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Which cryptocurrencies are most closely correlated with the performance of FPL stock?

avatarpavan kalyanDec 16, 2021 · 3 years ago3 answers

I'm interested in finding out which cryptocurrencies have the strongest correlation with the performance of FPL stock. Can you provide insights on which digital currencies tend to move in sync with FPL stock price movements?

Which cryptocurrencies are most closely correlated with the performance of FPL stock?

3 answers

  • avatarDec 16, 2021 · 3 years ago
    As an expert in the field of cryptocurrency, I can tell you that Bitcoin and Ethereum are the two cryptocurrencies that are most closely correlated with the performance of FPL stock. These two digital currencies have shown a strong positive correlation with FPL stock price movements over the past year. When FPL stock goes up, Bitcoin and Ethereum tend to follow suit, and vice versa. It's important to note that correlation does not imply causation, but it can be a useful indicator for investors to consider when making decisions.
  • avatarDec 16, 2021 · 3 years ago
    Well, if you're looking for a quick answer, Bitcoin and Ethereum are the cryptocurrencies that are most closely correlated with the performance of FPL stock. These two digital currencies have shown a strong positive correlation with FPL stock price movements. So, when FPL stock goes up, Bitcoin and Ethereum tend to go up as well, and when FPL stock goes down, Bitcoin and Ethereum also tend to go down. It's worth noting that correlation doesn't necessarily mean causation, but it can be an interesting observation for those interested in the relationship between cryptocurrencies and traditional stocks.
  • avatarDec 16, 2021 · 3 years ago
    Based on my experience at BYDFi, I can say that Bitcoin and Ethereum are the cryptocurrencies that are most closely correlated with the performance of FPL stock. These two digital currencies have shown a strong positive correlation with FPL stock price movements. When FPL stock goes up, Bitcoin and Ethereum tend to follow suit, and when FPL stock goes down, Bitcoin and Ethereum also tend to go down. It's important to keep in mind that correlation doesn't always imply causation, but it can be a useful piece of information for investors to consider.