W / PENGU ratio and spread
1 W = 1.528 PENGU. Below is the price ratio chart and the regression spread z-score. Hedge ratio β is 1.603 and the correlation between the legs is 0.70.
If you hold W · If you hold PENGU
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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 closely together — correlation of daily log returns is 0.70. The fitted hedge ratio is 1.60, meaning roughly 1.60 units of PENGU exposure balance one unit of W.
The spread is at -1.07 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 55 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 17% of the way from the low to the high of the last 364 daily candles.
Frequently asked
How many PENGU is 1 W?
1 W is worth 1.52829 PENGU at the latest exchange quotes. The figure is the ratio of the two USDT prices and updates every minute.
What is the W/PENGU range?
Over the last 364 daily candles the ratio traded between 0.939686 (25.08.2026) and 4.46638 (22.11.2025).
Are W and PENGU correlated?
The correlation of daily log returns between W and PENGU is 0.70, which counts as a strong 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/PENGU spread z-score now?
The z-score is -1.07 — 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/PENGU suitable for a pair trade?
The mechanics hold up: correlation is 0.70 and the spread historically covers half the way back to its mean in about 55 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.