PAXG: Correlation to BTC (7D)
7-day correlation of PAXG and BTC hourly returns.
Why use it. Shows whether PAXG 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 PAXG and BTC indexes. 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.