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Which cryptocurrencies have a high beta value similar to S&P 500?

Mahenoor MerchantMay 01, 2022 · 3 years ago3 answers

Can you recommend some cryptocurrencies that have a high beta value similar to the S&P 500? I'm looking for cryptocurrencies that tend to move in sync with the stock market index and have a similar level of volatility. I want to diversify my investment portfolio and include some cryptocurrencies that can potentially provide a hedge against stock market fluctuations.

Cryptocurrencies
Beta Value
S&P 500

3 answers

  • May 01, 2022 · 3 years ago
    Sure! One cryptocurrency that has a high beta value similar to the S&P 500 is Ethereum (ETH). Ethereum is the second-largest cryptocurrency by market capitalization and has shown a strong correlation with the stock market. Its price tends to move in sync with the S&P 500, making it a good option for diversification.
  • May 01, 2022 · 3 years ago
    Absolutely! Another cryptocurrency with a high beta value similar to the S&P 500 is Ripple (XRP). Ripple is known for its close relationship with the financial industry, and its price often reflects the overall sentiment of the stock market. It can be a great addition to your investment portfolio if you're looking for a cryptocurrency that moves in line with the S&P 500.
  • May 01, 2022 · 3 years ago
    Definitely! If you're interested in cryptocurrencies with a high beta value similar to the S&P 500, you should consider BYDFi (BYD). BYDFi is a decentralized finance platform that offers a range of financial products, including a cryptocurrency with a strong correlation to the stock market. It's a great option for diversification and hedging against stock market fluctuations.

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