Which cryptocurrencies are most closely correlated with the performance of NQ futures?

3 answers

• Dec 18, 2021 · 3 years ago
  When it comes to cryptocurrencies that are closely correlated with the performance of NQ futures, Bitcoin and Ethereum are two of the most notable ones. These two cryptocurrencies have shown a strong correlation with the NQ futures market, meaning that their price movements often align with the performance of NQ futures. This correlation can be attributed to the fact that Bitcoin and Ethereum are widely recognized and traded digital assets, making them more susceptible to market trends and sentiments. If you're looking for cryptocurrencies that closely mirror the movements of NQ futures, Bitcoin and Ethereum are definitely worth keeping an eye on.
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• Dec 18, 2021 · 3 years ago
  If you're specifically interested in altcoins, Litecoin and Ripple are two cryptocurrencies that have shown some level of correlation with the performance of NQ futures. While not as closely correlated as Bitcoin and Ethereum, Litecoin and Ripple have exhibited price movements that align with the NQ futures market to some extent. It's important to note that the correlation between cryptocurrencies and NQ futures can vary over time, so it's always a good idea to conduct thorough research and analysis before making any investment decisions.
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• Dec 18, 2021 · 3 years ago
  BYDFi, a digital asset exchange, has observed that Bitcoin, Ethereum, and Litecoin are the cryptocurrencies that are most closely correlated with the performance of NQ futures. These three digital assets have consistently shown a strong correlation with the NQ futures market, making them popular choices for traders and investors who want exposure to both the cryptocurrency and traditional futures markets. It's important to note that correlation does not imply causation, and the relationship between cryptocurrencies and NQ futures should be analyzed and understood in the context of broader market dynamics.
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