Hyperliquid vs Gram (prev. Toncoin)

Hyperliquid (HYPE) is 5.2× the size of Gram (prev. Toncoin) (GRAM) by market capitalisation. Over the past 90 days, HYPE is ahead by 33.4 percentage points (HYPE +11.6% against GRAM -21.8%). Their daily returns move barely together (correlation 0.33 across 83 shared trading days). HYPE has been the more volatile of the two, at 83% annualised against GRAM's 59%.

Correlation: 0.33
Size ratio: 5.2×
Ahead over 90 days: HYPE

HyperliquidHYPE

$66.5000

24h: -2.88%
Market cap: $15.70B
Volume 24h: $1.68B
Volatility (ann.): 83%

Gram (prev. Toncoin)GRAM

$1.0510

24h: -1.51%
Market cap: $3.01B
Volume 24h: $64.51M
Volatility (ann.): 59%

HYPE 83.9%Share of the two combined market caps16.1% GRAM

Performance

HYPEGRAM

7 days-17.28%-2.34%GRAM
30 days-21.32%-24.71%HYPE
90 days+11.58%-21.83%HYPE

Correlation

0.33over 83 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.0590d: 0.331y: 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	GRAM
Max drawdown (400d)	-31.6%	-42.8%
Risk-adjusted return (90d)	0.14	-0.34

Relative strength over 90 days: HYPE outperformed GRAM by 42.7% — measured on the HYPE/GRAM ratio, so it holds regardless of market direction.

Hyperliquid →Gram (prev. Toncoin) →