edgeX vs Hyperliquid

Hyperliquid (HYPE) is 170.0× the size of edgeX (EDGE) by market capitalisation. Over the past 30 days, HYPE is ahead by 37.5 percentage points (EDGE -43.6% against HYPE -6.0%). Their daily returns move barely together (correlation 0.28 across 56 shared trading days). EDGE has been the more volatile of the two, at 197% annualised against HYPE's 82%.

Correlation: 0.28
Size ratio: 1 : 170.0
Ahead over 30 days: HYPE

edgeXEDGE

$0.344988

24h: +8.71%
Market cap: $120.78M
Volume 24h: $2.61M
Volatility (ann.): 197%

HyperliquidHYPE

$85.7600

24h: +2.78%
Market cap: $20.53B
Volume 24h: $1.34B
Volatility (ann.): 82%

EDGE 0.6%Share of the two combined market caps99.4% HYPE

Performance

EDGEHYPE

7 days-0.15%+4.65%HYPE
30 days-43.57%-6.04%HYPE

Correlation

0.28over 56 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	EDGE	HYPE
Max drawdown (400d)	-53.2%	-18.9%
Risk-adjusted return (90d)	0.11	0.58

Relative strength over 90 days: HYPE outperformed EDGE by 15.8% — measured on the EDGE/HYPE ratio, so it holds regardless of market direction.

edgeX →Hyperliquid →