Correlation: 0.79 · Cointegrated: yes
Z-score: 2.05 entry / 0.65 rolling
Half-life 0.8h · Hurst 0.85 · Hedge ratio 1.30
Pair volatility: 29.21%
Backtest: 63.64% win · Sharpe 1.72 · 1.16% return · 0.95% max drawdown
Pair Analysis: Long TURBO / Short PNUT
- Roll Z-Score (1h): 1.64 (PNUT is rich relative to TURBO)
- Roll Z-Score (1d): 1.87
- Correlation: 0.79 (1h)
- Hedge Ratio (4h): 1.323 (Sizing: 56.9% TURBO / 43.1% PNUT)
- Status: Both assets are tradeable on Hyperliquid (Core).
Remark:
This setup is currently aligned with the quant-optimal direction (Long TURBO / Short PNUT). The elevated 1h and 1d Z-scores indicate that PNUT is statistically rich relative to TURBO, suggesting a mean-reversion opportunity where PNUT underperforms TURBO. Sentiment for both assets is currently bearish, which is typical for meme-coin pairs; however, the relative value signal (Z-score) is the primary driver here, favoring the short-PNUT/long-TURBO leg structure as a play on PNUT's relative overextension.
TURBO
PNUT