Realized Volatility

Overview

The rolling realized volatility, measured as the standard deviation of the natural log of returns prices in U.S. dollars calculated every 10 minutes over the specified interval.

Metrics

Metric	Description	Frequency	Coverage
volatility_realized_usd_rolling_24h	The 24 hour rolling realized volatility, measured as the standard deviation of the natural log of returns calculated every 10 minutes over the past 24 hours.	10m, 1h, 1d	🔗
volatility_realized_usd_rolling_7d	The 7 day rolling realized volatility, measured as the standard deviation of the natural log of returns calculated every 10 minutes over the past 7 days.	10m, 1h, 1d	🔗
volatility_realized_usd_rolling_30d	The 30 day rolling realized volatility, measured as the standard deviation of the natural log of returns calculated every 10 minutes over the past 30 days.	10m, 1h, 1d	🔗

Data Sources and Methodology

Coin Metrics calculates realized volatility using our Real-Time Reference Rates as the price input. Volatility is calculated using the close-to-close method, as this is optimal for continuous markets and is widely accepted across financial literature. For this calculation we use the population mean with zero drift, meaning the formula reduces to:

$$RV=\sqrt{\frac{1}{N-1}\sum_{i=1}^{N}(ln(\frac{s_i}{s_{i-1}}) - 0)^2}\cdot\sqrt{T}$$

Where $RV$is the realized volatility (annualized), $N$is the lookback window, ${s_i}$ is the real-time reference rate price at time $i$, and $T$ is the time adjustment factor. Using an average return of 0 is standard in these calculations as it avoids misleading volatility numbers during sustained periods of substantially high or low return.

The real-time reference rates are resampled to calculate returns over a 10 minute period, as this frequency captures the rapid nature of volatility in cryptocurrency markets. Volatility is then annualized by setting $T=6⋅24⋅365$, as crypto markets trade 24 hours a day each day of the year. Volatility can then be calculated on a rolling window with a specified lookback.

Coverage

Coin Metrics CoverageCoin Metrics Coverage

API Endpoints

The metrics are served through the following endpoints:

• /timeseries/asset-metrics

Examples

Example for Asset Metrics

A sample of the volatility_realized_usd_rolling_30d metric for the asset btc from our /timeseries/asset-metrics API endpoint is provided below. You can view this example in your browser here.

[
  {
    "asset": "btc",
    "time": "2025-04-30T00:00:00.000000000Z",
    "volatility_realized_usd_rolling_30d": "0.5278415"
  },
  {
    "asset": "btc",
    "time": "2025-05-01T00:00:00.000000000Z",
    "volatility_realized_usd_rolling_30d": "0.5247378"
  },
  {
    "asset": "btc",
    "time": "2025-05-02T00:00:00.000000000Z",
    "volatility_realized_usd_rolling_30d": "0.5223685"
  }
]

Frequently Asked Questions

What units are the realized volatility metrics in?

The realized volatility metrics are presented in raw units. For instance, a value of 0.5223685 should be interpreted as 52.23685%.