Hyperliquid (HYPE) is 3817.5× the size of LooPIN Network (LOOPIN) by market capitalisation. Their daily returns move loosely together (correlation 0.39 across 21 shared trading days). Both have run at a similar volatility, around 86% annualised.
LOOPINHYPE
0.39over 21 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 | LOOPIN | HYPE |
|---|---|---|
| Max drawdown (400d) | -62.1% | -18.9% |
| Risk-adjusted return (90d) | -0.33 | 0.58 |
Relative strength over 90 days: HYPE outperformed LOOPIN by 32.0% — measured on the LOOPIN/HYPE ratio, so it holds regardless of market direction.