Correlation: 0.64 · Cointegrated: yes
Z-score: -2.10 entry / -0.25 rolling
Half-life 3.2h · Hurst 0.91 · Hedge ratio 1.51
Pair volatility: 43.25%
Backtest: 85.00% win · Sharpe 3.10 · 3.07% return · 1.47% max drawdown
Pair Analysis: Long DYM / Short SAGA
- Roll Z-Score: -1.42 (1h) | -1.93 (4h) | -1.50 (1d)
- Correlation: 0.64 (1h)
- Hedge Ratio: 0.77 (4h)
- Status: Both assets are tradeable on Hyperliquid (Core).
Remark:
This is a "two-legged bear" trade. The negative z-scores across all timeframes indicate the DYM/SAGA spread is currently "cheap" (DYM is historically weak relative to SAGA), supporting a mean-reversion play of Long DYM / Short SAGA. However, sentiment is broadly bearish for both: DYM faces significant sell pressure from continuous linear vesting through 2027, while SAGA is struggling with post-exploit confidence and pivot uncertainty. You are essentially betting on relative strength—that SAGA will bleed faster than DYM—rather than an absolute bullish thesis for either asset.
DYM
SAGA