EZswap Protocol vs Hyperliquid

EZswap Protocol (EZSWAP) and Hyperliquid (HYPE) compared side by side. Their daily returns move barely in opposite directions (correlation -0.09 across 37 shared trading days). EZSWAP has been the more volatile of the two, at 167% annualised against HYPE's 82%.

Correlation: -0.09

EZswap ProtocolEZSWAP

$2.194e-5

24h: -4.38%
Market cap: —
Volume 24h: $1,051
Volatility (ann.): 167%

HyperliquidHYPE

$83.5600

24h: -1.22%
Market cap: $20.12B
Volume 24h: $1.41B
Volatility (ann.): 82%

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

Performance

EZSWAPHYPE

7 days+7.15%+4.65%EZSWAP
30 days-9.80%-6.04%HYPE
90 days-39.92%——
1 year-62.31%——

Correlation

-0.09over 37 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.2290d: 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	EZSWAP	HYPE
Max drawdown (400d)	-74.4%	-18.9%
Risk-adjusted return (90d)	-0.33	0.58

Relative strength over 90 days: HYPE outperformed EZSWAP by 30.0% — measured on the EZSWAP/HYPE ratio, so it holds regardless of market direction.

EZswap Protocol →Hyperliquid →