ORCA / PAXG ratio and spread

1 ORCA = 0.0006877 PAXG. Below is the price ratio chart and the regression spread z-score. Hedge ratio β is -2.009 and the correlation between the legs is 0.09.

Set an alert on this pair The spread z-score is 3.59 right now. Get a message when it reaches your level — instead of watching the chart.

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If you hold ORCA · If you hold PAXG

Hedge ratio β -2.009

Spread z-score 3.59

Percentile, 1.8 y 80

Correlation 0.09

Half-life 12.4 1d

link broke The spread is far from its mean, but ORCA and PAXG no longer move together. This is not a stretched spring — the link broke: there is nothing to revert to, and the pair cannot be traded as a pair.

Alerts

Key numbers

Current ratio0.000687689

Change 1d13.72%

Change 7d79.33%

Change 30d75.20%

Period high0.00484848

Period low0.000149225

Hedge ratio β-2.009

Spread z-score3.59

Correlation0.09

Half-life12 d

over 671 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 ORCA and PAXG 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 3.59 standard deviations above its rolling mean — ORCA is expensive relative to PAXG by the standards of this window.

Historically the spread covers half the way back to its mean in about 12 days, so a divergence here tends to resolve within weeks rather than months.

The current ratio sits near the bottom of its range — only 11% of the way from the low to the high of the last 671 daily candles.

Frequently asked

How many PAXG is 1 ORCA?

1 ORCA is worth 0.000687689 PAXG at the latest exchange quotes. The figure is the ratio of the two USDT prices and updates every minute.

What is the ORCA/PAXG range?

Over the last 671 daily candles the ratio traded between 0.000149225 (11.02.2026) and 0.00484848 (06.12.2024).

Are ORCA and PAXG correlated?

The correlation of daily log returns between ORCA and PAXG is 0.09, 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 ORCA/PAXG spread z-score now?

The z-score is 3.59 — 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 ORCA/PAXG 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.