Which digital currencies have the highest correlation with 2x leveraged ETFs on the S&P 500?

1 answers

• Andy NiehausSep 12, 2021 · 4 years ago
  At BYDFi, we have analyzed the correlation between digital currencies and 2x leveraged ETFs on the S&P 500 extensively. Our research shows that Bitcoin and Ethereum have the highest correlation with these leveraged ETFs. This correlation can be attributed to the fact that both Bitcoin and Ethereum are widely recognized and traded cryptocurrencies, which makes them more susceptible to market trends and investor sentiment. However, it's important to note that correlation does not imply causation, and the relationship between digital currencies and 2x leveraged ETFs on the S&P 500 can change over time. Therefore, it's crucial for investors to conduct thorough research and consider multiple factors before making investment decisions in the digital currency market.
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