DOT / PHA ratio and spread
1 DOT = 14.9 PHA. Below is the price ratio chart and the regression spread z-score. Hedge ratio β is 1.103 and the correlation between the legs is 0.49.
If you hold DOT · If you hold PHA
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Key numbers
over 363 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 0.49, with a hedge ratio of 1.10. Signals from this pair carry more noise than on a tightly linked one.
The spread currently sits at -5.70 standard deviations from its rolling mean — DOT is cheap relative to PHA by the standards of this window.
Reversion is slow: the spread needs roughly 67 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 0% of the way from the low to the high of the last 363 daily candles.
Frequently asked
How many PHA is 1 DOT?
1 DOT is worth 14.898 PHA at the latest exchange quotes. The figure is the ratio of the two USDT prices and updates every minute.
What is the DOT/PHA range?
Over the last 363 daily candles the ratio traded between 14.898 (26.09.2026) and 70.9746 (28.02.2026).
Are DOT and PHA correlated?
The correlation of daily log returns between DOT and PHA is 0.49, 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 DOT/PHA spread z-score now?
The z-score is -5.70 — 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 DOT/PHA suitable for a pair trade?
The mechanics hold up: correlation is 0.49 and the spread historically covers half the way back to its mean in about 67 days. That is a description of past behaviour, not a forecast or a recommendation.
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.