Hydrex vs Hyperliquid

Hyperliquid (HYPE) is 21819.6× the size of Hydrex (HYDX) by market capitalisation. Over the past 30 days, HYPE is ahead by 23.6 percentage points (HYDX -29.7% against HYPE -6.0%). Their daily returns move loosely together (correlation 0.40 across 31 shared trading days). HYDX has been the more volatile of the two, at 269% annualised against HYPE's 82%.

Correlation: 0.40
Size ratio: 1 : 21819.6
Ahead over 30 days: HYPE

HydrexHYDX

$0.018566

24h: -0.38%
Market cap: $926,989
Volume 24h: $8,302
Volatility (ann.): 269%

HyperliquidHYPE

$84.6100

24h: -1.47%
Market cap: $20.23B
Volume 24h: $1.27B
Volatility (ann.): 82%

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

Performance

HYDXHYPE

7 days-8.30%+4.65%HYPE
30 days-29.66%-6.04%HYPE

Correlation

0.40over 31 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.4090d: 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	HYDX	HYPE
Max drawdown (400d)	-57.7%	-18.9%
Risk-adjusted return (90d)	-0.11	0.58

Relative strength over 90 days: HYPE outperformed HYDX by 30.5% — measured on the HYDX/HYPE ratio, so it holds regardless of market direction.

Hydrex →Hyperliquid →