AAVE / ETH ratio and spread
1 AAVE = 0.0592203 ETH. Below is the price ratio chart and the regression spread z-score. Hedge ratio β is 0.833 and the correlation between the legs is 0.74.
If you hold AAVE · If you hold ETH
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Key numbers
over 2209 daily candles
How each of these is computed: regression spread, hedge ratio, spread z-score, half-life, correlation.
What the numbers say
The legs move closely together — correlation of daily log returns is 0.74. The fitted hedge ratio is 0.83, meaning roughly 0.83 units of ETH exposure balance one unit of AAVE.
The spread is at 1.08 standard deviations from its rolling mean: away from the norm, but not far enough to call it stretched.
Reversion is slow: the spread needs roughly 208 days to cover half the way back to its mean. A position would have to be held for a long time.
The current ratio sits near the bottom of its range — only 12% of the way from the low to the high of the last 2209 daily candles.
When this happened before
Divergences over 2030 candles: 11. Closed by a return to the norm: 11. The median return took 79 days, the longest one 202 days.
The last closed one ran from 23.08.2026 to 30.10.2026, 68 days: peak z = 3.02, AAVE was expensive against ETH.
For a holder this answers not “what to do” but “how long it usually took”: the median return is 79 days. That is no guarantee — past divergences closed, this one may not.
| Period | Expensive leg | Peak z | Return |
|---|---|---|---|
| 23.08.2026 — 30.10.2026 | AAVE | 3.02 | 68 d |
| 27.03.2026 — 24.06.2026 | ETH | -3.08 | 89 d |
| 31.07.2025 — 14.02.2026 | ETH | -2.50 | 198 d |
| 10.06.2025 — 17.07.2025 | AAVE | 2.10 | 37 d |
| 06.08.2024 — 24.02.2025 | AAVE | 3.52 | 202 d |
A divergence here is the spread z-score leaving ±2σ; the return is the first value back inside ±0.5σ. Two thresholds rather than one: otherwise chatter right at the border would count as a dozen separate divergences. The first bars of the window are skipped — there z is computed on partial history.
Frequently asked
How many ETH is 1 AAVE?
1 AAVE is worth 0.0592203 ETH at the latest exchange quotes. The figure is the ratio of the two USDT prices and updates every minute.
What is the AAVE/ETH range?
Over the last 2209 daily candles the ratio traded between 0.0233927 (22.06.2024) and 0.316491 (10.02.2021).
Are AAVE and ETH correlated?
The correlation of daily log returns between AAVE and ETH is 0.74, which counts as a strong link. Log returns are used rather than prices: two rising assets correlate almost by default, joint day-to-day movement is what matters.
What is the AAVE/ETH spread z-score now?
The z-score is 1.08 — the spread is within its usual range. It measures how far the regression residual log(A) − β·log(B) sits from its rolling mean, in standard deviations.
Is AAVE/ETH suitable for a pair trade?
The mechanics hold up: correlation is 0.74 and the spread historically covers half the way back to its mean in about 208 days. That is a description of past behaviour, not a forecast or a recommendation.
How often do AAVE and ETH diverge?
Over 2030 daily candles the spread left ±2σ 11 times. The median return to the norm took 79 days.
Related pairs
Other pairs sharing a leg with this one.
All figures are computed from exchange data and describe past behaviour. Nothing here is investment advice.