Ofero (OFE) and Hyperliquid (HYPE) compared side by side. Over the past 30 days, HYPE is ahead by 15.7 percentage points (OFE -21.8% against HYPE -6.0%). Their daily returns move barely together (correlation 0.17 across 27 shared trading days). Both have run at a similar volatility, around 81% annualised.
OFEHYPE
0.17over 27 shared trading days
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.
| Metric | OFE | HYPE |
|---|---|---|
| Max drawdown (400d) | -28.0% | -18.9% |
| Risk-adjusted return (90d) | -0.27 | 0.58 |
Relative strength over 90 days: HYPE outperformed OFE by 19.4% — measured on the OFE/HYPE ratio, so it holds regardless of market direction.