SAND / API3 ratio and spread
1 SAND = 0.2270438 API3. Below is the price ratio chart and the regression spread z-score. Hedge ratio β is 1.140 and the correlation between the legs is 0.57.
If you hold SAND · If you hold API3
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Key numbers
over 1720 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 0.57, with a hedge ratio of 1.14. Signals from this pair carry more noise than on a tightly linked one.
The spread is at -0.65 standard deviations from its rolling mean, which is effectively at its own norm.
Reversion is slow: the spread needs roughly 76 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 11% of the way from the low to the high of the last 1720 daily candles.
Frequently asked
How many API3 is 1 SAND?
1 SAND is worth 0.227044 API3 at the latest exchange quotes. The figure is the ratio of the two USDT prices and updates every minute.
What is the SAND/API3 range?
Over the last 1720 daily candles the ratio traded between 0.100851 (15.02.2024) and 1.25246 (07.02.2022).
Are SAND and API3 correlated?
The correlation of daily log returns between SAND and API3 is 0.57, 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 SAND/API3 spread z-score now?
The z-score is -0.65 — 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 SAND/API3 suitable for a pair trade?
The mechanics hold up: correlation is 0.57 and the spread historically covers half the way back to its mean in about 76 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.