Crypto Relative Value
Composite Z: -0.28σ (38th percentile)
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BTC/SPX, ETH/BTC, BTC/Gold rolling z-scores - relative-value composite signal.
- BTC $78,419, ETH $2,526
- Composite Z: -0.28σ (38th percentile)
- 6 oversold signals since 2017-01-01
BTC/SPX Z
-0.80σ
ETH/BTC Z
+0.42σ
BTC/Gold Z
-0.47σ
Composite Z
-0.28σ
BTC Price
$78,419
ETH Price
$2,526
When to run this study
Run when considering adding or sizing up crypto exposure. Identifies when BTC is historically cheap relative to equities (BTC/SPX), gold (BTC/Gold), and when ETH is cheap within crypto (ETH/BTC) — the composite of all three flags the highest-conviction dip-buying windows.
Historical results
Current Z-Scores
| Ratio | Z-Score | Percentile |
|---|---|---|
| BTC/SPX | -0.80 | 25.80 |
| ETH/BTC | 0.42 | 73.20 |
| BTC/Gold | -0.47 | 31.40 |
| Composite | -0.28 | 38.10 |