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One transformative tool for cryptocurrency investors is known as correlation on demand. This tool, available on platforms like Coin Gecko, allows users to select an asset—such as Ethereum—and view its correlation to the other 249 tokens listed on the platform. Through this tool, investors can easily identify which assets have a strong correlation to their chosen cryptocurrency.
For instance, if Ethereum is selected, the tool reveals a range of correlated assets, from variants of Ethereum itself, such as staked ETH and wrapped Ethereum, to other tokens like Filecoin and Uniswap's UNI token. These insights empower investors to make informed decisions about which liquidity pools to engage with, optimizing their risk exposure outcomes.