PAXG / NMR ratio and spread
1 PAXG = 280.7 NMR. Below is the price ratio chart and the regression spread z-score. Hedge ratio β is -0.403 and the correlation between the legs is 0.05.
If you hold PAXG · If you hold NMR
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Key numbers
over 2232 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 PAXG and NMR 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 3.40 standard deviations above its rolling mean — PAXG is expensive relative to NMR by the standards of this window.
Reversion is slow: the spread needs roughly 136 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 — 38% of the way from the low to the high of the last 2232 daily candles.
Frequently asked
How many NMR is 1 PAXG?
1 PAXG is worth 280.696 NMR at the latest exchange quotes. The figure is the ratio of the two USDT prices and updates every minute.
What is the PAXG/NMR range?
Over the last 2232 daily candles the ratio traded between 19.4608 (17.04.2021) and 710.66 (28.02.2026).
Are PAXG and NMR correlated?
The correlation of daily log returns between PAXG and NMR is 0.05, 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 PAXG/NMR spread z-score now?
The z-score is 3.40 — 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 PAXG/NMR 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.