ALICE / NIGHT ratio and spread
1 ALICE = 5.032 NIGHT. Below is the price ratio chart and the regression spread z-score. Hedge ratio β is -0.082 and the correlation between the legs is 0.14.
If you hold ALICE · If you hold NIGHT
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Key numbers
over 206 daily candles
How each of these is computed: regression spread, hedge ratio, spread z-score, half-life, correlation.
What the numbers say
The fitted hedge ratio is negative: over the window ALICE and NIGHT moved in opposite directions. A pair trade assumes the legs move together, so this combination does not qualify as one.
The spread currently sits at 4.21 standard deviations above its rolling mean — ALICE is expensive relative to NIGHT by the standards of this window.
Historically the spread covers half the way back to its mean in about 7 days, so a divergence here tends to resolve within weeks rather than months.
The current ratio sits mid-range — 36% of the way from the low to the high of the last 206 daily candles.
Frequently asked
How many NIGHT is 1 ALICE?
1 ALICE is worth 5.03208 NIGHT at the latest exchange quotes. The figure is the ratio of the two USDT prices and updates every minute.
What is the ALICE/NIGHT range?
Over the last 206 daily candles the ratio traded between 2.06716 (28.03.2026) and 10.1908 (15.08.2026).
Are ALICE and NIGHT correlated?
The correlation of daily log returns between ALICE and NIGHT is 0.14, 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 ALICE/NIGHT spread z-score now?
The z-score is 4.21 — the spread is stretched beyond two standard deviations. It measures how far the regression residual log(A) − β·log(B) sits from its rolling mean, in standard deviations.
Is ALICE/NIGHT suitable for a pair trade?
No. The fitted hedge ratio is negative, meaning the legs moved in opposite directions over the window — the market-neutral construction that pair trading relies on does not hold here.
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.