Anvil vs Hyperliquid

Hyperliquid (HYPE) is 116.9× the size of Anvil (ANVL) by market capitalisation. Over the past 30 days, ANVL is ahead by 188.2 percentage points (ANVL +182.2% against HYPE -6.0%). Their daily returns move barely in opposite directions (correlation -0.23 across 52 shared trading days). ANVL has been the more volatile of the two, at 243% annualised against HYPE's 82%.

Correlation: -0.23
Size ratio: 1 : 116.9
Ahead over 30 days: ANVL

AnvilANVL

$0.001961

24h: -1.17%
Market cap: $172.68M
Volume 24h: $33,724
Volatility (ann.): 243%

HyperliquidHYPE

$84.3200

24h: -2.14%
Market cap: $20.19B
Volume 24h: $1.37B
Volatility (ann.): 82%

ANVL 0.8%Share of the two combined market caps99.2% HYPE

Performance

ANVLHYPE

7 days+10.64%+4.65%ANVL
30 days+182.19%-6.04%ANVL

Correlation

-0.23over 52 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.2190d: 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	ANVL	HYPE
Max drawdown (400d)	-28.9%	-18.9%
Risk-adjusted return (90d)	0.46	0.58

Relative strength over 90 days: ANVL outperformed HYPE by 73.6% — measured on the ANVL/HYPE ratio, so it holds regardless of market direction.

Anvil →Hyperliquid →