INIT: Hourly Returns by Hour of Day

The INIT price change in each hour of the day (UTC), with the average, the median and the share of rising hours, and the same for the Asian, European and American trading sessions.

Why use it. Answers when in the day the price has tended to move: whether moves cluster in one region's working hours. How to read it. Each row summarises every closed hour that started at that UTC hour over the last 365 days. Hour-to-hour differences are tiny next to the spread of single hours, so read the share of rising hours and the sessions before single hours; past hours do not predict future ones.

Calculation. 100 × (the hour's close ÷ the previous hour's close − 1), for closed UTC hours of the last 365 days, grouped by the hour they start; sessions group 00:00–08:00 (Asia), 08:00–16:00 (Europe) and 16:00–24:00 UTC (Americas). Hourly closes are those of the published INIT price chart: closed UTC hours of the last 365 days (fewer where its hourly history is shorter); the latest closed hour is added within ten minutes.