Hyperliquid vs Rain

Hyperliquid (HYPE) is 4.8× the size of Rain (RAIN) by market capitalisation. Over the past 30 days, HYPE is ahead by 52.2 percentage points (HYPE -6.0% against RAIN -58.2%). Their daily returns move barely together (correlation 0.11 across 58 shared trading days). RAIN has been the more volatile of the two, at 134% annualised against HYPE's 82%.

Correlation: 0.11
Size ratio: 4.8×
Ahead over 30 days: HYPE

HyperliquidHYPE

$86.3300

24h: +1.40%
Market cap: $21.00B
Volume 24h: $1.35B
Volatility (ann.): 82%

RainRAIN

$0.006169

24h: -4.16%
Market cap: $4.40B
Volume 24h: $13.82M
Volatility (ann.): 134%

HYPE 82.7%Share of the two combined market caps17.3% RAIN

Performance

HYPERAIN

7 days+4.65%-8.29%HYPE
30 days-6.04%-58.25%HYPE

Correlation

0.11over 58 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0790d: 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	RAIN
Max drawdown (400d)	-18.9%	-68.5%
Risk-adjusted return (90d)	0.58	-0.37

Relative strength over 90 days: HYPE outperformed RAIN by 192.5% — measured on the HYPE/RAIN ratio, so it holds regardless of market direction.

Hyperliquid →Rain →