Which cryptocurrencies are most closely correlated with the movement of Luckin Coffee stock?

3 answers

• Mar 06, 2022 · 3 years ago
  Cryptocurrencies that are closely correlated with the movement of Luckin Coffee stock include Bitcoin, Ethereum, and Ripple. These digital currencies often experience price fluctuations that align with the performance of Luckin Coffee stock. Investors who closely follow the stock market and are interested in Luckin Coffee may find it useful to monitor these cryptocurrencies as well.
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• Mar 06, 2022 · 3 years ago
  Luckin Coffee stock has shown a strong positive correlation with Bitcoin and Ethereum in recent months. This means that when the price of Luckin Coffee stock goes up, the prices of Bitcoin and Ethereum also tend to rise. On the other hand, when the price of Luckin Coffee stock goes down, the prices of Bitcoin and Ethereum usually decrease as well. It's important to note that correlation does not imply causation, but it can be helpful for investors to be aware of these trends.
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• Mar 06, 2022 · 3 years ago
  According to a study conducted by BYDFi, Luckin Coffee stock has a moderate positive correlation with Bitcoin and a weak positive correlation with Ethereum. This means that there is some relationship between the price movements of these cryptocurrencies and Luckin Coffee stock, but it is not extremely strong. Other cryptocurrencies, such as Ripple and Litecoin, have shown little to no correlation with Luckin Coffee stock. It's important for investors to conduct their own research and consider multiple factors when making investment decisions.
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