INJ / SAGA ratio and spread
1 INJ = 213.4 SAGA. Below is the price ratio chart and the regression spread z-score. Hedge ratio β is 0.219 and the correlation between the legs is 0.45.
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Key numbers
over 357 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 0.45, with a hedge ratio of 0.22. Signals from this pair carry more noise than on a tightly linked one.
The spread currently sits at 3.37 standard deviations above its rolling mean — INJ is expensive relative to SAGA by the standards of this window.
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 mid-range — 42% of the way from the low to the high of the last 357 daily candles.
Frequently asked
How many SAGA is 1 INJ?
1 INJ is worth 213.404 SAGA at the latest exchange quotes. The figure is the ratio of the two USDT prices and updates every minute.
What is the INJ/SAGA range?
Over the last 357 daily candles the ratio traded between 49.0807 (21.11.2025) and 440.724 (09.06.2026).
Are INJ and SAGA correlated?
The correlation of daily log returns between INJ and SAGA is 0.45, 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 INJ/SAGA spread z-score now?
The z-score is 3.37 — 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 INJ/SAGA suitable for a pair trade?
The mechanics hold up: correlation is 0.45 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.