NMR / PENGU ratio and spread
1 NMR = 1725.11 PENGU. Below is the price ratio chart and the regression spread z-score. Hedge ratio β is 0.256 and the correlation between the legs is 0.36.
If you hold NMR · If you hold PENGU
NMR has been more expensive against PENGU than now only 0 % of the time over 1.8 years. If you hold NMR, this is worth a look at rotating into PENGU.
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Key numbers
over 660 daily candles
How each of these is computed: regression spread, hedge ratio, spread z-score, half-life, correlation.
What the numbers say
The legs barely move together: correlation of daily log returns is only 0.36. A spread built on such a weak link reverts by coincidence rather than by mechanism.
The spread currently sits at 5.78 standard deviations above its rolling mean — NMR is expensive relative to PENGU by the standards of this window.
Historically the spread covers half the way back to its mean in about 14 days, so a divergence here tends to resolve within weeks rather than months.
The current ratio sits in the upper part of its range — 93% of the way from the low to the high of the last 660 daily candles.
Frequently asked
How many PENGU is 1 NMR?
1 NMR is worth 1725.11 PENGU at the latest exchange quotes. The figure is the ratio of the two USDT prices and updates every minute.
What is the NMR/PENGU range?
Over the last 660 daily candles the ratio traded between 200.609 (23.07.2025) and 1840.83 (17.03.2025).
Are NMR and PENGU correlated?
The correlation of daily log returns between NMR and PENGU is 0.36, 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 NMR/PENGU spread z-score now?
The z-score is 5.78 — 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 NMR/PENGU suitable for a pair trade?
Weakly. Correlation is only 0.36, so the legs do not reliably move together and the spread carries mostly idiosyncratic noise.
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.