Ratio history · Sep 2019 to now
Seven years of the ratio, with lines that move
His lines stay at 1.40 and 1.28 forever. The ratio doesn't: in 2020 one ALGO bought anywhere from 3.5 to 24 HBAR, and by 2025 it bought about 1. Here the swap lines follow the ratio's normal level instead. That level is the median of the previous 90 daily closes, so the lines are redrawn every day.
Log scale, so a 10% move looks the same size in 2020 and today. Drag to scroll, use the scroll wheel or a pinch to zoom.
The dotted line is "normal"
Each day it's the median of the previous 90 daily closes. One wild day barely moves it. When the ratio moves to a new level, the median stays put until the new level has lasted about 45 days (half the window), then jumps.
Swaps happen at the edges
The purple line sits 4% (or 6%) above normal. The green line sits 2% below it (or 2% above). Arrows mark every swap the rule made on hourly prices, charging 0.2% per swap. Zoom to 1Y to read how much more ALGO each round trip came back with.
It breaks when the level jumps
Jump up: on 31 Mar 2026 the ratio rose 4% over its normal of 0.98, so the +4% rule swapped into HBAR at 1.02. Four days later the ratio was 1.40. The trip ended 58 days later with 13.5% fewer ALGO.
Drop: during Dec 2024 the ratio halved, from 2.3 to 1.2. The rule had just swapped back to ALGO at 2.32, so it lost nothing, but it then made no swaps until mid-April 2025.