CAKE: Correlation to BTC (7D)
Shown as its 2019–2022 sample; the latest readings and full history are included with Pro.
7-day correlation of CAKE and BTC hourly returns.
Why use it. Shows whether CAKE 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 CAKE and BTC indexes. CryptoKeyhole's own hourly CAKE/USD index from public exchange candles, from 19 February 2021. In the last 30 days it drew on the markets of Binance, Bybit, Coinbase, Kraken and KuCoin.