Hedron (HDRN) and Hyperliquid (HYPE) compared side by side. Over the past 30 days, HYPE is ahead by 39.0 percentage points (HDRN -45.1% against HYPE -6.0%). Their daily returns move barely together (correlation 0.29 across 29 shared trading days). HDRN has been the more volatile of the two, at 263% annualised against HYPE's 82%.
HDRNHYPE
0.29over 29 shared trading days
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.
| Metric | HDRN | HYPE |
|---|---|---|
| Max drawdown (400d) | -65.5% | -18.9% |
| Risk-adjusted return (90d) | -0.17 | 0.58 |
Relative strength over 90 days: HYPE outperformed HDRN by 43.4% — measured on the HDRN/HYPE ratio, so it holds regardless of market direction.