W / ETH ratio and spread
1 W = 5.8E-6 ETH. Below is the price ratio chart and the regression spread z-score. Hedge ratio β is 2.482 and the correlation between the legs is 0.69.
If you hold W · If you hold ETH
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Key numbers
over 364 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 0.69, with a hedge ratio of 2.48. Signals from this pair carry more noise than on a tightly linked one.
The spread is at -1.31 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 61 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 8% of the way from the low to the high of the last 364 daily candles.
Frequently asked
How many ETH is 1 W?
1 W is worth 0.000005799453555981 ETH at the latest exchange quotes. The figure is the ratio of the two USDT prices and updates every minute.
What is the W/ETH range?
Over the last 364 daily candles the ratio traded between 0.000003745206007756 (19.08.2026) and 0.000030914826498423 (07.10.2025).
Are W and ETH correlated?
The correlation of daily log returns between W and ETH is 0.69, 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 W/ETH spread z-score now?
The z-score is -1.31 — 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 W/ETH suitable for a pair trade?
The mechanics hold up: correlation is 0.69 and the spread historically covers half the way back to its mean in about 61 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.