DOGE / ONDO ratio and spread
1 DOGE = 0.1937136 ONDO. Below is the price ratio chart and the regression spread z-score. Hedge ratio β is 0.750 and the correlation between the legs is 0.74.
If you hold DOGE · If you hold ONDO
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Key numbers
over 568 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 0.75, meaning roughly 0.75 units of ONDO exposure balance one unit of DOGE.
The spread is at -0.79 standard deviations from its rolling mean, which is effectively at its own norm.
Reversion is slow: the spread needs roughly 81 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 568 daily candles.
When this happened before
Divergences over 389 candles: 3. Closed by a return to the norm: 3. The median return took 39 days, the longest one 107 days.
The last closed one ran from 07.05.2026 to 22.08.2026, 107 days: peak z = -5.29, ONDO was expensive against DOGE.
For a holder this answers not “what to do” but “how long it usually took”: the median return is 39 days. That is no guarantee — past divergences closed, this one may not.
| Period | Expensive leg | Peak z | Return |
|---|---|---|---|
| 07.05.2026 — 22.08.2026 | ONDO | -5.29 | 107 d |
| 30.04.2026 — 04.05.2026 | DOGE | 2.31 | 4 d |
| 04.01.2026 — 12.02.2026 | DOGE | 2.64 | 39 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 ONDO is 1 DOGE?
1 DOGE is worth 0.193714 ONDO at the latest exchange quotes. The figure is the ratio of the two USDT prices and updates every minute.
What is the DOGE/ONDO range?
Over the last 568 daily candles the ratio traded between 0.163965 (28.09.2026) and 0.414048 (29.04.2026).
Are DOGE and ONDO correlated?
The correlation of daily log returns between DOGE and ONDO 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 DOGE/ONDO spread z-score now?
The z-score is -0.79 — 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 DOGE/ONDO 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 81 days. That is a description of past behaviour, not a forecast or a recommendation.
How often do DOGE and ONDO diverge?
Over 389 daily candles the spread left ±2σ 3 times. The median return to the norm took 39 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.