ADA Volatility Analysis for Continued Claims, 13th October 2022

Data Analysis

Measured by Clometrix

Cardano's volatility ratio was 9.98x, against 1.35x for a typical Continued Claims release since 2021. Its volume ratio was 10.47x, against a typical 1.63x. That is more than twice what this release usually does. Both compare the quarter hour of the release with an ordinary quarter hour that same day, where 1.00x is no change: volatility is how far the price ranged, volume how much traded.

How Cardano moved

Cardano was at $0.3687 when the figure came out. Fifteen minutes later it was 2.33% lower, and an hour later 2.52% lower. Its high-to-low range in the hour after was 5.48% of its price, against 3.72% in the hour before.

The release

Released by the Department of Labor on 13 October 2022 at 8:30 AM EDT. Continued Jobless Claims rose to 1406K for the week ending 1st Oct, from 1392K in the week ending 24th Sep.

It arrived at the same moment as Consumer Price Index, Core Consumer Price Index, Core Inflation Rate and Initial Jobless Claims, so the reaction measured on this page belongs to all of them together.

What made it matter

Since 2021, Continued Claims releases in the two weeks before a Fed decision have moved Cardano about as much as those at other times: a median volatility ratio of 1.33x across 93, against 1.36x across 206. This one was not within two weeks of a Fed decision. Its own ratio of 9.98x compares with 1.36x for those, so it moved the price more than its circumstances alone would suggest.

Its record

Across 299 Continued Claims releases since 2021, Cardano's median volatility ratio is 1.35x.

About Continued Jobless Claims

The weekly claims report is released Thursdays at 8:30 a.m. ET by the U.S. Department of Labor (DOL). Continued claims, also referred to as insured unemployment, is the number of people who have already filed an initial claim and who have experienced a week of unemployment and then filed a continued claim to claim benefits for that week of unemployment. Continued claims data are based on the week of unemployment, not the week when the initial claim was filed.