AAVE / PAXG ratio and spread
1 AAVE = 0.0343936 PAXG. Below is the price ratio chart and the regression spread z-score. Hedge ratio β is 0.195 and the correlation between the legs is 0.10.
If you hold AAVE · If you hold PAXG
Sign in to keep favourite pairs.
Alerts
Sign in to set your own alerts.
Key numbers
over 2210 daily candles
How each of these is computed: regression spread, hedge ratio, spread z-score, half-life, correlation.
What the numbers say
The legs barely move together: correlation of daily log returns is only 0.10. A spread built on such a weak link reverts by coincidence rather than by mechanism.
The spread is at 0.93 standard deviations from its rolling mean, which is effectively at its own norm.
Reversion is slow: the spread needs roughly 136 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 6% of the way from the low to the high of the last 2210 daily candles.
When this happened before
Divergences over 2031 candles: 11. Closed by a return to the norm: 10. The median return took 71 days, the longest one 235 days.
The last closed one ran from 03.11.2025 to 26.06.2026, 235 days: peak z = -3.18, PAXG was expensive against AAVE.
One is running right now: it started on 22.08.2026, has lasted 72 days, peak z = 2.93, AAVE was expensive against PAXG. It has not returned to the norm yet.
For a holder this answers not “what to do” but “how long it usually took”: the median return is 71 days. That is no guarantee — past divergences closed, this one may not.
| Period | Expensive leg | Peak z | Return |
|---|---|---|---|
| 03.11.2025 — 26.06.2026 | PAXG | -3.18 | 235 d |
| 07.11.2024 — 07.02.2025 | AAVE | 3.31 | 92 d |
| 21.08.2024 — 04.11.2024 | AAVE | 2.77 | 75 d |
| 07.03.2024 — 12.04.2024 | AAVE | 2.32 | 36 d |
| 22.10.2023 — 31.01.2024 | AAVE | 3.23 | 101 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 PAXG is 1 AAVE?
1 AAVE is worth 0.0343936 PAXG at the latest exchange quotes. The figure is the ratio of the two USDT prices and updates every minute.
What is the AAVE/PAXG range?
Over the last 2210 daily candles the ratio traded between 0.0145984 (09.06.2026) and 0.349372 (18.05.2021).
Are AAVE and PAXG correlated?
The correlation of daily log returns between AAVE and PAXG is 0.10, which counts as a weak 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/PAXG spread z-score now?
The z-score is 0.93 — 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/PAXG suitable for a pair trade?
Weakly. Correlation is only 0.10, so the legs do not reliably move together and the spread carries mostly idiosyncratic noise.
How often do AAVE and PAXG diverge?
Over 2031 daily candles the spread left ±2σ 11 times. The median return to the norm took 71 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.