ERA / U ratio and spread
1 ERA = 0.0804839 U. Below is the price ratio chart and the regression spread z-score. Hedge ratio β is 21.285 and the correlation between the legs is -0.18.
If you hold ERA · If you hold U
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Key numbers
over 272 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 -0.18. A spread built on such a weak link reverts by coincidence rather than by mechanism.
The spread is at -0.33 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 272 daily candles.
Frequently asked
How many U is 1 ERA?
1 ERA is worth 0.0804839 U at the latest exchange quotes. The figure is the ratio of the two USDT prices and updates every minute.
What is the ERA/U range?
Over the last 272 daily candles the ratio traded between 0.0563774 (17.09.2026) and 0.298 (25.01.2026).
Are ERA and U correlated?
The correlation of daily log returns between ERA and U is -0.18, 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/U spread z-score now?
The z-score is -0.33 — 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/U suitable for a pair trade?
Weakly. Correlation is only -0.18, so the legs do not reliably move together and the spread carries mostly idiosyncratic noise.
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.