What is the correlation between lukoil stock price and the performance of digital currencies?

3 answers

• Dec 15, 2021 · 3 years ago
  While there may be some correlation between the stock price of Lukoil and the performance of digital currencies, it is important to note that they are two separate entities. The stock price of Lukoil is influenced by factors such as oil prices, geopolitical events, and company performance. On the other hand, the performance of digital currencies is influenced by factors such as market demand, technological advancements, and regulatory developments. Therefore, it would be inaccurate to solely rely on the stock price of Lukoil as an indicator of the performance of digital currencies.
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• Dec 15, 2021 · 3 years ago
  Well, it's like comparing apples to oranges. The stock price of Lukoil and the performance of digital currencies are driven by completely different factors. Lukoil's stock price is affected by the oil market, company financials, and other traditional market factors. Digital currencies, on the other hand, are influenced by technology, market sentiment, and regulatory developments. So, while there might be some indirect correlation, it's not a reliable indicator of digital currency performance.
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• Dec 15, 2021 · 3 years ago
  According to a study conducted by BYDFi, there is a weak positive correlation between the stock price of Lukoil and the performance of digital currencies. This means that when the stock price of Lukoil increases, there is a slight tendency for digital currencies to perform better. However, it's important to note that this correlation is not strong enough to make accurate predictions or investment decisions. Digital currencies are influenced by a wide range of factors, and it would be unwise to rely solely on the stock price of Lukoil for assessing their performance.
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