DeFi Kingdoms vs Hyperliquid

DeFi Kingdoms (JEWEL) and Hyperliquid (HYPE) compared side by side. Their daily returns move barely together (correlation 0.21 across 30 shared trading days). JEWEL has been the more volatile of the two, at 130% annualised against HYPE's 81%.

Correlation: 0.21

DeFi KingdomsJEWEL

$0.004359

24h: -0.83%
Market cap: —
Volume 24h: $348
Volatility (ann.): 130%

HyperliquidHYPE

$83.8900

24h: +1.04%
Market cap: $20.12B
Volume 24h: $1.44B
Volatility (ann.): 81%

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

Performance

JEWELHYPE

7 days+9.89%+3.87%JEWEL
30 days+0.95%-11.01%JEWEL
90 days—+45.28%—

Correlation

0.21over 30 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.2190d: 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	JEWEL	HYPE
Max drawdown (400d)	-25.6%	-18.9%
Risk-adjusted return (90d)	0.01	0.56

Relative strength over 90 days: JEWEL outperformed HYPE by 5.6% — measured on the JEWEL/HYPE ratio, so it holds regardless of market direction.

DeFi Kingdoms →Hyperliquid →