Which basic material ETFs are most closely correlated with the performance of major cryptocurrencies?

1 answers

• sunnyxyxMay 06, 2023 · 3 years ago
  As an expert in the field, I can tell you that there are a few basic material ETFs that have shown a correlation with the performance of major cryptocurrencies. One option is the SPDR S&P Metals & Mining ETF (XME), which focuses on companies in the metals and mining industry. Another option is the Global X Lithium & Battery Tech ETF (LIT), which invests in companies involved in the lithium and battery technology sector. Both of these ETFs have shown some level of correlation with the cryptocurrency market, but it's important to note that correlation does not guarantee future performance. Always do your own research and consider your investment goals before making any decisions.
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