APEX vs Hyperliquid

Hyperliquid (HYPE) is 621.0× the size of APEX (APEX) by market capitalisation. Over the past 30 days, HYPE is ahead by 6.4 percentage points (APEX -12.4% against HYPE -6.0%). Their daily returns move loosely together (correlation 0.44 across 46 shared trading days). APEX has been the more volatile of the two, at 133% annualised against HYPE's 82%.

Correlation: 0.44
Size ratio: 1 : 621.0
Ahead over 30 days: HYPE

APEXAPEX

$0.210688

24h: +3.46%
Market cap: $33.27M
Volume 24h: $720,714
Volatility (ann.): 133%

HyperliquidHYPE

$86.0600

24h: +0.01%
Market cap: $20.66B
Volume 24h: $1.38B
Volatility (ann.): 82%

APEX 0.2%Share of the two combined market caps99.8% HYPE

Performance

APEXHYPE

7 days-9.49%+4.65%HYPE
30 days-12.42%-6.04%HYPE

Correlation

0.44over 46 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.4590d: 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	APEX	HYPE
Max drawdown (400d)	-32.7%	-18.9%
Risk-adjusted return (90d)	-0.11	0.58

Relative strength over 90 days: HYPE outperformed APEX by 20.4% — measured on the APEX/HYPE ratio, so it holds regardless of market direction.

APEX →Hyperliquid →