NOXO vs Hyperliquid

Hyperliquid (HYPE) is 356.3× the size of NOXO (NOXO) by market capitalisation. Over the past 30 days, NOXO is ahead by 11.8 percentage points (NOXO +5.7% against HYPE -6.0%). Their daily returns move barely in opposite directions (correlation -0.21 across 33 shared trading days). NOXO has been the more volatile of the two, at 99% annualised against HYPE's 82%.

Correlation: -0.21
Size ratio: 1 : 356.3
Ahead over 30 days: NOXO

NOXONOXO

$0.339814

24h: -2.03%
Market cap: $56.64M
Volume 24h: $20,261
Volatility (ann.): 99%

HyperliquidHYPE

$84.5400

24h: -1.17%
Market cap: $20.18B
Volume 24h: $1.42B
Volatility (ann.): 82%

NOXO 0.3%Share of the two combined market caps99.7% HYPE

Performance

NOXOHYPE

7 days-16.65%+4.65%HYPE
30 days+5.75%-6.04%NOXO

Correlation

-0.21over 33 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.2190d: 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	NOXO	HYPE
Max drawdown (400d)	-19.5%	-18.9%
Risk-adjusted return (90d)	0.63	0.58

Relative strength over 90 days: NOXO outperformed HYPE by 59.8% — measured on the NOXO/HYPE ratio, so it holds regardless of market direction.

NOXO →Hyperliquid →