GMX: Beta to BTC (7D)
Shown as its Apr–Jun 2022 sample; the latest readings and full history are included with Pro.
7-day beta of GMX to BTC.
Why use it. How strongly GMX amplifies Bitcoin's moves. How to read it. Above 1 GMX moves more than BTC.
Calculation. Covariance of hourly log returns with BTC / variance of BTC returns, over the last 7 days. CryptoKeyhole's own hourly GMX/USD index from public exchange candles, from 8 March 2022. In the last 30 days it drew on the markets of Binance, Bybit, Kraken, KuCoin and OKX.