What is the correlation between the NASDAQ US Dividend Achievers Select Index and Bitcoin price?

7 answers

• Dec 27, 2021 · 3 years ago
  The correlation between the NASDAQ US Dividend Achievers Select Index and Bitcoin price is not direct. The NASDAQ US Dividend Achievers Select Index is a stock market index that tracks the performance of dividend-paying stocks in the US. Bitcoin, on the other hand, is a decentralized digital currency. While both are investment assets, they operate in different markets and have different factors influencing their prices. However, it is worth noting that overall market sentiment and investor confidence can impact both the stock market and the cryptocurrency market, which may indirectly affect the price of Bitcoin.
  619310
• Dec 27, 2021 · 3 years ago
  The NASDAQ US Dividend Achievers Select Index and Bitcoin price are not directly correlated. The index represents the performance of dividend-paying stocks in the US, while Bitcoin is a digital currency. The price of Bitcoin is influenced by various factors such as supply and demand dynamics, market sentiment, regulatory developments, and technological advancements. While the performance of the stock market can reflect overall investor confidence, it does not have a direct impact on the price of Bitcoin.
  509170
• Dec 27, 2021 · 3 years ago
  The correlation between the NASDAQ US Dividend Achievers Select Index and Bitcoin price is not significant. The NASDAQ US Dividend Achievers Select Index focuses on dividend-paying stocks, while Bitcoin operates in a separate market as a cryptocurrency. The price of Bitcoin is primarily influenced by factors such as market demand, adoption, and macroeconomic conditions. However, it is important to note that the overall performance of the stock market can indirectly affect investor sentiment, which may have some secondary impact on the price of Bitcoin.
  558140
• Dec 27, 2021 · 3 years ago
  The NASDAQ US Dividend Achievers Select Index and Bitcoin price have a limited correlation. The index tracks the performance of dividend-paying stocks, while Bitcoin operates in the cryptocurrency market. While there may be some indirect influence from overall market sentiment, the price of Bitcoin is primarily driven by factors specific to the cryptocurrency industry, such as technological advancements, regulatory developments, and market adoption. It is important to analyze Bitcoin's price dynamics within the context of the cryptocurrency market rather than relying solely on stock market indices.
  605121
• Dec 27, 2021 · 3 years ago
  The NASDAQ US Dividend Achievers Select Index and Bitcoin price are not directly related. The index represents the performance of dividend-paying stocks, while Bitcoin is a decentralized digital currency. The price of Bitcoin is influenced by various factors, including market demand, investor sentiment, regulatory developments, and macroeconomic conditions. While the performance of the stock market can reflect overall market sentiment, it does not have a direct impact on the price of Bitcoin.
  49783
• Dec 27, 2021 · 3 years ago
  The correlation between the NASDAQ US Dividend Achievers Select Index and Bitcoin price is not significant. Bitcoin operates in the cryptocurrency market, while the index represents the performance of dividend-paying stocks. The price of Bitcoin is primarily influenced by factors such as market demand, adoption, and macroeconomic conditions specific to the cryptocurrency industry. While overall market sentiment can indirectly impact both the stock market and the cryptocurrency market, it does not establish a direct correlation between the index and Bitcoin price.
  56982
• Dec 27, 2021 · 3 years ago
  The NASDAQ US Dividend Achievers Select Index and Bitcoin price are not strongly correlated. The index tracks the performance of dividend-paying stocks, while Bitcoin operates in the cryptocurrency market. The price of Bitcoin is influenced by factors such as market demand, regulatory developments, and technological advancements specific to the cryptocurrency industry. While overall market sentiment can indirectly affect both the stock market and the cryptocurrency market, it does not establish a direct relationship between the index and Bitcoin price.
  55870