Ajna Protocol vs Hyperliquid

Hyperliquid (HYPE) is 25038.3× the size of Ajna Protocol (AJNA) by market capitalisation. Over the past 30 days, HYPE is ahead by 48.5 percentage points (AJNA -54.6% against HYPE -6.0%). Their daily returns move barely in opposite directions (correlation -0.08 across 30 shared trading days). AJNA has been the more volatile of the two, at 324% annualised against HYPE's 82%.

Correlation: -0.08
Size ratio: 1 : 25038.3
Ahead over 30 days: HYPE

Ajna ProtocolAJNA

$0.001022

24h: -1.13%
Market cap: $807,824
Volume 24h: $17
Volatility (ann.): 324%

HyperliquidHYPE

$85.3000

24h: -1.47%
Market cap: $20.23B
Volume 24h: $1.27B
Volatility (ann.): 82%

AJNA 0.0%Share of the two combined market caps100.0% HYPE

Performance

AJNAHYPE

7 days-49.06%+4.65%HYPE
30 days-54.57%-6.04%HYPE

Correlation

-0.08over 30 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0890d: 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	AJNA	HYPE
Max drawdown (400d)	-75.9%	-18.9%
Risk-adjusted return (90d)	-0.19	0.58

Relative strength over 90 days: HYPE outperformed AJNA by 61.5% — measured on the AJNA/HYPE ratio, so it holds regardless of market direction.

Ajna Protocol →Hyperliquid →