ENA / POL ratio and spread
1 ENA = 2.188 POL. Below is the price ratio chart and the regression spread z-score. Hedge ratio β is 1.764 and the correlation between the legs is 0.58.
If you hold ENA · If you hold POL
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Key numbers
over 377 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 0.58, with a hedge ratio of 1.76. Signals from this pair carry more noise than on a tightly linked one.
The spread currently sits at 2.28 standard deviations above its rolling mean — ENA is expensive relative to POL by the standards of this window.
Historically the spread covers half the way back to its mean in about 19 days, so a divergence here tends to resolve within weeks rather than months.
The current ratio sits mid-range — 72% of the way from the low to the high of the last 377 daily candles.
Frequently asked
How many POL is 1 ENA?
1 ENA is worth 2.18837 POL at the latest exchange quotes. The figure is the ratio of the two USDT prices and updates every minute.
What is the ENA/POL range?
Over the last 377 daily candles the ratio traded between 0.869612 (05.04.2026) and 2.70215 (02.10.2025).
Are ENA and POL correlated?
The correlation of daily log returns between ENA and POL is 0.58, 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/POL spread z-score now?
The z-score is 2.28 — 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 ENA/POL suitable for a pair trade?
The mechanics hold up: correlation is 0.58 and the spread historically covers half the way back to its mean in about 19 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.