Aggregated price index with volume information
- The momentum of the sector is very strong.
- Crypto stocks down 0.9% on average while median return down 0.6% in a day
- Crypto stocks up 11.7% on average while median return up 14.2% in a week
- Crypto stocks up 27.5% on average while median return up 27.2% in a month
- When average return is significantly different from median return, this implies an asymmetry - composite return is driven by some outliners.
Aggregated price index (close) is based on equal weighted constituencies returns. Average short volume and average total volumes are averaged across all volume data among constituencies.
- 1M winners are : Winners for past month are $COIN 63.4%, $MARA 62.4%, $BTBT 43.1%, $RIOT 32.9%
- 1M losers are : Losers for past month are $EBON -2.2%, $CAN -17.1%
- 1W winners are : Winners for past week are $BTBT 29.7%, $MARA 23.4%, $EBON 20.0%, $RIOT 17.7%
- 1W losers are : Losers for past week are $CAN -9.9%
Index correlation analysis
Correlation for the past month is 37.4%, for the past 3 months is 36.0%
In the past month for a 5 days rolling window, the highest corrrelation is 64.5%, the lowest correlation is 10.9%, the latest correlation is 62.7%
When a correlation deviated from the normal level and goes lower or even negative, it indicates some of stocks have deviated from the normal direction of the group. The deviation could reverse if long term level of correlation was at a higher level. It creates trading opportunities and deserves study whether the deviation is idiosyncratic or systematic.
Among pairwise correlation, the highest correlation is 90.5% between BTBT and RIOT
The lowest correlation is -35.7% between COIN and OSTK
Cryptocurrency News: Cryptocurrency prices rose again Tuesday as bitcoin eyes its $44,000 level after eclipsing $42,000 for the first time since April 2022 on Monday. Elsewhere, Needham hiked its price target for Coinbase stock on expectations the exchange still has room to run with retail traders waiting on the sidelines. November was a busy month in cryptocurrency circles.
Needham hiked its price target on Coinbase stock Tuesday believing the crypto exchange has more room to rally. Cathie Wood, ARK sell shares.
STOCKSTOWATCHTODAY BLOG Stocks were mixed on Tuesday, following a five-week winning streak as investors continued to adjust expectations over the pathway for interest rates. Here are the stocks making moves Tuesday: GitLab stock soared 11% after the software-development group posted its first-ever profit on an adjusted operating metric.
The problem with shorting a stock that is going parabolic is that it can keep going higher for longer and faster than you can tolerate. A bear call spread involves selling an out-of-the-money call and buying a further out-of-the-money call. A 155-160 bear call spread expiring on Dec. 8 was showing a nice premium of around 90 cents at the close yesterday.
The price of bitcoin climbed above $43,000 Tuesday—the highest level since April 2022, before the crash of a stablecoin started a litany of company failures and pummeled crypto prices. Bitcoin was recenly up over 4% in the past 24 hours to $43,492, according to CoinDesk data.
Coinbase Wallet’s new feature will make it easer to send USDC at no cost across borders.
Despite big gains in Bitcoin, there are signs of indifference among U.S. retail investors. What it means for Coinbase and crypto.
After a rash of layoffs at the beginning of the year, some companies are cutting jobs as 2023 winds down and a strong labor market shows signs of cooling.
A controversy over inclusive language at Google is just the latest flareup in a long-running battle.
- Garden City Fully Energized; Grew Hash Rate to 23.7 EH/s - Produced 1,187 BTC in November 2023 and 10,999 BTC Year-to-Date - Combined Unrestricted Cash and Bitcoin Was $802.3 Million as of November 30, 2023 Fort Lauderdale, FL, Dec. 05, 2023 (GLOBE NEWSWIRE) -- Marathon Digital Holdings, Inc. (NASDAQ:MARA) ("Marathon" or "Company"), a leader in supporting and securing the Bitcoin ecosystem, today published unaudited bitcoin (“BTC”) production and miner installation updates for November 2023. M