Aquarius vs Hyperliquid

Hyperliquid (HYPE) is 1686.7× the size of Aquarius (AQUA) by market capitalisation. Over the past 30 days, AQUA is ahead by 10.2 percentage points (AQUA +4.1% against HYPE -6.0%). Their daily returns move very closely together (correlation 0.87 across 23 shared trading days). HYPE has been the more volatile of the two, at 82% annualised against AQUA's 63%.

Correlation: 0.87
Size ratio: 1 : 1686.7
Ahead over 30 days: AQUA

AquariusAQUA

$0.000268

24h: -1.35%
Market cap: $11.97M
Volume 24h: $172,242
Volatility (ann.): 63%

HyperliquidHYPE

$84.4000

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

AQUA 0.1%Share of the two combined market caps99.9% HYPE

Performance

AQUAHYPE

7 days-4.58%+4.65%HYPE
30 days+4.13%-6.04%AQUA

Correlation

0.87over 23 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: 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	AQUA	HYPE
Max drawdown (400d)	-8.6%	-18.9%
Risk-adjusted return (90d)	0.07	0.58

Relative strength over 90 days: HYPE outperformed AQUA by 1.4% — measured on the AQUA/HYPE ratio, so it holds regardless of market direction.

Aquarius →Hyperliquid →