Among all the Week 4 college football games, two of them match two teams that are both ranked in The Associated Press Top 25 poll. And both of those games are Pac-12 Conference matchups: No. 9 UCLA at No. 16 Arizona, and No. 18 Utah at No. 13 Oregon.

The Pac-12 has four undefeated teams remaining this season (Arizona, California, UCLA, Utah), the fewest among the Power 5 conferences. Including Saturday’s UCLA-Arizona matchup, all four of the currently undefeated teams are scheduled to play one another at some point this season, with one exception: Arizona and California. The Wildcats and Golden Bears could play, however, in the Pac-12 championship game.

Is the Pac-12's place on this list a sign of parity in a rigorous conference or proof of a mediocre conference? ESPN Stats & Information

Will the Pac-12 produce a playoff team?

According to ESPN’s Football Power Index (FPI), there is an 84 percent chance that the Pac-12 champion will have two losses and a 46 percent chance that the champion will have three. Both numbers are the highest of any Power 5 conference. There have been two national champions with two or more losses: 1960 Minnesota and 2007 LSU.

In assessing the Pac-12’s chances to land a team in the College Football Playoff, one potential hurdle for the conference is that there are 10 teams from other Power 5 conferences more likely to finish the season as a conference champion with zero or one loss than the highest Pac-12 team. Those 10 teams don’t include Notre Dame, which has a 38 percent chance of entering the bowls with such a record.

Five of the Pac-12’s top six teams based on their preseason FPI rating have fallen in the rankings, including Arizona State, which has fallen 21 spots since the preseason and is 43rd.

What’s it mean?

Does the likelihood of having a two-loss Pac-12 champion mean the conference has unparalleled parity, or that it is flooded with good but not great teams?

Based on ESPN Stats & Information’s conference power rankings, which measures the depth of a conference and its strength at the top, the Pac-12 ranks third, behind the SEC and the Big 12.

Looking at ESPN’s preseason strength-of-schedule rankings, the SEC had the three toughest schedules and five of the top 10 toughest. The Pac-12 had two in the top 10, led by No. 4 USC, whereas the Big 12 had three.

Pac-12 undefeated teams are endangered

With either UCLA or Arizona getting a loss Saturday, the Pac-12 will have no more than three undefeated teams after Week 4. In fact, based on FPI projections, it appears likely there will be even fewer than three undefeated Pac-12 teams after this week.

Utah is 80 percent likely to lose at Oregon, according to FPI projections, and California is 63 percent likely to lose to Washington.