Ethereum Is More Correlated To Stocks Than Bitcoin: IntoTheBlock
According to recently published data from IntoTheBlock, the correlation between ETH and several traditional market indexes is now far higher than those between its larger rival, Bitcoin (BTC), and the same markets. The firm’s figures show a correlation coefficient of 0.7 between ETH and the DAX – a stock index tracking 40 over the largest and most liquid German companies traded on the Frankfurt exchange. The equivalent correlation for BTC is 0.63. ETH’s correlations to both indexes are 0.77 and 0.7 respectively, versus Bitcoin’s 0.56 and 0.44 correlations.
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