Hyperliquid vs Dai

Hyperliquid (HYPE) is 4.5× the size of Dai (DAI) by market capitalisation. Over the past 30 days, DAI is ahead by 6.0 percentage points (HYPE -6.0% against DAI +0.0%). Their daily returns move barely in opposite directions (correlation -0.23 across 40 shared trading days). HYPE has been the more volatile of the two, at 82% annualised against DAI's 1%.

Correlation: -0.23
Size ratio: 4.5×
Ahead over 30 days: DAI

HyperliquidHYPE

$84.9300

24h: -0.40%
Market cap: $20.23B
Volume 24h: $1.37B
Volatility (ann.): 82%

DaiDAI

$1.0000

24h: -0.01%
Market cap: $4.52B
Volume 24h: $120.17M
Volatility (ann.): 1%

HYPE 81.8%Share of the two combined market caps18.2% DAI

Performance

HYPEDAI

7 days+4.65%+0.03%HYPE
30 days-6.04%+0.00%DAI

Correlation

-0.23over 40 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.3090d: 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	DAI
Max drawdown (400d)	-18.9%	-0.1%
Risk-adjusted return (90d)	0.58	0.03

Relative strength over 90 days: DAI outperformed HYPE by 7.9% — measured on the HYPE/DAI ratio, so it holds regardless of market direction.

Hyperliquid →Dai →