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0.4787535 ENA

THE = 0.0676 USDT

ENA = 0.1412 USDT

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Derived series only: the ratio of the two legs and the spread z-score. Exchange candles are not included.

THE / ENA ratio and spread

1 THE = 0.4787535 ENA. Below is the price ratio chart and the regression spread z-score. Hedge ratio β is 0.742 and the correlation between the legs is 0.39.

Set an alert on this pair The spread z-score is -1.02 right now. Get a message when it reaches your level — instead of watching the chart.

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Hedge ratio β 0.742

Spread z-score -1.02

Correlation 0.39

Half-life 100.0 1d

The spread is within ±2σ — the pair is near its own norm.

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Key numbers

Current ratio0.478754

Change 1d-3.38%

Change 7d16.84%

Change 30d-31.93%

Period high5.39731

Period low0.382833

Hedge ratio β0.742

Spread z-score-1.02

Correlation0.39

Half-life100 d

over 350 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 0.39. A spread built on such a weak link reverts by coincidence rather than by mechanism.

The spread is at -1.02 standard deviations from its rolling mean: away from the norm, but not far enough to call it stretched.

Reversion is slow: the spread needs roughly 100 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 2% of the way from the low to the high of the last 350 daily candles.

Frequently asked

How many ENA is 1 THE?

1 THE is worth 0.478754 ENA at the latest exchange quotes. The figure is the ratio of the two USDT prices and updates every minute.

What is the THE/ENA range?

Over the last 350 daily candles the ratio traded between 0.382833 (28.08.2026) and 5.39731 (15.03.2026).

Are THE and ENA correlated?

The correlation of daily log returns between THE and ENA is 0.39, 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 THE/ENA spread z-score now?

The z-score is -1.02 — 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 THE/ENA suitable for a pair trade?

Weakly. Correlation is only 0.39, 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.