ONDO / PENGU ratio and spread
1 ONDO = 49.94 PENGU. Below is the price ratio chart and the regression spread z-score. Hedge ratio β is 0.712 and the correlation between the legs is 0.74.
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Key numbers
over 359 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 closely together — correlation of daily log returns is 0.74. The fitted hedge ratio is 0.71, meaning roughly 0.71 units of PENGU exposure balance one unit of ONDO.
The spread is at 0.63 standard deviations from its rolling mean, which is effectively at its own norm.
Reversion is slow: the spread needs roughly 40 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 — 56% of the way from the low to the high of the last 359 daily candles.
Frequently asked
How many PENGU is 1 ONDO?
1 ONDO is worth 49.9375 PENGU at the latest exchange quotes. The figure is the ratio of the two USDT prices and updates every minute.
What is the ONDO/PENGU range?
Over the last 359 daily candles the ratio traded between 25.2217 (28.04.2026) and 69.2731 (30.07.2026).
Are ONDO and PENGU correlated?
The correlation of daily log returns between ONDO and PENGU is 0.74, which counts as a strong 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 ONDO/PENGU spread z-score now?
The z-score is 0.63 — the spread is within its usual range. It measures how far the regression residual log(A) − β·log(B) sits from its rolling mean, in standard deviations.
Is ONDO/PENGU suitable for a pair trade?
The mechanics hold up: correlation is 0.74 and the spread historically covers half the way back to its mean in about 40 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.