Aggregated price index with volume information
Summary:
- Crypto stocks up 1.4% on average while median return up 1.9% in a day
- Crypto stocks down 4.1% on average while median return down 4.8% in a week
- Crypto stocks down 10.8% on average while median return down 10.6% 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 $XNET 10.0%, $RIOT 2.3%
- 1M losers are : Losers for past month are $EBON -15.1%, $SOS -15.8%, $MSTR -24.3%, $CAN -32.4%
- 1W winners are : Winners for past week are $XNET 5.1%, $EBON 1.5%
- 1W losers are : Losers for past week are $SOS -5.1%, $COIN -5.5%, $MARA -9.8%, $RIOT -12.7%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 23.7%, for the past 3 months is 38.0%
In the past month for a 5 days rolling window, the highest corrrelation is 43.9%, the lowest correlation is -10.0%, the latest correlation is 33.3%
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 82.6% between BTBT and RIOT
The lowest correlation is -52.7% between COIN and OSTK
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The crypto giant is riding high again, but the challenge, as always, is whether it can develop diverse revenue streams for the long haul.
Shares of Coinbase Global slipped Friday despite posting better-than-expected first-quarter earnings the day before. Quarterly revenue rose 53% to $1.64 billion from $773 million a year ago. Coinbase’s earnings benefited from an uptick in crypto prices and trading activities during the quarter.
Coinbase Global (COIN) surpassed estimates on both earnings and revenues, benefiting from the wave of revival in digital coin trading largely due to the launch of a series of new bitcoin ETFs in January.
Coinbase Global, Inc. (NASDAQ:COIN) Q1 2024 Earnings Call Transcript May 2, 2024 Coinbase Global, Inc. beats earnings expectations. Reported EPS is $1.04, expectations were $0.02195. Coinbase Global, Inc. isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here). Operator: Good afternoon. My name […]
Both equities and gold have been trading lower since reaching highs in mid-April, the report said.
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