Galaxy WETH Quality vs Hyperliquid

Hyperliquid (HYPE) is 5569.8× the size of Galaxy WETH Quality (ETH:GWETHQ) by market capitalisation. Over the past 30 days, ETH:GWETHQ is ahead by 15.6 percentage points (ETH:GWETHQ +9.5% against HYPE -6.0%). Their daily returns move very closely together (correlation 0.86 across 23 shared trading days). HYPE has been the more volatile of the two, at 82% annualised against ETH:GWETHQ's 48%.

Correlation: 0.86
Size ratio: 1 : 5569.8
Ahead over 30 days: ETH:GWETHQ

Galaxy WETH QualityETH:GWETHQ

$2,284.03

24h: +0.36%
Market cap: $3.62M
Volume 24h: —
Volatility (ann.): 48%

HyperliquidHYPE

$84.8800

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

ETH:GWETHQ 0.0%Share of the two combined market caps100.0% HYPE

Performance

ETH:GWETHQHYPE

7 days-2.78%+4.65%HYPE
30 days+9.54%-6.04%ETH:GWETHQ

Correlation

0.86over 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	ETH:GWETHQ	HYPE
Max drawdown (400d)	-5.6%	-18.9%
Risk-adjusted return (90d)	0.20	0.58

Relative strength over 90 days: ETH:GWETHQ outperformed HYPE by 3.8% — measured on the ETH:GWETHQ/HYPE ratio, so it holds regardless of market direction.

Galaxy WETH Quality →Hyperliquid →