PAXG / UNI ratio and spread
1 PAXG = 559.27 UNI. Below is the price ratio chart and the regression spread z-score. Hedge ratio β is -0.214 and the correlation between the legs is 0.10.
If you hold PAXG · If you hold UNI
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Key numbers
over 2235 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 UNI moved in opposite directions. A pair trade assumes the legs move together, so this combination does not qualify as one.
The spread is at 0.17 standard deviations from its rolling mean, which is effectively at its own norm.
Reversion is slow: the spread needs roughly 561 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 — 30% of the way from the low to the high of the last 2235 daily candles.
When this happened before
Divergences over 2056 candles: 14. Closed by a return to the norm: 14. The median return took 55 days, the longest one 225 days.
The last closed one ran from 06.09.2026 to 23.10.2026, 47 days: peak z = 2.59, PAXG was expensive against UNI.
For a holder this answers not “what to do” but “how long it usually took”: the median return is 55 days. That is no guarantee — past divergences closed, this one may not.
| Period | Expensive leg | Peak z | Return |
|---|---|---|---|
| 06.09.2026 — 23.10.2026 | PAXG | 2.59 | 47 d |
| 02.06.2026 — 05.08.2026 | UNI | -3.39 | 64 d |
| 28.02.2026 — 18.03.2026 | PAXG | 2.32 | 18 d |
| 10.11.2025 — 05.02.2026 | PAXG | 3.70 | 87 d |
| 26.05.2025 — 03.11.2025 | PAXG | 3.23 | 161 d |
A divergence here is the spread z-score leaving ±2σ; the return is the first value back inside ±0.5σ. Two thresholds rather than one: otherwise chatter right at the border would count as a dozen separate divergences. The first bars of the window are skipped — there z is computed on partial history.
Frequently asked
How many UNI is 1 PAXG?
1 PAXG is worth 559.271 UNI at the latest exchange quotes. The figure is the ratio of the two USDT prices and updates every minute.
What is the PAXG/UNI range?
Over the last 2235 daily candles the ratio traded between 40.1557 (05.05.2021) and 1742.34 (06.06.2026).
Are PAXG and UNI correlated?
The correlation of daily log returns between PAXG and UNI is 0.10, 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/UNI spread z-score now?
The z-score is 0.17 — 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 PAXG/UNI 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.
How often do PAXG and UNI diverge?
Over 2056 daily candles the spread left ±2σ 14 times. The median return to the norm took 55 days.
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.