Which digital currencies have a strong correlation with Mexico stock ETFs?

3 answers

• Mar 18, 2022 · 3 years ago
  Bitcoin (BTC) has shown a strong correlation with Mexico stock ETFs in recent years. As one of the most popular and widely recognized cryptocurrencies, Bitcoin's price movements have often mirrored the performance of the Mexican stock market. This correlation can be attributed to various factors, including global economic trends and investor sentiment towards both traditional and digital assets.
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• Mar 18, 2022 · 3 years ago
  Ethereum (ETH) is another digital currency that has exhibited a notable correlation with Mexico stock ETFs. As the second-largest cryptocurrency by market capitalization, Ethereum's price movements have been influenced by similar market forces as the Mexican stock market. It's important to note that correlation does not imply causation, and the relationship between Ethereum and Mexico stock ETFs may change over time.
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• Mar 18, 2022 · 3 years ago
  According to our analysis at BYDFi, Ripple (XRP) has shown a moderate correlation with Mexico stock ETFs. While not as strong as Bitcoin or Ethereum, Ripple's price movements have displayed some alignment with the Mexican stock market. It's worth noting that correlation can vary over different time periods and should be interpreted with caution when making investment decisions.
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