Gameswap vs Hyperliquid

Hyperliquid (HYPE) is 121658.6× the size of Gameswap (GSWAP) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.04 across 35 shared trading days). HYPE has been the more volatile of the two, at 81% annualised against GSWAP's 57%.

Correlation: -0.04
Size ratio: 1 : 121658.6

GameswapGSWAP

$0.013967

24h: +6.56%
Market cap: $154,096
Volume 24h: $41
Volatility (ann.): 57%

HyperliquidHYPE

$78.4600

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

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

Performance

GSWAPHYPE

7 days+0.65%+3.87%HYPE
30 days-22.92%-11.01%HYPE
90 days—+45.28%—

Correlation

-0.04over 35 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0690d: 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	GSWAP	HYPE
Max drawdown (400d)	-28.7%	-18.9%
Risk-adjusted return (90d)	-0.42	0.56

Relative strength over 90 days: HYPE outperformed GSWAP by 20.4% — measured on the GSWAP/HYPE ratio, so it holds regardless of market direction.

Gameswap →Hyperliquid →