Loan Protocol vs Hyperliquid

Hyperliquid (HYPE) is 2286.0× the size of Loan Protocol (LOAN) by market capitalisation. Over the past 30 days, HYPE is ahead by 6.6 percentage points (LOAN -12.6% against HYPE -6.0%). Their daily returns move loosely together (correlation 0.44 across 23 shared trading days). Both have run at a similar volatility, around 80% annualised.

Correlation: 0.44
Size ratio: 1 : 2286.0
Ahead over 30 days: HYPE

Loan ProtocolLOAN

$0.000261

24h: -0.05%
Market cap: $8.79M
Volume 24h: $73,444
Volatility (ann.): 79%

HyperliquidHYPE

$83.9600

24h: -1.43%
Market cap: $20.08B
Volume 24h: $1.44B
Volatility (ann.): 82%

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

Performance

LOANHYPE

7 days-8.01%+4.65%HYPE
30 days-12.60%-6.04%HYPE

Correlation

0.44over 23 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	LOAN	HYPE
Max drawdown (400d)	-22.6%	-18.9%
Risk-adjusted return (90d)	-0.16	0.58

Relative strength over 90 days: HYPE outperformed LOAN by 17.2% — measured on the LOAN/HYPE ratio, so it holds regardless of market direction.

Loan Protocol →Hyperliquid →