Pear Protocol vs Hyperliquid

Hyperliquid (HYPE) is 1785.7× the size of Pear Protocol (PEAR) by market capitalisation. Over the past 30 days, PEAR is ahead by 64.0 percentage points (PEAR +58.0% against HYPE -6.0%). Their daily returns move closely together (correlation 0.64 across 33 shared trading days). PEAR has been the more volatile of the two, at 249% annualised against HYPE's 82%.

Correlation: 0.64
Size ratio: 1 : 1785.7
Ahead over 30 days: PEAR

Pear ProtocolPEAR

$0.022078

24h: -2.21%
Market cap: $11.34M
Volume 24h: $49,882
Volatility (ann.): 249%

HyperliquidHYPE

$84.6400

24h: -1.82%
Market cap: $20.26B
Volume 24h: $1.41B
Volatility (ann.): 82%

PEAR 0.1%Share of the two combined market caps99.9% HYPE

Performance

PEARHYPE

7 days-30.69%+4.65%HYPE
30 days+57.96%-6.04%PEAR

Correlation

0.64over 33 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.6490d: 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	PEAR	HYPE
Max drawdown (400d)	-50.0%	-18.9%
Risk-adjusted return (90d)	0.23	0.58

Relative strength over 90 days: PEAR outperformed HYPE by 53.9% — measured on the PEAR/HYPE ratio, so it holds regardless of market direction.

Pear Protocol →Hyperliquid →