CELO / ZRO ratio and spread
1 CELO = 0.043242 ZRO. Below is the price ratio chart and the regression spread z-score. Hedge ratio β is 0.686 and the correlation between the legs is 0.46.
If you hold CELO · If you hold ZRO
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Key numbers
over 398 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 together only moderately — correlation of daily log returns is 0.46, with a hedge ratio of 0.69. Signals from this pair carry more noise than on a tightly linked one.
The spread currently sits at -2.63 standard deviations from its rolling mean — CELO is cheap relative to ZRO by the standards of this window.
Reversion is slow: the spread needs roughly 89 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 7% of the way from the low to the high of the last 398 daily candles.
When this happened before
Divergences over 219 candles: 1, and none of them has closed with a return to the norm yet.
One is running right now: it started on 08.10.2026, has lasted 23 days, peak z = -3.37, ZRO was expensive against CELO. It has not returned to the norm yet.
A divergence here is the spread z-score leaving ±2σ; the return is the first value back inside ±0.5σ. Two thresholds rather than one: otherwise chatter right at the border would count as a dozen separate divergences. The first bars of the window are skipped — there z is computed on partial history.
Frequently asked
How many ZRO is 1 CELO?
1 CELO is worth 0.043242 ZRO at the latest exchange quotes. The figure is the ratio of the two USDT prices and updates every minute.
What is the CELO/ZRO range?
Over the last 398 daily candles the ratio traded between 0.0320077 (11.02.2026) and 0.200642 (06.10.2025).
Are CELO and ZRO correlated?
The correlation of daily log returns between CELO and ZRO is 0.46, which counts as a moderate 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 CELO/ZRO spread z-score now?
The z-score is -2.63 — the spread is stretched beyond two standard deviations. It measures how far the regression residual log(A) − β·log(B) sits from its rolling mean, in standard deviations.
Is CELO/ZRO suitable for a pair trade?
The mechanics hold up: correlation is 0.46 and the spread historically covers half the way back to its mean in about 89 days. That is a description of past behaviour, not a forecast or a recommendation.
How often do CELO and ZRO diverge?
Over 219 daily candles the spread left ±2σ 1 times, and none of those divergences has closed with a return to the norm yet.
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.