RAY / U ratio and spread
1 RAY = 1.485 U. Below is the price ratio chart and the regression spread z-score. Hedge ratio β is -159.760 and the correlation between the legs is -0.10.
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Key numbers
over 244 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 RAY and U 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 3.34 standard deviations above its rolling mean — RAY is expensive relative to U by the standards of this window.
Historically the spread covers half the way back to its mean in about 19 days, so a divergence here tends to resolve within weeks rather than months.
The current ratio sits mid-range — 75% of the way from the low to the high of the last 244 daily candles.
Frequently asked
How many U is 1 RAY?
1 RAY is worth 1.48535 U at the latest exchange quotes. The figure is the ratio of the two USDT prices and updates every minute.
What is the RAY/U range?
Over the last 244 daily candles the ratio traded between 0.573598 (29.03.2026) and 1.79018 (11.09.2026).
Are RAY and U correlated?
The correlation of daily log returns between RAY and U 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 RAY/U spread z-score now?
The z-score is 3.34 — 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 RAY/U 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.