BONK: Correlation to BTC (7D)
Shown as its Apr–Jun 2023 sample; the latest readings and full history are included with Pro.
7-day correlation of BONK and BTC hourly returns.
Why use it. Shows whether BONK moves with Bitcoin. How to read it. Near 1 they move together; near 0 independently.
Calculation. Pearson correlation of hourly log returns over the last 7 days, from CryptoKeyhole's BONK and BTC indexes. CryptoKeyhole's own hourly BONK/USD index from public exchange candles, from 4 January 2023. In the last 30 days it drew on the markets of Binance, Bitstamp, Bybit, Coinbase, Kraken, KuCoin and OKX. Contracts quoted per 1,000 coins (1000BONK, BONK1000, kBONK) are converted to single coins.