Nash vs Hyperliquid

Hyperliquid (HYPE) is 4938.5× the size of Nash (NEX) by market capitalisation. Over the past 30 days, NEX is ahead by 4.3 percentage points (NEX -1.7% against HYPE -6.0%). Their daily returns move barely together (correlation 0.27 across 21 shared trading days). NEX has been the more volatile of the two, at 113% annualised against HYPE's 82%.

Correlation: 0.27
Size ratio: 1 : 4938.5
Ahead over 30 days: NEX

NashNEX

$0.092477

24h: +0.47%
Market cap: $4.10M
Volume 24h: $20
Volatility (ann.): 113%

HyperliquidHYPE

$84.6100

24h: -1.47%
Market cap: $20.23B
Volume 24h: $1.27B
Volatility (ann.): 82%

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

Performance

NEXHYPE

7 days-12.90%+4.65%HYPE
30 days-1.74%-6.04%NEX

Correlation

0.27over 21 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	NEX	HYPE
Max drawdown (400d)	-21.1%	-18.9%
Risk-adjusted return (90d)	-0.02	0.58

Relative strength over 90 days: HYPE outperformed NEX by 6.9% — measured on the NEX/HYPE ratio, so it holds regardless of market direction.

Nash →Hyperliquid →