Hyperliquid vs Bitway

Hyperliquid (HYPE) is 4.1× the size of Bitway (BTW) by market capitalisation. Over the past 30 days, BTW is ahead by 175.1 percentage points (HYPE +5.4% against BTW +180.5%). Their daily returns move barely together (correlation 0.23 across 35 shared trading days). BTW has been the more volatile of the two, at 333% annualised against HYPE's 90%.

Correlation: 0.23
Size ratio: 4.1×
Ahead over 30 days: BTW

HyperliquidHYPE

$84.8400

24h: +0.58%
Market cap: $18.85B
Volume 24h: $575.30M
Volatility (ann.): 90%

BitwayBTW

$1.6800

24h: +3.55%
Market cap: $4.56B
Volume 24h: $12.23M
Volatility (ann.): 333%

HYPE 80.5%Share of the two combined market caps19.5% BTW

Performance

HYPEBTW

7 days-4.30%+101.46%BTW
30 days+5.43%+180.55%BTW

Correlation

0.23over 35 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.4490d: 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	HYPE	BTW
Max drawdown (400d)	-10.6%	-23.4%
Risk-adjusted return (90d)	0.53	0.60

Relative strength over 90 days: BTW outperformed HYPE by 49.2% — measured on the HYPE/BTW ratio, so it holds regardless of market direction.

Hyperliquid →Bitway →