NEAR / ERA ratio and spread
1 NEAR = 62.67 ERA. Below is the price ratio chart and the regression spread z-score. Hedge ratio β is -0.074 and the correlation between the legs is 0.42.
If you hold NEAR · If you hold ERA
NEAR has been more expensive against ERA than now only 2 % of the time over 1.0 years. If you hold NEAR, this is worth a look at rotating into ERA.
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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 fitted hedge ratio is negative: over the window NEAR and ERA moved in opposite directions. A pair trade assumes the legs move together, so this combination does not qualify as one.
The spread currently sits at 2.41 standard deviations above its rolling mean — NEAR is expensive relative to ERA by the standards of this window.
Reversion is slow: the spread needs roughly 102 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 — 72% of the way from the low to the high of the last 377 daily candles.
Frequently asked
How many ERA is 1 NEAR?
1 NEAR is worth 62.6667 ERA at the latest exchange quotes. The figure is the ratio of the two USDT prices and updates every minute.
What is the NEAR/ERA range?
Over the last 377 daily candles the ratio traded between 3.35867 (12.10.2025) and 85.6501 (08.10.2026).
Are NEAR and ERA correlated?
The correlation of daily log returns between NEAR and ERA is 0.42, 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 NEAR/ERA spread z-score now?
The z-score is 2.41 — 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 NEAR/ERA suitable for a pair trade?
No. The fitted hedge ratio is negative, meaning the legs moved in opposite directions over the window — the market-neutral construction that pair trading relies on does not hold here.
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.