Are there any cryptocurrencies that are directly correlated with the performance of iShares Silver Trust stock?

3 answers

• Feb 18, 2022 · 3 years ago
  Yes, there are cryptocurrencies that exhibit a direct correlation with the performance of iShares Silver Trust stock. One such example is Ripple (XRP). Ripple has been known to show a positive correlation with silver prices, and as iShares Silver Trust stock tracks the price of silver, Ripple's value can be influenced by the performance of iShares Silver Trust stock. However, it's important to note that correlation does not imply causation, and the relationship between Ripple and iShares Silver Trust stock may vary over time.
  531266
• Feb 18, 2022 · 3 years ago
  No, there is no direct correlation between any specific cryptocurrency and the performance of iShares Silver Trust stock. While some cryptocurrencies may show a temporary correlation with silver prices, it is not a consistent or reliable relationship. The cryptocurrency market is highly volatile and influenced by various factors, making it difficult to establish a direct correlation with traditional financial instruments like iShares Silver Trust stock.
  457153
• Feb 18, 2022 · 3 years ago
  As an expert at BYDFi, I can confirm that there is no direct correlation between any cryptocurrency and the performance of iShares Silver Trust stock. Cryptocurrencies are independent digital assets that are not directly tied to traditional financial instruments. While some cryptocurrencies may experience price movements similar to silver prices, it is not a direct correlation with iShares Silver Trust stock. It's important to consider the unique characteristics and market dynamics of each cryptocurrency when assessing their relationship with traditional assets.
  568142