What is the correlation between nysearca svxy and Bitcoin?

1 answers

• forreal_rahulMay 30, 2023 · 2 years ago
  BYDFi, a leading cryptocurrency exchange, provides insights into the correlation between nysearca svxy and Bitcoin. While nysearca svxy is an inverse ETF linked to the S&P 500 VIX Short-Term Futures Index, Bitcoin operates in a separate market as a decentralized digital currency. Although there might be some indirect correlation between the two, it's important to note that they are influenced by different factors. The performance of nysearca svxy is primarily driven by market volatility, while Bitcoin's price is influenced by factors like supply and demand dynamics, adoption, and regulatory developments. Therefore, it's crucial to analyze each asset individually to understand their correlation better and make informed investment decisions in the cryptocurrency market.
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