Definitive vs Hyperliquid

Hyperliquid (HYPE) is 990.8× the size of Definitive (EDGE) by market capitalisation. Over the past 30 days, HYPE is ahead by 35.9 percentage points (EDGE -41.9% against HYPE -6.0%). Their daily returns move barely together (correlation 0.21 across 39 shared trading days). EDGE has been the more volatile of the two, at 119% annualised against HYPE's 82%.

Correlation: 0.21
Size ratio: 1 : 990.8
Ahead over 30 days: HYPE

DefinitiveEDGE

$0.074682

24h: -0.58%
Market cap: $20.45M
Volume 24h: $1.19M
Volatility (ann.): 119%

HyperliquidHYPE

$84.6400

24h: -1.82%
Market cap: $20.26B
Volume 24h: $1.41B
Volatility (ann.): 82%

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

Performance

EDGEHYPE

7 days-10.48%+4.65%HYPE
30 days-41.92%-6.04%HYPE

Correlation

0.21over 39 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.1390d: 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	EDGE	HYPE
Max drawdown (400d)	-48.4%	-18.9%
Risk-adjusted return (90d)	-0.40	0.58

Relative strength over 90 days: HYPE outperformed EDGE by 43.5% — measured on the EDGE/HYPE ratio, so it holds regardless of market direction.

Definitive →Hyperliquid →