STRONG (like a bull!) recovery continues!
Index 1: 85.09 (LTC recovery brings this back closer to Index 2)
Index 2: 86.81
Index 3: 81.78 (this one is the one that I think represents the total market the best)
Index 4: 82.39
Index 5: 88.21
Index 6: 86.62 (these last two are most volatile, it seems, because they are price-weighted)
meta: 85.15
Indexes have basically recovered halfway from their downturns. Your portfolio may have seen a 33% increase over the last few days and possibly 12-13% in the last 36 hours. If this is NOT the case, you might have chosen the wrong alts.
As of 20 minutes ago...
Index 1: 87.13
Index 2: 97.53 (remember, this index includes neither BTC or LTC, but might skew high)
Index 3: 92.93 (also includes neither BTC or LTC and I would claim this is the most pure-play, cap-weight alt index...contains a basket of 31 alts that are tops in combined volume/market cap. If I re-balanced every WEEK, I think the number would be closer to Index 2)
Index 4: 84.24 (includes LTC, which is still down from the start of this index in early August.)
Index 5: 89.81
Index 6: 85.73 (indexes 5 and 6 are price-weighted, and the relative underperformance of BTC over the time period is actually baked into the weighted prices. Honestly, I'm considering using BTC-denominated price starting with the next re-balance)
meta: 89.56
In the last four days, the biggest movements have come from Index 2 and Index 3. Everything else is up around 5% or less since last update, but these indexes representing purest-play alts are up 10% or more in 4 days.
Since the beginning of the indexes on 8/4, BTC has gone from $590 and change to a shade over $500. It looks as though alts plunged farther faster, but have been outperforming BTC in their recent recovery.
Amazing recovery continues...furthermore there are now some pretty significant divergences that separate the players from the also-rans. Just my humble opinion, but this kind of market movement illustrates the value of indexing and the need for the resource in toolbox of anybody interested in alts.
Index 1: 105.57
Index 2: 128.54 (again, does not include BTC or LTC, but it does include all other currencies on coinmarketcap. LTC has recovered from its recent depths, but still well below where it was early in August)
Index 3: 125.07 (I continue to believe that this one most closely approximates the alt market in the truest sense....it contains 31 alts selected by price/volume combination and re-balanced bi-weekly. No BTC or LTC. Cap weighted. Give me a few months and I may very well offer an open-ended mutual fund type investment in this "basket" of alts!)
Index 4: 102.78 (LTC drags this back down a bit, but still over the August 4th level)
Index 5: 92.53
Index 6: 88.10
Meta index: 107.01
Remember, these indexes were largely in the 50's and 60's just 11 days ago when alts were taking a serious beating.
Indexes 5 and 6 are price weighted, like the DJIA. Interestingly they have NOT recovered quite as well. From what I can tell, the reason is that the recovery has been especially acute in some of the higher-cap alts. My quick check shows that Ripple has gone from $40mm in cap to $140mm and BTSX has gone from as low as $16mm to around $60mm right now.
If your portfolio is full of those, you're looking at my index and asking why in the hell anybody would index. If you're lugging around nothing but BTC and LTC, you can only wish you had a 25% return in August.
