LINK / RAY ratio and spread
1 LINK = 7.732 RAY. Below is the price ratio chart and the regression spread z-score. Hedge ratio β is 0.658 and the correlation between the legs is 0.78.
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Key numbers
over 350 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 0.78. The fitted hedge ratio is 0.66, meaning roughly 0.66 units of RAY exposure balance one unit of LINK.
The spread currently sits at -2.14 standard deviations from its rolling mean — LINK is cheap relative to RAY by the standards of this window.
Historically the spread covers half the way back to its mean in about 28 days, so a divergence here tends to resolve within weeks rather than months.
The current ratio sits near the bottom of its range — only 11% of the way from the low to the high of the last 350 daily candles.
Frequently asked
How many RAY is 1 LINK?
1 LINK is worth 7.73223 RAY at the latest exchange quotes. The figure is the ratio of the two USDT prices and updates every minute.
What is the LINK/RAY range?
Over the last 350 daily candles the ratio traded between 6.67011 (12.09.2026) and 16.5231 (19.08.2026).
Are LINK and RAY correlated?
The correlation of daily log returns between LINK and RAY is 0.78, 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 LINK/RAY spread z-score now?
The z-score is -2.14 — 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 LINK/RAY suitable for a pair trade?
The mechanics hold up: correlation is 0.78 and the spread historically covers half the way back to its mean in about 28 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.