MERL: Beta to BTC (7D)
7-day beta of MERL to BTC.
Why use it. How strongly MERL amplifies Bitcoin's moves. How to read it. Above 1 MERL 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 MERL/USD index from public exchange candles, from 19 April 2024. In the last 30 days it drew on the markets of Bybit, Kraken, KuCoin and OKX.