Zebec Network vs Spiko Amundi Overnight Swap Fund (EUR)

Spiko Amundi Overnight Swap Fund (EUR) (EURSAFO) is 9.5× the size of Zebec Network (ZBCN) by market capitalisation. Over the past 30 days, ZBCN is ahead by 12.9 percentage points (ZBCN +10.3% against EURSAFO -2.6%). Their daily returns move barely in opposite directions (correlation -0.30 across 57 shared trading days). ZBCN has been the more volatile of the two, at 105% annualised against EURSAFO's 9%.

Correlation: -0.30
Size ratio: 1 : 9.5
Ahead over 30 days: ZBCN

Zebec NetworkZBCN

$0.001969

24h: +0.58%
Market cap: $196.91M
Volume 24h: $8.40M
Volatility (ann.): 105%

Spiko Amundi Overnight Swap Fund (EUR)EURSAFO

$1.1400

24h: +0.30%
Market cap: $1.88B
Volume 24h: —
Volatility (ann.): 9%

ZBCN 9.5%Share of the two combined market caps90.5% EURSAFO

Performance

ZBCNEURSAFO

7 days-5.37%+0.88%EURSAFO
30 days+10.31%-2.56%ZBCN

Correlation

-0.30over 57 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.7090d: insufficient data1y: insufficient data

Measured on daily returns rather than on prices. Two assets that both simply trend upward score near 1.0 on raw prices whether or not they move together, so returns are what answer the question people mean by correlation.

Risk & extremes

Metric	ZBCN	EURSAFO
Max drawdown (400d)	-20.8%	-4.2%
Risk-adjusted return (90d)	0.24	-0.27

Relative strength over 90 days: ZBCN outperformed EURSAFO by 28.1% — measured on the ZBCN/EURSAFO ratio, so it holds regardless of market direction.

Zebec Network →Spiko Amundi Overnight Swap Fund (EUR) →