PENGU / ONDO ratio and spread
1 PENGU = 0.0195257 ONDO. Below is the price ratio chart and the regression spread z-score. Hedge ratio β is 1.061 and the correlation between the legs is 0.74.
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Key numbers
over 359 daily candles
How each of these is computed: regression spread, hedge ratio, spread z-score, half-life, correlation.
What the numbers say
The legs move closely together — correlation of daily log returns is 0.74. The fitted hedge ratio is 1.06, meaning roughly 1.06 units of ONDO exposure balance one unit of PENGU.
The spread is at -0.11 standard deviations from its rolling mean, which is effectively at its own norm.
Reversion is slow: the spread needs roughly 38 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 — 20% of the way from the low to the high of the last 359 daily candles.
Frequently asked
How many ONDO is 1 PENGU?
1 PENGU is worth 0.0195257 ONDO at the latest exchange quotes. The figure is the ratio of the two USDT prices and updates every minute.
What is the PENGU/ONDO range?
Over the last 359 daily candles the ratio traded between 0.0144356 (30.07.2026) and 0.0396485 (28.04.2026).
Are PENGU and ONDO correlated?
The correlation of daily log returns between PENGU and ONDO is 0.74, which counts as a strong 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/ONDO spread z-score now?
The z-score is -0.11 — 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 PENGU/ONDO suitable for a pair trade?
The mechanics hold up: correlation is 0.74 and the spread historically covers half the way back to its mean in about 38 days. That is a description of past behaviour, not a forecast or a recommendation.
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.