ETH Volatility Analysis for Personal Income, 31st January 2020

Data Analysis

The release

Released by the Bureau of Economic Analysis on 31 January 2020 at 8:30 AM EST. The Personal Income and Outlays came in at -0.2% for December 2019, against 0.4% in November 2019. Personal income is falling, after a rise.

It arrived at the same moment as Personal Consumption Expenditures and Core Personal Consumption Expenditures, so the reaction measured on this page belongs to all of them together.

How Ethereum moved

Ethereum was at $177.42 when the figure came out. Fifteen minutes later it was 0.51% higher, and an hour later 0.06% lower. Its high-to-low range in the hour after was 0.99% of its price, against 2.58% in the hour before.

Measured by Clometrix

Ethereum's volatility ratio was 1.58x, against 1.80x for a typical Personal Income release since 2021. Its volume ratio was 1.85x, against a typical 2.15x. 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, Personal Income releases in the two weeks before a Fed decision have moved Ethereum about as much as those at other times: a median volatility ratio of 1.86x across 18, against 1.77x across 51. This one came out 2 days after the Federal Reserve's 29 January rate decision. Its own ratio of 1.58x compares with 1.77x for those, about what its circumstances would suggest.

Its record

Across 69 Personal Income releases since 2021, Ethereum's median volatility ratio is 1.80x.

About Personal Income and Outlays

Personal Income measures the change in the total value of income received from all sources by consumers. Income is closely correlated with consumer spending, which accounts for a majority of overall economic activity.