NEAR / SPYB ratio and spread
1 NEAR = 0.004793 SPYB. Below is the price ratio chart and the regression spread z-score. Hedge ratio β is -0.341 and the correlation between the legs is 0.22.
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Key numbers
over 74 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 SPYB 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 3.53 standard deviations above its rolling mean — NEAR is expensive relative to SPYB 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 74 daily candles.
Frequently asked
How many SPYB is 1 NEAR?
1 NEAR is worth 0.004793 SPYB at the latest exchange quotes. The figure is the ratio of the two USDT prices and updates every minute.
What is the NEAR/SPYB range?
Over the last 74 daily candles the ratio traded between 0.00209187 (11.08.2026) and 0.004793 (18.09.2026).
Are NEAR and SPYB correlated?
The correlation of daily log returns between NEAR and SPYB is 0.22, which counts as a weak 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/SPYB spread z-score now?
The z-score is 3.53 — 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/SPYB 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.