DODO / ENA ratio and spread
1 DODO = 0.1217349 ENA. Below is the price ratio chart and the regression spread z-score. Hedge ratio β is 0.943 and the correlation between the legs is 0.48.
If you hold DODO · If you hold ENA
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Key numbers
over 938 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 together only moderately — correlation of daily log returns is 0.48, with a hedge ratio of 0.94. Signals from this pair carry more noise than on a tightly linked one.
The spread is at -0.35 standard deviations from its rolling mean, which is effectively at its own norm.
Reversion is slow: the spread needs roughly 78 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 938 daily candles.
When this happened before
Divergences over 759 candles: 5. Closed by a return to the norm: 5. The median return took 60 days, the longest one 143 days.
The last closed one ran from 27.08.2026 to 26.10.2026, 60 days: peak z = -3.25, ENA was expensive against DODO.
For a holder this answers not “what to do” but “how long it usually took”: the median return is 60 days. That is no guarantee — past divergences closed, this one may not.
| Period | Expensive leg | Peak z | Return |
|---|---|---|---|
| 27.08.2026 — 26.10.2026 | ENA | -3.25 | 60 d |
| 30.06.2026 — 20.08.2026 | DODO | 2.88 | 51 d |
| 26.01.2026 — 18.06.2026 | DODO | 3.18 | 143 d |
| 20.07.2025 — 09.10.2025 | ENA | -3.47 | 81 d |
| 14.12.2024 — 12.02.2025 | ENA | -2.80 | 60 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 ENA is 1 DODO?
1 DODO is worth 0.121735 ENA at the latest exchange quotes. The figure is the ratio of the two USDT prices and updates every minute.
What is the DODO/ENA range?
Over the last 938 daily candles the ratio traded between 0.0552309 (09.09.2025) and 0.597744 (20.09.2024).
Are DODO and ENA correlated?
The correlation of daily log returns between DODO and ENA is 0.48, which counts as a moderate 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 DODO/ENA spread z-score now?
The z-score is -0.35 — 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 DODO/ENA suitable for a pair trade?
The mechanics hold up: correlation is 0.48 and the spread historically covers half the way back to its mean in about 78 days. That is a description of past behaviour, not a forecast or a recommendation.
How often do DODO and ENA diverge?
Over 759 daily candles the spread left ±2σ 5 times. The median return to the norm took 60 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.