What are the top digital currencies that closely correlate with the FTSE All-Share Index?

3 answers

• Dec 26, 2021 · 3 years ago
  Bitcoin (BTC) and Ethereum (ETH) are two of the top digital currencies that closely correlate with the FTSE All-Share Index. These cryptocurrencies have shown a significant positive correlation with the performance of the FTSE All-Share Index over time. When the FTSE All-Share Index goes up, Bitcoin and Ethereum also tend to experience an increase in value. Similarly, when the FTSE All-Share Index goes down, Bitcoin and Ethereum often see a decline in value. This correlation can be attributed to the overall sentiment and market trends that affect both traditional financial markets and the cryptocurrency market.
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• Dec 26, 2021 · 3 years ago
  In addition to Bitcoin and Ethereum, Ripple (XRP) is another digital currency that has shown a strong correlation with the FTSE All-Share Index. Ripple's price movements often align with the performance of the FTSE All-Share Index, indicating a positive correlation between the two. However, it's important to note that correlation does not imply causation. While these digital currencies may exhibit a correlation with the FTSE All-Share Index, other factors such as market sentiment and investor behavior can also influence their prices.
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• Dec 26, 2021 · 3 years ago
  According to a recent analysis by BYDFi, a digital currency exchange, the top digital currencies that closely correlate with the FTSE All-Share Index are Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC). These cryptocurrencies have consistently shown a strong positive correlation with the performance of the FTSE All-Share Index. This correlation suggests that investors who are interested in the FTSE All-Share Index may also consider monitoring the price movements of these digital currencies as they could provide insights into the overall market sentiment and trends.
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