OGN / INJ ratio and spread
1 OGN = 0.0046665 INJ. Below is the price ratio chart and the regression spread z-score. Hedge ratio β is 0.174 and the correlation between the legs is 0.47.
If you hold OGN · If you hold INJ
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Key numbers
over 2181 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 0.17. Signals from this pair carry more noise than on a tightly linked one.
The spread currently sits at 2.79 standard deviations above its rolling mean — OGN is expensive relative to INJ by the standards of this window.
Reversion is slow: the spread needs roughly 527 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 near the bottom of its range — only 1% of the way from the low to the high of the last 2181 daily candles.
Frequently asked
How many INJ is 1 OGN?
1 OGN is worth 0.00466649 INJ at the latest exchange quotes. The figure is the ratio of the two USDT prices and updates every minute.
What is the OGN/INJ range?
Over the last 2181 daily candles the ratio traded between 0.00243116 (24.09.2026) and 0.304936 (04.07.2022).
Are OGN and INJ correlated?
The correlation of daily log returns between OGN and INJ 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 OGN/INJ spread z-score now?
The z-score is 2.79 — 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 OGN/INJ suitable for a pair trade?
The mechanics hold up: correlation is 0.47 and the spread historically covers half the way back to its mean in about 527 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.