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Which cryptocurrencies are most closely correlated with the performance of the NASDAQ index?

avatarDARYL-PHDec 26, 2021 · 3 years ago7 answers

Can you provide a list of cryptocurrencies that have the highest correlation with the NASDAQ index? I'm interested in knowing which digital currencies tend to move in sync with the performance of the NASDAQ stock market. Are there any specific cryptocurrencies that are more closely tied to the NASDAQ index than others?

Which cryptocurrencies are most closely correlated with the performance of the NASDAQ index?

7 answers

  • avatarDec 26, 2021 · 3 years ago
    Certainly! When it comes to cryptocurrencies that are closely correlated with the NASDAQ index, Bitcoin and Ethereum are two of the most notable ones. These two cryptocurrencies have shown a relatively strong correlation with the performance of the NASDAQ stock market. However, it's important to note that correlation does not necessarily imply causation, and the relationship between cryptocurrencies and traditional stock markets can be influenced by various factors.
  • avatarDec 26, 2021 · 3 years ago
    Well, if you're looking for cryptocurrencies that move in sync with the NASDAQ index, you can't go wrong with Bitcoin and Ethereum. These two digital currencies have demonstrated a significant correlation with the performance of the NASDAQ stock market. It's worth mentioning that correlation doesn't guarantee identical movements, as the cryptocurrency market is influenced by its own unique dynamics.
  • avatarDec 26, 2021 · 3 years ago
    As a representative from BYDFi, I can tell you that Bitcoin and Ethereum are the cryptocurrencies that are most closely correlated with the NASDAQ index. These two digital assets have shown a strong correlation with the performance of the NASDAQ stock market. However, it's important to keep in mind that correlation doesn't necessarily indicate a causal relationship, and the cryptocurrency market can be influenced by various factors.
  • avatarDec 26, 2021 · 3 years ago
    If you're interested in cryptocurrencies that have a high correlation with the NASDAQ index, Bitcoin and Ethereum are the ones to watch. These two digital currencies have exhibited a strong correlation with the performance of the NASDAQ stock market. However, it's important to remember that correlation doesn't imply causation, and the relationship between cryptocurrencies and traditional stock markets can be influenced by a multitude of factors.
  • avatarDec 26, 2021 · 3 years ago
    When it comes to cryptocurrencies that closely follow the movements of the NASDAQ index, Bitcoin and Ethereum are the top contenders. These two digital currencies have demonstrated a strong correlation with the performance of the NASDAQ stock market. It's worth noting that correlation doesn't necessarily mean identical price movements, as the cryptocurrency market has its own unique characteristics.
  • avatarDec 26, 2021 · 3 years ago
    Bitcoin and Ethereum are the cryptocurrencies that are most closely correlated with the NASDAQ index. These two digital assets have shown a strong correlation with the performance of the NASDAQ stock market. However, it's important to remember that correlation doesn't imply causation, and the cryptocurrency market can be influenced by various factors.
  • avatarDec 26, 2021 · 3 years ago
    Looking for cryptocurrencies that move in sync with the NASDAQ index? Bitcoin and Ethereum are your best bets. These two digital currencies have a strong correlation with the performance of the NASDAQ stock market. Just keep in mind that correlation doesn't guarantee identical movements, as the cryptocurrency market operates on its own set of rules.