Hipo Governance Token vs Hyperliquid

Hyperliquid (HYPE) is 6113.1× the size of Hipo Governance Token (HPO) by market capitalisation. Over the past 30 days, HPO is ahead by 81.1 percentage points (HPO +75.0% against HYPE -6.0%). Their daily returns move loosely together (correlation 0.52 across 32 shared trading days). HPO has been the more volatile of the two, at 121% annualised against HYPE's 82%.

Correlation: 0.52
Size ratio: 1 : 6113.1
Ahead over 30 days: HPO

Hipo Governance TokenHPO

$0.004401

24h: -2.40%
Market cap: $3.32M
Volume 24h: $209
Volatility (ann.): 121%

HyperliquidHYPE

$84.3800

24h: -0.58%
Market cap: $20.29B
Volume 24h: $1.41B
Volatility (ann.): 82%

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

Performance

HPOHYPE

7 days+10.18%+4.65%HPO
30 days+75.05%-6.04%HPO

Correlation

0.52over 32 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.5390d: 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	HPO	HYPE
Max drawdown (400d)	-15.1%	-18.9%
Risk-adjusted return (90d)	0.94	0.58

Relative strength over 90 days: HPO outperformed HYPE by 107.4% — measured on the HPO/HYPE ratio, so it holds regardless of market direction.

Hipo Governance Token →Hyperliquid →