SOPR

Spent output profit ratio: the price coins were sold at divided by the price they were bought at, for all coins that moved that day.

What it means

Above 1, coins moved at a profit on average; below 1, at a loss.

What to watch

Dips to about 1 during uptrends, and long stretches below 1.

How Compass-Alpha uses it

Background only; not used in any figure on Compass-Alpha.