ENJ / WLD ratio and spread
1 ENJ = 0.0623377 WLD. Below is the price ratio chart and the regression spread z-score. Hedge ratio β is 1.000 and the correlation between the legs is 0.54.
If you hold ENJ · If you hold WLD
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Key numbers
over 1168 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 0.54, with a hedge ratio of 1.00. Signals from this pair carry more noise than on a tightly linked one.
The spread is at -0.84 standard deviations from its rolling mean, which is effectively at its own norm.
Reversion is slow: the spread needs roughly 53 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 10% of the way from the low to the high of the last 1168 daily candles.
Frequently asked
How many WLD is 1 ENJ?
1 ENJ is worth 0.0623377 WLD at the latest exchange quotes. The figure is the ratio of the two USDT prices and updates every minute.
What is the ENJ/WLD range?
Over the last 1168 daily candles the ratio traded between 0.0322026 (09.09.2025) and 0.328064 (24.04.2026).
Are ENJ and WLD correlated?
The correlation of daily log returns between ENJ and WLD is 0.54, 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 ENJ/WLD spread z-score now?
The z-score is -0.84 — 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 ENJ/WLD suitable for a pair trade?
The mechanics hold up: correlation is 0.54 and the spread historically covers half the way back to its mean in about 53 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.