MAGIC / ERA ratio and spread
1 MAGIC = 1.256 ERA. Below is the price ratio chart and the regression spread z-score. Hedge ratio β is 0.670 and the correlation between the legs is 0.47.
If you hold MAGIC · If you hold ERA
MAGIC has been more expensive against ERA than now only 0 % of the time over 1.0 years. If you hold MAGIC, this is worth a look at rotating into ERA.
Sign in to keep favourite pairs.
Alerts
Sign in to set your own alerts.
Key numbers
over 377 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 0.47, with a hedge ratio of 0.67. Signals from this pair carry more noise than on a tightly linked one.
The spread currently sits at 6.43 standard deviations above its rolling mean — MAGIC is expensive relative to ERA by the standards of this window.
The spread has not shown mean reversion over the sample: estimates longer than the available history are discarded rather than reported. Trading this pair on reversion has no statistical footing here.
The current ratio sits in the upper part of its range — 100% of the way from the low to the high of the last 377 daily candles.
Frequently asked
How many ERA is 1 MAGIC?
1 MAGIC is worth 1.25562 ERA at the latest exchange quotes. The figure is the ratio of the two USDT prices and updates every minute.
What is the MAGIC/ERA range?
Over the last 377 daily candles the ratio traded between 0.167211 (11.10.2025) and 1.25562 (10.10.2026).
Are MAGIC and ERA correlated?
The correlation of daily log returns between MAGIC and ERA is 0.47, 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 MAGIC/ERA spread z-score now?
The z-score is 6.43 — 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 MAGIC/ERA suitable for a pair trade?
Not on a reversion thesis. The spread has not returned to its mean within the available history, so there is nothing to trade back to.
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.