Pyth ETH vs Hyperliquid

Hyperliquid (HYPE) is 20503.5× the size of Pyth ETH (PYTHETH) by market capitalisation. Over the past 30 days, PYTHETH is ahead by 14.1 percentage points (PYTHETH +8.1% against HYPE -6.0%). Their daily returns move closely together (correlation 0.83 across 23 shared trading days). HYPE has been the more volatile of the two, at 82% annualised against PYTHETH's 47%.

Correlation: 0.83
Size ratio: 1 : 20503.5
Ahead over 30 days: PYTHETH

Pyth ETHPYTHETH

$2,178.65

24h: +0.32%
Market cap: $1.01M
Volume 24h: —
Volatility (ann.): 47%

HyperliquidHYPE

$86.7800

24h: +2.85%
Market cap: $20.72B
Volume 24h: $1.35B
Volatility (ann.): 82%

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

Performance

PYTHETHHYPE

7 days+0.11%+4.65%HYPE
30 days+8.08%-6.04%PYTHETH

Correlation

0.83over 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	PYTHETH	HYPE
Max drawdown (400d)	-5.5%	-18.9%
Risk-adjusted return (90d)	0.17	0.58

Relative strength over 90 days: HYPE outperformed PYTHETH by 0.6% — measured on the PYTHETH/HYPE ratio, so it holds regardless of market direction.

Pyth ETH →Hyperliquid →