ADA Volatility Analysis for CPI, 14th November 2023

Data Analysis

The release

Released by the Bureau of Labor Statistics on 14 November 2023 at 8:30 AM EST. The Consumer Price Index came in at 0.1% for October 2023, against 0.4% in September 2023. Consumer prices are still rising, but more slowly than before.

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

How Cardano moved

Cardano was at $0.3597 when the figure came out. Fifteen minutes later it was 1.75% higher, and an hour later 1.92% higher. Its high-to-low range in the hour after was 2.56% of its price, against 1.97% in the hour before.

Measured by Clometrix

Cardano's volatility ratio was 4.09x, against 3.64x for a typical CPI release since 2021. Its volume ratio was 5.66x, against a typical 6.80x. That is about 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.

What made it matter

Since 2021, CPI 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 3.67x across 28, against 3.64x across 42. This one was not within two weeks of a Fed decision. Its own ratio of 4.09x compares with 3.64x for those, about what its circumstances would suggest.

Its record

Across 70 CPI releases since 2021, Cardano's median volatility ratio is 3.64x.

About Consumer Price Index

The Consumer Price Index (CPI) measures the monthly change in prices paid by U.S. consumers. The Bureau of Labor Statistics (BLS) calculates the CPI as a weighted average of prices for a basket of goods and services representative of aggregate U.S. consumer spending. The CPI is one of the most popular measures of inflation and deflation. The index is published monthly by the U.S. Bureau of Labor Statistics (BLS).