Free tool · Market statistics
Copper (COPPER) volatility by hour, day and month
When Copper moves, how much, and on which days — measured on 1470 trading days of real one-minute data from our broker feed, 2021-01-04 to 2026-10-30. Descriptive statistics of the past, not a forecast.
Volatility by hour
Over the last 12 months, the hour with the widest average range on Copper was 13:00–14:00 UTC (88.1 bp), and the quietest was 04:00–05:00 UTC (31.5 bp): 2.8 times smaller.
Average range of each one-hour bar, in basis points of price. Hours without prices in our feed are not drawn.
Table: range by hour, UTC, last 12 months
| Hour (UTC) | Mean, bp | Median, bp | Hours measured |
|---|---|---|---|
| 00:00 | 41.0 | 27.0 | 89 |
| 01:00 | 82.3 | 64.7 | 89 |
| 02:00 | 71.4 | 53.4 | 89 |
| 03:00 | 54.9 | 43.9 | 87 |
| 04:00 | 31.5 | 26.2 | 87 |
| 05:00 | 65.3 | 53.2 | 87 |
| 06:00 | 66.2 | 49.4 | 87 |
| 07:00 | 48.3 | 41.7 | 87 |
| 08:00 | 60.8 | 52.2 | 87 |
| 09:00 | 61.8 | 54.0 | 87 |
| 10:00 | 44.2 | 39.8 | 87 |
| 11:00 | 45.5 | 35.1 | 87 |
| 12:00 | 58.5 | 48.9 | 87 |
| 13:00 | 88.1 | 80.4 | 87 |
| 14:00 | 87.9 | 79.9 | 88 |
| 15:00 | 85.0 | 72.2 | 88 |
| 16:00 | 61.5 | 53.4 | 88 |
| 17:00 | 53.3 | 46.7 | 88 |
| 18:00 | 45.2 | 35.3 | 87 |
| 19:00 | 37.2 | 28.6 | 87 |
| 20:00 | 38.5 | 30.1 | 83 |
| 23:00 | 39.8 | 26.7 | 89 |
Day of the week
Wednesday has the widest average daily range (2.48%), Monday the narrowest (2.31%). No day shows an average open-to-close return that is distinguishable from zero at 95% confidence.
| Day | Average range | Open → close, mean ± 95% CI | Up days | Days |
|---|---|---|---|---|
| Monday | 2.31 % | +0.136 % ± 0.160 | 54.4 % | 294 |
| Tuesday | 2.35 % | −0.046 % ± 0.173 | 49.7 % | 296 |
| Wednesday | 2.48 % | −0.040 % ± 0.231 | 50.5 % | 295 |
| Thursday | 2.46 % | +0.038 % ± 0.182 | 50.5 % | 295 |
| Friday | 2.43 % | +0.064 % ± 0.200 | 50.3 % | 290 |
Average open → close return, year by year (%)
| Year | Mon | Tue | Wed | Thu | Fri |
|---|---|---|---|---|---|
| 2021 | +0.225 | −0.230 | −0.133 | +0.081 | +0.503 |
| 2022 | −0.544 | −0.042 | +0.335 | +0.048 | −0.003 |
| 2023 | +0.028 | −0.168 | −0.160 | +0.069 | +0.076 |
| 2024 | +0.255 | −0.168 | −0.167 | +0.127 | +0.055 |
| 2025 | +0.207 | +0.155 | +0.135 | +0.109 | −0.188 |
| 2026 | +0.682 | +0.206 | −0.293 | −0.245 | −0.057 |
Monthly seasonality
Return of each calendar month, from the first open to the last close. With only 6 years per month, one unusual year moves the average a lot: the median and the year-by-year table are there to show it.
| Month | Mean | Median | Positive | Years |
|---|---|---|---|---|
| January | +2.85 % | +2.33 % | 83 % | 6 |
| February | +3.82 % | +3.41 % | 67 % | 6 |
| March | +1.74 % | +2.60 % | 67 % | 6 |
| April | +1.99 % | +0.63 % | 50 % | 6 |
| May | +1.45 % | +2.23 % | 67 % | 6 |
| June | −3.71 % | −4.07 % | 33 % | 6 |
| July | −1.36 % | +0.89 % | 50 % | 6 |
| August | −0.52 % | +0.35 % | 67 % | 6 |
| September | +1.01 % | −1.35 % | 33 % | 6 |
| October | +0.75 % | −0.23 % | 50 % | 6 |
| November | +1.44 % | −0.21 % | 40 % | 5 |
| December | +2.09 % | +0.97 % | 80 % | 5 |
Every month, year by year (%)
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | +0.1 | +16.0 | −4.1 | +12.5 | +4.7 | −9.1 | +4.4 | −2.7 | −4.4 | +6.5 | −0.2 | +1.8 |
| 2022 | −2.9 | +3.5 | +5.4 | −7.4 | −1.3 | −12.1 | −2.6 | +0.0 | −2.2 | +1.1 | +7.8 | +0.8 |
| 2023 | +9.1 | −5.0 | +0.9 | −4.7 | −5.7 | +0.7 | +4.5 | −4.3 | −2.6 | −2.7 | +5.1 | +1.0 |
| 2024 | +0.4 | −1.4 | +4.3 | +15.4 | +2.4 | −5.5 | −6.5 | +0.7 | +8.9 | −4.2 | −5.1 | −1.3 |
| 2025 | +6.3 | +6.4 | +10.5 | −9.7 | +2.1 | +6.3 | −13.0 | +2.3 | +6.9 | +5.4 | −0.4 | +8.2 |
| 2026 | +4.2 | +3.3 | −6.6 | +5.9 | +6.6 | −2.6 | +5.1 | +0.9 | −0.5 | −1.6 | — | — |
Trading sessions
How much of the day's range happens inside each session, over the last 12 months. Sessions overlap, so the shares do not add up to 100%. A session with no prices in our feed is not listed.
| Session | Average range | Median share of the day's range | Days |
|---|---|---|---|
| Tokyo 09:00–15:00 Tokyo time | 127.7 bp | 51 % | 256 |
| London 08:00–16:30 London time | 170.8 bp | 73 % | 256 |
| New York 08:00–17:00 New York time | 158.8 bp | 66 % | 256 |
Volatility over the last year
ATR (14) as a percentage of the price, one point per trading day.
How it is measured
- One-minute bid prices from the cTrader broker feed we use for our own backtests: 1470 complete trading days, 2021-01-04 to 2026-10-30.
- A trading day is the broker's: it closes at 17:00 New York time, as in cTrader. Partial days (holidays) are left out.
- Range = high − low of the period, as a share of its opening price. 1 bp (basis point) = 0.01%. ATR is Wilder's 14-day average true range.
- The hourly profile is measured in UTC and kept separately for US summer and winter time, so the hours shown in your time zone stay right all year.
- Updated every day after the market data sync. These are descriptive statistics of the past: they are not a forecast and not a trading signal.