ERA / STEEM ratio and spread
1 ERA = 1.572 STEEM. 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 0.37.
If you hold ERA · If you hold STEEM
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Key numbers
over 392 daily candles
How each of these is computed: regression spread, hedge ratio, spread z-score, half-life, correlation.
What the numbers say
The legs barely move together: correlation of daily log returns is only 0.37. A spread built on such a weak link reverts by coincidence rather than by mechanism.
The spread is at -0.63 standard deviations from its rolling mean, which is effectively at its own norm.
Historically the spread covers half the way back to its mean in about 22 days, so a divergence here tends to resolve within weeks rather than months.
The current ratio sits near the bottom of its range — only 13% of the way from the low to the high of the last 392 daily candles.
When this happened before
Divergences over 213 candles: 1. Closed by a return to the norm: 1. The median return took 64 days, the longest one 64 days.
The last closed one ran from 21.08.2026 to 24.10.2026, 64 days: peak z = -5.85, STEEM was expensive against ERA.
For a holder this answers not “what to do” but “how long it usually took”: the median return is 64 days. That is no guarantee — past divergences closed, this one may not.
| Period | Expensive leg | Peak z | Return |
|---|---|---|---|
| 21.08.2026 — 24.10.2026 | STEEM | -5.85 | 64 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 STEEM is 1 ERA?
1 ERA is worth 1.57239 STEEM at the latest exchange quotes. The figure is the ratio of the two USDT prices and updates every minute.
What is the ERA/STEEM range?
Over the last 392 daily candles the ratio traded between 0.651613 (13.09.2026) and 7.79427 (11.10.2025).
Are ERA and STEEM correlated?
The correlation of daily log returns between ERA and STEEM is 0.37, which counts as a weak 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 ERA/STEEM spread z-score now?
The z-score is -0.63 — 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 ERA/STEEM suitable for a pair trade?
Weakly. Correlation is only 0.37, so the legs do not reliably move together and the spread carries mostly idiosyncratic noise.
How often do ERA and STEEM diverge?
Over 213 daily candles the spread left ±2σ 1 times. The median return to the norm took 64 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.