Meme Index vs Hyperliquid

Meme Index (MEMEX) and Hyperliquid (HYPE) compared side by side. Over the past 30 days, HYPE is ahead by 11.5 percentage points (MEMEX -17.5% against HYPE -6.0%). Their daily returns move barely together (correlation 0.13 across 34 shared trading days). Both have run at a similar volatility, around 84% annualised.

Correlation: 0.13
Ahead over 30 days: HYPE

Meme IndexMEMEX

$4.598e-5

24h: +1.16%
Market cap: —
Volume 24h: $20
Volatility (ann.): 87%

HyperliquidHYPE

$83.5600

24h: -1.22%
Market cap: $20.12B
Volume 24h: $1.41B
Volatility (ann.): 82%

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

Performance

MEMEXHYPE

7 days-2.12%+4.65%HYPE
30 days-17.52%-6.04%HYPE

Correlation

0.13over 34 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.1090d: 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	MEMEX	HYPE
Max drawdown (400d)	-26.5%	-18.9%
Risk-adjusted return (90d)	-0.11	0.58

Relative strength over 90 days: HYPE outperformed MEMEX by 6.5% — measured on the MEMEX/HYPE ratio, so it holds regardless of market direction.

Meme Index →Hyperliquid →