Advanced Micro Devices, Inc. (AMD) vs Ethereum (ETH)

Ethereum's price movements have shown significant correlation with traditional stock indices, such as the S&P 500 and Nasdaq 100, indicating that factors affecting tech stocks may similarly impact ETH.

• February 2022:Ethereum's 40-day correlation coefficient with the S&P 500 reached a record high of over 0.65.
• April 2024:IntoTheBlock reported ETH's correlation with the S&P 500 at 0.77 and with the Nasdaq 100 at 0.7.

• Ethereum's price is more closely correlated with traditional stock markets than Bitcoin's, suggesting that ETH may respond to macroeconomic factors influencing equities.
• The strong correlation between ETH and stock indices implies that movements in tech stocks could be reflected in ETH's price behavior.