ADA Volatility Analysis for Import Prices, 14th December 2023

Data Analysis

Measured by Clometrix

Cardano's volatility ratio was 4.63x, against 1.07x for a typical Import Prices release since 2021. Its volume ratio was 6.46x, against a typical 1.34x. 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 $0.6271 when the figure came out. Fifteen minutes later it was 1% higher, and an hour later 1.39% higher. Its high-to-low range in the hour after was 4.26% of its price, against 5.49% in the hour before.

The release

Released by the Bureau of Labor Statistics on 14 December 2023 at 8:30 AM EST. The Import Price Index came in at -0.5% for November 2023, against -0.6% in October 2023. Import prices are still falling, but more slowly than before.

It arrived at the same moment as Retail Sales, Retail Sales Excluding Automobiles, Export Price Index, Initial Jobless Claims and Continued Jobless Claims, so the reaction measured on this page belongs to all of them together.

What made it matter

Since 2021, Import Prices releases in the two weeks before a Fed decision have moved Cardano less than those at other times: a median volatility ratio of 1.00x across 27, against 1.20x across 42. This one came out the day after the Federal Reserve's 13 December rate decision. Its own ratio of 4.63x compares with 1.20x for those, so it moved the price more than its circumstances alone would suggest.

Its record

Across 69 Import Prices releases since 2021, Cardano's median volatility ratio is 1.07x.

About Import Price Index

The U.S. import price index (MXP) measure the change in prices of goods and services purchased from abroad by U.S. consumers and businesses. The MXP measure changes in the prices of non-military goods and services, providing information as to the strength of the U.S. economy and consumer spending, and the pace of rising import prices.