This means that when CFR stock goes up, the prices of Bitcoin and Ethereum tend to rise as well. On the other hand, when CFR stock experiences a downturn, the prices of Bitcoin and Ethereum also tend to decline. It's important to note that correlation does not imply causation, but the relationship between CFR stock and these digital currencies is worth considering for investors.
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• Dec 23, 2021 · 3 years ago
  In addition to Bitcoin and Ethereum, Ripple (XRP) is another digital currency that has shown a significant correlation with CFR stock. XRP's price movements have closely mirrored those of CFR stock in recent months. This correlation suggests that there may be some underlying factors influencing both the stock and the cryptocurrency markets. However, it's important to conduct thorough research and analysis before making any investment decisions based on correlation alone.
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• Dec 23, 2021 · 3 years ago
  According to a recent study conducted by BYDFi, a digital currency exchange, the digital currencies most closely correlated with CFR stock are Bitcoin, Ethereum, and Litecoin. This study analyzed the price movements of various cryptocurrencies and found that these three had the highest correlation coefficients with CFR stock. The findings suggest that these cryptocurrencies may be influenced by similar market factors as CFR stock. However, correlation does not guarantee future price movements, so it's important to consider other factors when making investment decisions.
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