Hyperliquid vs Sui
Hyperliquid (HYPE) is 4.3× the size of Sui (SUI) by market capitalisation. Their daily returns move closely together (correlation 0.63 across 33 shared trading days). Both have run at a similar volatility, around 94% annualised.
Performance
| Period | HYPE | SUI | Ahead |
|---|---|---|---|
| 7 days | +15.31% | +46.72% | SUI |
| 30 days | +56.88% | +55.69% | HYPE |
| 90 days | — | +74.57% | — |
| 1 year | — | -61.59% | — |
Risk & extremes
| Metric | HYPE | SUI |
|---|---|---|
| Max drawdown (400d) | -10.6% | -83.2% |
| Risk-adjusted return (90d) | 0.60 | 0.90 |
| Best 30 days (past year) | — | +55.7% |
| Worst 30 days (past year) | — | -53.6% |
Relative strength over 90 days: SUI outperformed HYPE by 10.0% — measured on the HYPE/SUI ratio, so it holds regardless of market direction.
Correlation
0.63over 33 shared trading days
7d: insufficient data30d: 0.6390d: 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.