PAXG: Beta to BTC (7D)
7-day beta of PAXG to BTC.
Why use it. How strongly PAXG amplifies Bitcoin's moves. How to read it. Above 1 PAXG 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 PAXG/USD index from public exchange candles, from 28 August 2020. In the last 30 days it drew on the markets of Binance, Bitstamp, Coinbase, Kraken, KuCoin and OKX.