ENA / ETH ratio and spread
1 ENA = 5.56E-5 ETH. Below is the price ratio chart and the regression spread z-score. Hedge ratio β is 2.042 and the correlation between the legs is 0.66.
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Key numbers
over 350 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 0.66, with a hedge ratio of 2.04. Signals from this pair carry more noise than on a tightly linked one.
The spread is at -1.01 standard deviations from its rolling mean: away from the norm, but not far enough to call it stretched.
Historically the spread covers half the way back to its mean in about 11 days, so a divergence here tends to resolve within weeks rather than months.
The current ratio sits near the bottom of its range — only 16% of the way from the low to the high of the last 350 daily candles.
Frequently asked
How many ETH is 1 ENA?
1 ENA is worth 0.000055630941627305 ETH at the latest exchange quotes. The figure is the ratio of the two USDT prices and updates every minute.
What is the ENA/ETH range?
Over the last 350 daily candles the ratio traded between 0.000038003475410763 (05.04.2026) and 0.000145016 (02.10.2025).
Are ENA and ETH correlated?
The correlation of daily log returns between ENA and ETH is 0.66, 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 ENA/ETH spread z-score now?
The z-score is -1.01 — 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 ENA/ETH suitable for a pair trade?
The mechanics hold up: correlation is 0.66 and the spread historically covers half the way back to its mean in about 11 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.