ZAMA / PENGU ratio and spread
1 ZAMA = 10.87 PENGU. Below is the price ratio chart and the regression spread z-score. Hedge ratio β is 0.112 and the correlation between the legs is 0.30.
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Key numbers
over 233 daily candles
How each of these is computed: regression spread, hedge ratio, spread z-score, half-life, correlation.
What the numbers say
The legs barely move together: correlation of daily log returns is only 0.30. A spread built on such a weak link reverts by coincidence rather than by mechanism.
The spread currently sits at 3.14 standard deviations above its rolling mean — ZAMA is expensive relative to PENGU by the standards of this window.
The spread has not shown mean reversion over the sample: estimates longer than the available history are discarded rather than reported. Trading this pair on reversion has no statistical footing here.
The current ratio sits in the upper part of its range — 99% of the way from the low to the high of the last 233 daily candles.
Frequently asked
How many PENGU is 1 ZAMA?
1 ZAMA is worth 10.872 PENGU at the latest exchange quotes. The figure is the ratio of the two USDT prices and updates every minute.
What is the ZAMA/PENGU range?
Over the last 233 daily candles the ratio traded between 2.51896 (05.05.2026) and 10.9286 (29.07.2026).
Are ZAMA and PENGU correlated?
The correlation of daily log returns between ZAMA and PENGU is 0.30, which counts as a weak 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 ZAMA/PENGU spread z-score now?
The z-score is 3.14 — 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 ZAMA/PENGU suitable for a pair trade?
Not on a reversion thesis. The spread has not returned to its mean within the available history, so there is nothing to trade back to.
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.