PENGU / NMR ratio and spread
1 PENGU = 0.0005771 NMR. Below is the price ratio chart and the regression spread z-score. Hedge ratio β is 1.699 and the correlation between the legs is 0.36.
If you hold PENGU · If you hold NMR
PENGU is cheaper against NMR than in 0 % of the time over 1.8 years. If you hold NMR, this is worth a look at rotating into PENGU.
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Key numbers
over 660 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 0.36. A spread built on such a weak link reverts by coincidence rather than by mechanism.
The spread currently sits at -3.93 standard deviations from its rolling mean — PENGU is cheap relative to NMR by the standards of this window.
Reversion is slow: the spread needs roughly 35 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 near the bottom of its range — only 1% of the way from the low to the high of the last 660 daily candles.
Frequently asked
How many NMR is 1 PENGU?
1 PENGU is worth 0.000577131 NMR at the latest exchange quotes. The figure is the ratio of the two USDT prices and updates every minute.
What is the PENGU/NMR range?
Over the last 660 daily candles the ratio traded between 0.000543233 (17.03.2025) and 0.00498481 (23.07.2025).
Are PENGU and NMR correlated?
The correlation of daily log returns between PENGU and NMR is 0.36, 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 PENGU/NMR spread z-score now?
The z-score is -3.93 — 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 PENGU/NMR suitable for a pair trade?
Weakly. Correlation is only 0.36, 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.