Denar Markets vs Hyperliquid

Hyperliquid (HYPE) is 3291925.1× the size of Denar Markets (DENAR) by market capitalisation. Over the past 30 days, HYPE is ahead by 93.3 percentage points (DENAR -99.4% against HYPE -6.0%). Their daily returns move barely together (correlation 0.11 across 30 shared trading days). DENAR has been the more volatile of the two, at 670% annualised against HYPE's 82%.

Correlation: 0.11
Size ratio: 1 : 3291925.1
Ahead over 30 days: HYPE

Denar MarketsDENAR

$6.380e-6

24h: -1.17%
Market cap: $6,379
Volume 24h: $64
Volatility (ann.): 670%

HyperliquidHYPE

$87.2900

24h: +1.40%
Market cap: $21.00B
Volume 24h: $1.35B
Volatility (ann.): 82%

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

Performance

DENARHYPE

7 days-97.24%+4.65%HYPE
30 days-99.35%-6.04%HYPE

Correlation

0.11over 30 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.1190d: 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	DENAR	HYPE
Max drawdown (400d)	-99.7%	-18.9%
Risk-adjusted return (90d)	-0.15	0.58

Relative strength over 90 days: HYPE outperformed DENAR by 99.7% — measured on the DENAR/HYPE ratio, so it holds regardless of market direction.

Denar Markets →Hyperliquid →