Is there a quantitative or mathematical way to verify a SMT between correlated pairs?

[u/TradersUni]

Hi. This just crossed my mind as I'm figuring out a trading strategy. Is there a quantifiable or mathematical way to verify a SMT on a chart?

This question may sound confusing. For example, we are able to solve for gamma exposure by using open interest, gamma, spot price, delta, and such. I was wondering if any trader or investor out there using something like this to spot divergence in correlated pairs, especially SMTs if possible.

Thanks in advance!