Exotic Markets vs Hyperliquid

Hyperliquid (HYPE) is 606506.2× the size of Exotic Markets (EXO) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.32 across 23 shared trading days). EXO has been the more volatile of the two, at 151% annualised against HYPE's 81%.

Correlation: -0.32
Size ratio: 1 : 606506.2

Exotic MarketsEXO

$0.033969

24h: -0.01%
Market cap: $30,910
Volume 24h: $6
Volatility (ann.): 151%

HyperliquidHYPE

$78.4600

24h: -8.56%
Market cap: $18.75B
Volume 24h: $1.24B
Volatility (ann.): 81%

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

Performance

EXOHYPE

7 days-36.85%+3.87%HYPE
30 days—-11.01%—
90 days—+45.28%—

Correlation

-0.32over 23 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: 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	EXO	HYPE
Max drawdown (400d)	-36.9%	-18.9%
Risk-adjusted return (90d)	-0.22	0.56

Relative strength over 90 days: HYPE outperformed EXO by 29.4% — measured on the EXO/HYPE ratio, so it holds regardless of market direction.

Exotic Markets →Hyperliquid →