PEPE / AXS ratio and spread
1 PEPE = 3.0E-6 AXS. Below is the price ratio chart and the regression spread z-score. Hedge ratio β is 0.804 and the correlation between the legs is 0.54.
If you hold PEPE · If you hold AXS
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Key numbers
over 371 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 together only moderately — correlation of daily log returns is 0.54, with a hedge ratio of 0.80. Signals from this pair carry more noise than on a tightly linked one.
The spread is at 0.91 standard deviations from its rolling mean, which is effectively at its own norm.
Historically the spread covers half the way back to its mean in about 28 days, so a divergence here tends to resolve within weeks rather than months.
The current ratio sits mid-range — 23% of the way from the low to the high of the last 371 daily candles.
Frequently asked
How many AXS is 1 PEPE?
1 PEPE is worth 0.000003022598870057 AXS at the latest exchange quotes. The figure is the ratio of the two USDT prices and updates every minute.
What is the PEPE/AXS range?
Over the last 371 daily candles the ratio traded between 0.000001711711711712 (24.01.2026) and 0.000007393075356415 (04.01.2026).
Are PEPE and AXS correlated?
The correlation of daily log returns between PEPE and AXS is 0.54, which counts as a moderate 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 PEPE/AXS spread z-score now?
The z-score is 0.91 — 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 PEPE/AXS suitable for a pair trade?
The mechanics hold up: correlation is 0.54 and the spread historically covers half the way back to its mean in about 28 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.