ETH / LINK ratio and spread
1 ETH = 202 LINK. Below is the price ratio chart and the regression spread z-score. Hedge ratio β is 0.951 and the correlation between the legs is 0.73.
If you hold ETH · If you hold LINK
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Key numbers
over 2843 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 closely together — correlation of daily log returns is 0.73. The fitted hedge ratio is 0.95, meaning roughly 0.95 units of LINK exposure balance one unit of ETH.
The spread is at -0.86 standard deviations from its rolling mean, which is effectively at its own norm.
Reversion is slow: the spread needs roughly 377 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 mid-range — 54% of the way from the low to the high of the last 2843 daily candles.
When this happened before
Divergences over 2664 candles: 17. Closed by a return to the norm: 16. The median return took 46 days, the longest one 240 days.
The last closed one ran from 15.08.2026 to 11.09.2026, 27 days: peak z = -2.69, LINK was expensive against ETH.
One is running right now: it started on 26.09.2026, has lasted 32 days, peak z = -3.58, LINK was expensive against ETH. It has not returned to the norm yet.
For a holder this answers not “what to do” but “how long it usually took”: the median return is 46 days. That is no guarantee — past divergences closed, this one may not.
| Period | Expensive leg | Peak z | Return |
|---|---|---|---|
| 15.08.2026 — 11.09.2026 | LINK | -2.69 | 27 d |
| 05.06.2026 — 08.07.2026 | LINK | -2.58 | 33 d |
| 11.04.2026 — 06.05.2026 | ETH | 2.62 | 25 d |
| 30.05.2025 — 18.08.2025 | ETH | 2.54 | 80 d |
| 22.11.2024 — 08.05.2025 | LINK | -5.95 | 167 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 LINK is 1 ETH?
1 ETH is worth 201.999 LINK at the latest exchange quotes. The figure is the ratio of the two USDT prices and updates every minute.
What is the ETH/LINK range?
Over the last 2843 daily candles the ratio traded between 21.7288 (16.08.2020) and 357.45 (24.02.2019).
Are ETH and LINK correlated?
The correlation of daily log returns between ETH and LINK is 0.73, which counts as a strong 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 ETH/LINK spread z-score now?
The z-score is -0.86 — 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 ETH/LINK suitable for a pair trade?
The mechanics hold up: correlation is 0.73 and the spread historically covers half the way back to its mean in about 377 days. That is a description of past behaviour, not a forecast or a recommendation.
How often do ETH and LINK diverge?
Over 2664 daily candles the spread left ±2σ 17 times. The median return to the norm took 46 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.