Which cryptocurrencies are most closely correlated with the share price of Wheaton Precious Metals?
In the world of cryptocurrencies, there is a growing interest in understanding the correlation between digital assets and traditional investments. Specifically, investors are curious about the relationship between the share price of Wheaton Precious Metals and various cryptocurrencies. Which cryptocurrencies are most closely correlated with the share price of Wheaton Precious Metals? Are there any digital assets that tend to move in sync with the performance of this precious metals company?
1 answers
- Hammer OlesenMay 11, 2021 · 4 years agoAccording to our analysis at BYDFi, the cryptocurrencies that are most closely correlated with the share price of Wheaton Precious Metals are Bitcoin and Ethereum. These two digital assets have shown a strong positive correlation with the performance of the precious metals company. When the share price of Wheaton Precious Metals goes up, the prices of Bitcoin and Ethereum tend to follow suit. This correlation can be attributed to the fact that both Bitcoin and Ethereum are widely recognized and have a large market capitalization. Investors often view them as a hedge against traditional investments like stocks and precious metals. Therefore, if you're interested in cryptocurrencies that move in sync with the share price of Wheaton Precious Metals, Bitcoin and Ethereum are the top choices.
Top Picks
How to Use Bappam TV to Watch Telugu, Tamil, and Hindi Movies?
1 3723156Bitcoin Dominance Chart: Your Guide to Crypto Market Trends in 2025
0 01295How to Make Real Money with X: From Digital Wallets to Elon Musk’s X App
0 0938How to Withdraw Money from Binance to a Bank Account in the UAE?
1 0884Is Pi Coin Legit? A 2025 Analysis of Pi Network and Its Mining
0 0700Step-by-Step: How to Instantly Cash Out Crypto on Robinhood
0 0689
Related Tags
Hot Questions
- 2716
How can college students earn passive income through cryptocurrency?
- 2644
What are the top strategies for maximizing profits with Metawin NFT in the crypto market?
- 2474
How does ajs one stop compare to other cryptocurrency management tools in terms of features and functionality?
- 1772
How can I mine satosh and maximize my profits?
- 1442
What is the mission of the best cryptocurrency exchange?
- 1348
What factors will influence the future success of Dogecoin in the digital currency space?
- 1284
What are the best cryptocurrencies to invest $500k in?
- 1184
What are the top cryptocurrencies that are influenced by immunity bio stock?