Comparative Analysis of Crypto Sentiment Indices

This report presents a two-year horse-race evaluation of leading cryptocurrency sentiment indices, benchmarking Nodiens against Santiment, AltIndex, and CFGI under a unified statistical framework. Results show that sentiment is most powerful at the monthly horizon, with the Nodiens Mood Index demonstrating a clear performance advantage by capturing persistent shifts in market mood and delivering significantly stronger alignment with crypto price dynamics.

This report benchmarks four leading crypto sentiment indices—Nodiens, Santiment, AltIndex, and CFGI—over a two-year period using a unified statistical framework. Results show that sentiment effects strengthen at the monthly horizon, with the Nodiens Mood Index delivering more than double the correlation with crypto price returns compared to alternative measures. The findings highlight the importance of index design and position Nodiens as a stronger indicator of persistent market mood.