Chainflip vs Hyperliquid

Hyperliquid (HYPE) is 748.6× the size of Chainflip (FLIP) by market capitalisation. Over the past 30 days, HYPE is ahead by 7.0 percentage points (FLIP -13.0% against HYPE -6.0%). Their daily returns move barely together (correlation 0.03 across 42 shared trading days). HYPE has been the more volatile of the two, at 82% annualised against FLIP's 62%.

Correlation: 0.03
Size ratio: 1 : 748.6
Ahead over 30 days: HYPE

ChainflipFLIP

$0.315795

24h: +4.67%
Market cap: $27.48M
Volume 24h: $195,248
Volatility (ann.): 62%

HyperliquidHYPE

$86.3200

24h: -1.76%
Market cap: $20.57B
Volume 24h: $1.32B
Volatility (ann.): 82%

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

Performance

FLIPHYPE

7 days+0.75%+4.65%HYPE
30 days-13.01%-6.04%HYPE

Correlation

0.03over 42 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.0390d: 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	FLIP	HYPE
Max drawdown (400d)	-33.9%	-18.9%
Risk-adjusted return (90d)	-0.33	0.58

Relative strength over 90 days: HYPE outperformed FLIP by 27.2% — measured on the FLIP/HYPE ratio, so it holds regardless of market direction.

Chainflip →Hyperliquid →