BabySwap vs Hyperliquid

Hyperliquid (HYPE) is 111120.4× the size of BabySwap (BABY) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.25 across 35 shared trading days). BABY has been the more volatile of the two, at 274% annualised against HYPE's 81%.

Correlation: -0.25
Size ratio: 1 : 111120.4

BabySwapBABY

$0.000207

24h: +2.79%
Market cap: $176,099
Volume 24h: $736
Volatility (ann.): 274%

HyperliquidHYPE

$82.0000

24h: -3.35%
Market cap: $19.57B
Volume 24h: $1.23B
Volatility (ann.): 81%

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

Performance

BABYHYPE

7 days-7.67%+3.87%HYPE
30 days-5.09%-11.01%BABY
90 days—+45.28%—

Correlation

-0.25over 35 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.2690d: 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	BABY	HYPE
Max drawdown (400d)	-58.2%	-18.9%
Risk-adjusted return (90d)	-0.01	0.56

Relative strength over 90 days: BABY outperformed HYPE by 0.7% — measured on the BABY/HYPE ratio, so it holds regardless of market direction.

BabySwap →Hyperliquid →