Ellipsis [OLD] vs Hyperliquid

Hyperliquid (HYPE) is 1928.8× the size of Ellipsis [OLD] (EPS) by market capitalisation. Over the past 30 days, HYPE is ahead by 8.7 percentage points (EPS -14.7% against HYPE -6.0%). Their daily returns move loosely together (correlation 0.38 across 33 shared trading days). HYPE has been the more volatile of the two, at 82% annualised against EPS's 54%.

Correlation: 0.38
Size ratio: 1 : 1928.8
Ahead over 30 days: HYPE

Ellipsis [OLD]EPS

$0.014456

24h: -0.47%
Market cap: $10.46M
Volume 24h: $5
Volatility (ann.): 54%

HyperliquidHYPE

$84.5400

24h: -1.17%
Market cap: $20.18B
Volume 24h: $1.42B
Volatility (ann.): 82%

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

Performance

EPSHYPE

7 days-10.24%+4.65%HYPE
30 days-14.73%-6.04%HYPE

Correlation

0.38over 33 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.3890d: 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	EPS	HYPE
Max drawdown (400d)	-18.8%	-18.9%
Risk-adjusted return (90d)	-0.14	0.58

Relative strength over 90 days: HYPE outperformed EPS by 10.2% — measured on the EPS/HYPE ratio, so it holds regardless of market direction.

Ellipsis [OLD] →Hyperliquid →