Minswap vs Hyperliquid

Hyperliquid (HYPE) is 4122.6× the size of Minswap (MIN) by market capitalisation. Over the past 30 days, MIN is ahead by 17.5 percentage points (MIN +11.5% against HYPE -6.0%). Their daily returns move closely together (correlation 0.78 across 23 shared trading days). HYPE has been the more volatile of the two, at 82% annualised against MIN's 71%.

Correlation: 0.78
Size ratio: 1 : 4122.6
Ahead over 30 days: MIN

MinswapMIN

$0.002866

24h: +0.41%
Market cap: $4.91M
Volume 24h: $123,416
Volatility (ann.): 71%

HyperliquidHYPE

$84.5400

24h: -0.40%
Market cap: $20.23B
Volume 24h: $1.37B
Volatility (ann.): 82%

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

Performance

MINHYPE

7 days-0.56%+4.65%HYPE
30 days+11.48%-6.04%MIN

Correlation

0.78over 23 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: 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	MIN	HYPE
Max drawdown (400d)	-13.9%	-18.9%
Risk-adjusted return (90d)	0.16	0.58

Relative strength over 90 days: MIN outperformed HYPE by 5.6% — measured on the MIN/HYPE ratio, so it holds regardless of market direction.

Minswap →Hyperliquid →