DeFi Pulse Index vs Hyperliquid

Hyperliquid (HYPE) is 3830.0× the size of DeFi Pulse Index (DPI) by market capitalisation. Over the past 30 days, DPI is ahead by 4.4 percentage points (DPI -1.7% against HYPE -6.0%). Their daily returns move loosely together (correlation 0.50 across 32 shared trading days). DPI has been the more volatile of the two, at 110% annualised against HYPE's 82%.

Correlation: 0.50
Size ratio: 1 : 3830.0
Ahead over 30 days: DPI

DeFi Pulse IndexDPI

$57.9800

24h: +13.22%
Market cap: $5.37M
Volume 24h: $42,641
Volatility (ann.): 110%

HyperliquidHYPE

$87.2600

24h: -0.73%
Market cap: $20.58B
Volume 24h: $1.32B
Volatility (ann.): 82%

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

Performance

DPIHYPE

7 days-3.44%+4.65%HYPE
30 days-1.67%-6.04%DPI

Correlation

0.50over 32 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.5190d: 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	DPI	HYPE
Max drawdown (400d)	-26.7%	-18.9%
Risk-adjusted return (90d)	0.05	0.58

Relative strength over 90 days: DPI outperformed HYPE by 2.9% — measured on the DPI/HYPE ratio, so it holds regardless of market direction.

DeFi Pulse Index →Hyperliquid →