Hennessey Performance put the two head-to-head to find out.
The motor is a monster of a thing: a 6.2-litre, supercharged V8 thumping out 650 horsepower and 650 pound-feet of torque.
The official figures say the ZL1 can sprint from 0-60 miles per hour (0-96 kilometres per hour) in just 3.5 seconds, while the Z06 reaches the marker in a miniscule 2.95 seconds.
You might expect the lighter, sleeker Z06 to whup the huge and heavy ZL1. From a low-speed, second-gear rolling start, though, they are remarkably closely matched.
But how do the two match up the in real world? Hennessey Performance just so happened to have one of each lying around the workshop, so they took them down to the Lone Star Motorsports Park for a head-to-contest.
You might expect the lighter, sleeker Z06 to whup the huge and heavy ZL1. From a low-speed, second-gear rolling start, though, they are remarkably closely matched. The ‘Vette pulls out a slight advantage, but never more than half a length. Throw some corners in and the margins are bigger.
The ZL1 lapped the Nurburgring in a still-astonishing seven minutes 29.6 seconds, a whole four seconds quicker than the Koenigsegg CCX and a crucial 2.59 seconds better than the Shelby GT350R. The Z06, by contrast, got round the Nordschleife - allegedly - in seven minutes 8 seconds, fast enough to rank among the fastest road cars that ever taken to the Green Hell.
Even on a circuit as long as the 'Ring, 21 seconds is a gaping chasm that shows up the difference between what is essentially a hotrod sedan, and a purpose-built, track-focused supercar.
On a longer stretch of asphalt than Hennessey had access to, the Corvette would have pulled ahead, but probably not until speeds reached deep into three-figure territory. From a standing start, the 'Vette would probably win easily, as well.
Still, let's not take anything away from the Camaro, which is clearly the fastest muscle car on the planet. Indeed, one of the fastest three-box-bodied cars of any sort on the planet.