If you want the fraction exactly in between, take the average between both of them. That is, add the two fractions together, then divide the result by 2.
An equivalent fraction for four eights is two fourths.
1.125 1 1/8
5/8
Three fourths plus one eight is 1 whole
4/3 or 1 and 1/3
Six eights is 48 = 48/1
1 and 5/8
2 eighths simplifies to 1 over 4 while 2 and 3 fourths expressed as an improper fraction is 11 over 4 therefore no, very much so.
A fraction between one half (1/2) and one fourth (1/4) is three eights (3/8).
1/4, 3/10, 1/3
1 1/8, 9/8, 1.125
-9/8 or -1 and 1/8