OLY vs Hyperliquid
OLY (OLY) and Hyperliquid (HYPE) compared side by side. Their daily returns move barely together (correlation 0.12 across 35 shared trading days). Both have run at a similar volatility, around 78% annualised.
- Correlation
- 0.12
OLY 0.0%Share of the two combined market caps100.0% HYPE
Performance
OLYHYPE
- 7 daysHYPE
- 30 daysHYPE
- 90 days—
Correlation
0.12over 35 shared trading days
−1 opposite0 unrelated+1 in step
7d: insufficient data30d: 0.0290d: 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 | OLY | HYPE |
|---|---|---|
| Max drawdown (400d) | -33.5% | -18.9% |
| Risk-adjusted return (90d) | -0.27 | 0.56 |
Relative strength over 90 days: HYPE outperformed OLY by 16.4% — measured on the OLY/HYPE ratio, so it holds regardless of market direction.