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1.55E-5 PAXG

THE = 0.0669 USDT

PAXG = 4307.23 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 / PAXG ratio and spread

1 THE = 1.55E-5 PAXG. Below is the price ratio chart and the regression spread z-score. Hedge ratio β is 2.255 and the correlation between the legs is 0.15.

Set an alert on this pair The spread z-score is 0.87 right now. Get a message when it reaches your level — instead of watching the chart.

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Hedge ratio β 2.255

Spread z-score 0.87

Correlation 0.15

Half-life 46.4 1d

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

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Key numbers

Current ratio0.000015532024061868

Change 1d1.43%

Change 7d-10.96%

Change 30d8.25%

Period high0.000131313

Period low0.000012253829321663

Hedge ratio β2.255

Spread z-score0.87

Correlation0.15

Half-life46 d

over 352 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 0.15. A spread built on such a weak link reverts by coincidence rather than by mechanism.

The spread is at 0.87 standard deviations from its rolling mean, which is effectively at its own norm.

Reversion is slow: the spread needs roughly 46 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 3% of the way from the low to the high of the last 352 daily candles.

Frequently asked

How many PAXG is 1 THE?

1 THE is worth 0.000015532024061868 PAXG at the latest exchange quotes. The figure is the ratio of the two USDT prices and updates every minute.

What is the THE/PAXG range?

Over the last 352 daily candles the ratio traded between 0.000012253829321663 (30.07.2026) and 0.000131313 (29.09.2025).

Are THE and PAXG correlated?

The correlation of daily log returns between THE and PAXG is 0.15, 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/PAXG spread z-score now?

The z-score is 0.87 — 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/PAXG suitable for a pair trade?

Weakly. Correlation is only 0.15, 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.