Correlation
The Correlation panel lets you watch the same microstructure metrics across multiple products on a shared time axis. It is useful for detecting lead-lag relationships between venues, observing cross-market divergence, and building compound alert conditions. Open it from the Corr button in the header.
What It Shows
Nine metrics are tracked per product in a live tabular view:
| Metric | Description |
|---|---|
| Volume Imbalance | (buy vol − sell vol) / total vol. Positive = buy-dominated |
| LOB Imbalance | (bid_qty − ask_qty) / total. Range [−1, +1] |
| Volume Rate | Trade volume per second |
| Tick Rate | Number of trades per second |
| Hawkes (All) | Overall trade-arrival intensity |
| Hawkes (Ask) | Ask-lift (buyer-initiated) intensity |
| Hawkes (Bid) | Bid-hit (seller-initiated) intensity |
| Arrival Ratio | (Hawkes_ask − Hawkes_bid) / (Hawkes_ask + Hawkes_bid) |
| OOR High / Low | Out-of-range flags — current price pressing against the rolling high or low |
A bar chart snapshot of current values appears alongside the table for at-a-glance comparison.
Setup
- Select up to 3 symbols from your product list using the checkboxes.
- For each symbol, select the metric to plot (volume imbalance, LOB imbalance, volume rate, tick rate, Hawkes, arrival ratio).
- Each (symbol, metric) combination appears as a separate line on the rolling chart.
Rolling Time-Series Chart
The rolling history chart shows how each selected signal has evolved over the lookback window — not just its current value. This is most useful for watching Hawkes intensity ramp before a move, or for observing LOB imbalance flip sides before price catches up.
Alert Configuration
Alerts fire when a set of conditions are met across selected products simultaneously.
Defining a condition:
- Select a metric (e.g. Volume Imbalance)
- Set a threshold (e.g. above
0.4) - Set a product scope — All selected products, or ≥ K of them (e.g. at least 2 of 3)
- Combine multiple clauses with AND logic for more selective conditions
Example: hl:ETH volume imbalance > 0.3 AND uni:WETH/USDC tick rate > 5 — fires only when both conditions pass simultaneously.
Cooldown: Set a cooldown period to prevent re-firing during a sustained condition. Once the condition clears and the cooldown expires, the alert is eligible to fire again.
Delivery: In-app notification banner and browser push notification (requires one-time permission grant). Alert history shows the last five fires per alert with timestamp and triggered value.
Use Cases
Cross-venue lead-lag:
Add hl:ETH and uni:WETH/USDC. HL perp flow often leads AMM price by 1–5 seconds. Watch HL volume imbalance vs Uni tick rate to see how the AMM reacts to perp-side momentum.
Cross-market divergence: Add BTC and ETH. When ETH LOB imbalance spikes while BTC remains flat, that divergence often resolves — the Correlation panel surfaces it before it appears in price.
Coordinated momentum: Watch Hawkes arrival ratio across multiple perps simultaneously. When the ratio shifts in the same direction across all of them, it often precedes a sector-wide move.
Compound alert confirmation:
Use a compound alert as a gate: hl:ETH volume imbalance > 0.35 AND uni:WETH/USDC tick rate > 5. The signal requires corroboration from a second venue before firing — significantly fewer false positives than a single-symbol alert.
Range breakout: OOR High and OOR Low metrics show when a product is pressing against the high or low of its recent range. Watching multiple products at once makes it easier to see which is leading.