Delta vs Hyperliquid

Hyperliquid (HYPE) is 2532.7× the size of Delta (DELTA) by market capitalisation. Over the past 30 days, HYPE is ahead by 27.7 percentage points (DELTA -33.8% against HYPE -6.0%). Their daily returns move loosely together (correlation 0.54 across 27 shared trading days). DELTA has been the more volatile of the two, at 516% annualised against HYPE's 82%.

Correlation: 0.54
Size ratio: 1 : 2532.7
Ahead over 30 days: HYPE

DeltaDELTA

$0.008888

24h: -6.22%
Market cap: $8.00M
Volume 24h: $393,881
Volatility (ann.): 516%

HyperliquidHYPE

$84.6400

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

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

Performance

DELTAHYPE

7 days-24.84%+4.65%HYPE
30 days-33.77%-6.04%HYPE

Correlation

0.54over 27 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.5490d: 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	DELTA	HYPE
Max drawdown (400d)	-65.3%	-18.9%
Risk-adjusted return (90d)	-0.10	0.58

Relative strength over 90 days: HYPE outperformed DELTA by 50.8% — measured on the DELTA/HYPE ratio, so it holds regardless of market direction.

Delta →Hyperliquid →