Which digital currencies have the highest correlation with XM stock?

3 answers

• Dec 16, 2021 · 3 years ago
  Bitcoin (BTC) and Ethereum (ETH) have shown a strong correlation with XM stock. When XM stock price goes up, these two cryptocurrencies tend to follow suit. This correlation is likely due to the fact that Bitcoin and Ethereum are the most established and widely recognized cryptocurrencies in the market. Investors often view them as safe havens and store of value assets, which leads to a similar price movement with XM stock. However, it's important to note that correlation does not imply causation, and other factors can also influence the price movements of these digital currencies and XM stock.
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• Dec 16, 2021 · 3 years ago
  In addition to Bitcoin and Ethereum, Ripple (XRP) and Litecoin (LTC) have also shown some correlation with XM stock. While the correlation may not be as strong as with Bitcoin and Ethereum, there have been instances where the price movements of XRP and LTC have mirrored that of XM stock. It's worth noting that the correlation between digital currencies and XM stock can change over time, so it's important to regularly monitor the market and stay updated on the latest trends and developments.
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• Dec 16, 2021 · 3 years ago
  According to a recent analysis conducted by BYDFi, the digital currencies that have the highest correlation with XM stock are Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP). These three cryptocurrencies have consistently shown a strong correlation with XM stock price movements. It's important to consider this correlation when making investment decisions involving XM stock and these digital currencies. However, correlation should not be the sole factor in making investment decisions, and it's always recommended to conduct thorough research and analysis before making any investment moves.
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