Which cryptocurrencies are most correlated with TSLA according to TradingView?

3 answers

• Dec 25, 2021 · 3 years ago
  When it comes to cryptocurrencies that are highly correlated with TSLA, one of the top contenders is Bitcoin. Bitcoin has gained significant attention in recent years and has often been referred to as digital gold. Due to its popularity and widespread adoption, Bitcoin's price movements have shown a correlation with various traditional assets, including TSLA. So, if TSLA's stock price goes up or down, you might observe a similar trend in Bitcoin's price.
  458229
• Dec 25, 2021 · 3 years ago
  Another cryptocurrency that has shown a correlation with TSLA is Ethereum. Ethereum is the second-largest cryptocurrency by market capitalization and has a strong presence in the blockchain industry. As TSLA's stock price experiences fluctuations, Ethereum's price may also exhibit similar movements. This correlation could be attributed to the overall sentiment in the cryptocurrency market and the influence of major players who invest in both TSLA and Ethereum.
  464155
• Dec 25, 2021 · 3 years ago
  According to my analysis at BYDFi, a digital currency exchange, besides Bitcoin and Ethereum, Ripple (XRP) has also demonstrated a correlation with TSLA. Ripple is known for its focus on facilitating fast and low-cost international money transfers. Although Ripple's correlation with TSLA might not be as strong as Bitcoin or Ethereum, it's still worth considering when evaluating the impact of TSLA's performance on the cryptocurrency market.
  443111