OP / OGN ratio and spread
1 OP = 3.924 OGN. Below is the price ratio chart and the regression spread z-score. Hedge ratio β is 1.560 and the correlation between the legs is 0.39.
If you hold OP · If you hold OGN
OP is cheaper against OGN than in 0 % of the time over 1.0 years. If you hold OGN, this is worth a look at rotating into OP.
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Key numbers
over 376 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 0.39. A spread built on such a weak link reverts by coincidence rather than by mechanism.
The spread currently sits at -5.37 standard deviations from its rolling mean — OP is cheap relative to OGN by the standards of this window.
Historically the spread covers half the way back to its mean in about 8 days, so a divergence here tends to resolve within weeks rather than months.
The current ratio sits near the bottom of its range — only 13% of the way from the low to the high of the last 376 daily candles.
Frequently asked
How many OGN is 1 OP?
1 OP is worth 3.92376 OGN at the latest exchange quotes. The figure is the ratio of the two USDT prices and updates every minute.
What is the OP/OGN range?
Over the last 376 daily candles the ratio traded between 2.58882 (09.10.2026) and 12.4833 (10.10.2025).
Are OP and OGN correlated?
The correlation of daily log returns between OP and OGN is 0.39, 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 OP/OGN spread z-score now?
The z-score is -5.37 — 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 OP/OGN suitable for a pair trade?
Weakly. Correlation is only 0.39, 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.