Hyperliquid (HYPE) is 3731.8× the size of inSure DeFi (SURE) by market capitalisation. Their daily returns move barely together (correlation 0.07 across 37 shared trading days). SURE has been the more volatile of the two, at 143% annualised against HYPE's 82%.
SUREHYPE
0.07over 37 shared trading days
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.
| Metric | SURE | HYPE |
|---|---|---|
| Max drawdown (400d) | -92.6% | -18.9% |
| Risk-adjusted return (90d) | -0.44 | 0.58 |
Relative strength over 90 days: HYPE outperformed SURE by 92.7% — measured on the SURE/HYPE ratio, so it holds regardless of market direction.