Pyth USDC vs Hyperliquid

Hyperliquid (HYPE) is 24312.4× the size of Pyth USDC (PYTHUSDC) by market capitalisation. Over the past 30 days, PYTHUSDC is ahead by 6.1 percentage points (PYTHUSDC +0.1% against HYPE -6.0%). Their daily returns move barely in opposite directions (correlation -0.27 across 23 shared trading days). HYPE has been the more volatile of the two, at 82% annualised against PYTHUSDC's 2%.

Correlation: -0.27
Size ratio: 1 : 24312.4
Ahead over 30 days: PYTHUSDC

Pyth USDCPYTHUSDC

$1.0730

24h: +0.01%
Market cap: $855,295
Volume 24h: —
Volatility (ann.): 2%

HyperliquidHYPE

$86.9900

24h: +3.13%
Market cap: $20.79B
Volume 24h: $1.38B
Volatility (ann.): 82%

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

Performance

PYTHUSDCHYPE

7 days+0.00%+4.65%HYPE
30 days+0.09%-6.04%PYTHUSDC

Correlation

-0.27over 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	PYTHUSDC	HYPE
Max drawdown (400d)	-0.3%	-18.9%
Risk-adjusted return (90d)	0.04	0.58

Relative strength over 90 days: HYPE outperformed PYTHUSDC by 8.0% — measured on the PYTHUSDC/HYPE ratio, so it holds regardless of market direction.

Pyth USDC →Hyperliquid →