Bone ShibaSwap vs Hyperliquid

Hyperliquid (HYPE) is 1578.4× the size of Bone ShibaSwap (BONE) by market capitalisation. Over the past 30 days, BONE is ahead by 13.4 percentage points (BONE +7.4% against HYPE -6.0%). Their daily returns move loosely together (correlation 0.43 across 33 shared trading days). HYPE has been the more volatile of the two, at 82% annualised against BONE's 58%.

Correlation: 0.43
Size ratio: 1 : 1578.4
Ahead over 30 days: BONE

Bone ShibaSwapBONE

$0.051285

24h: +0.43%
Market cap: $12.81M
Volume 24h: $2.28M
Volatility (ann.): 58%

HyperliquidHYPE

$85.3000

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

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

Performance

BONEHYPE

7 days-4.43%+4.65%HYPE
30 days+7.35%-6.04%BONE

Correlation

0.43over 33 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	BONE	HYPE
Max drawdown (400d)	-13.2%	-18.9%
Risk-adjusted return (90d)	0.10	0.58

Relative strength over 90 days: BONE outperformed HYPE by 3.2% — measured on the BONE/HYPE ratio, so it holds regardless of market direction.

Bone ShibaSwap →Hyperliquid →