MUX Protocol vs Hyperliquid

Hyperliquid (HYPE) is 2424.8× the size of MUX Protocol (MCB) by market capitalisation. Over the past 30 days, MCB is ahead by 343.0 percentage points (MCB +336.9% against HYPE -6.0%). Their daily returns move loosely together (correlation 0.36 across 27 shared trading days). MCB has been the more volatile of the two, at 1124% annualised against HYPE's 82%.

Correlation: 0.36
Size ratio: 1 : 2424.8
Ahead over 30 days: MCB

MUX ProtocolMCB

$2.2400

24h: +0.01%
Market cap: $8.50M
Volume 24h: $243
Volatility (ann.): 1124%

HyperliquidHYPE

$85.5600

24h: -1.16%
Market cap: $20.61B
Volume 24h: $1.37B
Volatility (ann.): 82%

MCB 0.0%Share of the two combined market caps100.0% HYPE

Performance

MCBHYPE

7 days+365.23%+4.65%MCB
30 days+336.91%-6.04%MCB

Correlation

0.36over 27 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.3690d: 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	MCB	HYPE
Max drawdown (400d)	-15.2%	-18.9%
Risk-adjusted return (90d)	0.38	0.58

Relative strength over 90 days: MCB outperformed HYPE by 387.1% — measured on the MCB/HYPE ratio, so it holds regardless of market direction.

MUX Protocol →Hyperliquid →