Ether’s Correlation With Stocks Reaches a Record High

(Bloomberg) -- Ether, the second-largest cryptocurrency, is now moving in tandem with U.S. stocks like never before. A 40-day correlation coefficient for the token and the S&P 500 has topped 0.65, with 1 being the highest possible reading. Bitcoin’s correlation with equities similarly reached a record in recent days, suggesting the digital assets could rally alongside any upturn in shares.

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