Which cryptocurrencies are most closely correlated with the performance of FTSE 100 ETF?

3 answers

• Dec 14, 2021 · 3 years ago
  When it comes to cryptocurrencies that are closely correlated with the performance of the FTSE 100 ETF, Bitcoin and Ethereum are two of the most prominent ones. These cryptocurrencies have shown a strong correlation with the FTSE 100 ETF over the years. However, it's important to note that correlation does not imply causation, and the relationship between cryptocurrencies and traditional markets can be complex. To identify cryptocurrencies that are closely correlated with the FTSE 100 ETF, you can analyze historical price data and calculate correlation coefficients. This can be done using statistical tools or by using specialized platforms that provide correlation analysis for cryptocurrencies and traditional markets.
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• Dec 14, 2021 · 3 years ago
  If you're looking for cryptocurrencies that closely follow the performance of the FTSE 100 ETF, you might want to consider Ripple and Litecoin as well. These cryptocurrencies have shown some degree of correlation with the FTSE 100 ETF in the past. However, it's important to keep in mind that correlation can change over time and may not always be consistent. It's always a good idea to conduct thorough research and analysis before making any investment decisions. Additionally, it's worth noting that correlation alone should not be the sole factor in determining investment choices. Other factors such as market trends, fundamentals, and risk appetite should also be taken into consideration.
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• Dec 14, 2021 · 3 years ago
  Based on our analysis at BYDFi, we have found that Bitcoin, Ethereum, and Ripple are the cryptocurrencies that are most closely correlated with the performance of the FTSE 100 ETF. These cryptocurrencies have shown a consistent pattern of moving in sync with the FTSE 100 ETF. However, it's important to remember that correlation does not guarantee future performance and investing in cryptocurrencies always carries a certain level of risk. It's advisable to consult with a financial advisor or conduct your own research before making any investment decisions.
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