Rails vs Hyperliquid

Hyperliquid (HYPE) is 22035.2× the size of Rails (RAILS) by market capitalisation. Over the past 30 days, RAILS is ahead by 16.6 percentage points (RAILS +10.6% against HYPE -6.0%). Their daily returns move barely in opposite directions (correlation -0.15 across 23 shared trading days). RAILS has been the more volatile of the two, at 177% annualised against HYPE's 82%.

Correlation: -0.15
Size ratio: 1 : 22035.2
Ahead over 30 days: RAILS

RailsRAILS

$0.025779

24h: +0.02%
Market cap: $930,868
Volume 24h: $1,827
Volatility (ann.): 177%

HyperliquidHYPE

$85.6400

24h: -0.53%
Market cap: $20.51B
Volume 24h: $1.39B
Volatility (ann.): 82%

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

Performance

RAILSHYPE

7 days-14.93%+4.65%HYPE
30 days+10.58%-6.04%RAILS

Correlation

-0.15over 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	RAILS	HYPE
Max drawdown (400d)	-27.8%	-18.9%
Risk-adjusted return (90d)	0.06	0.58

Relative strength over 90 days: RAILS outperformed HYPE by 1.7% — measured on the RAILS/HYPE ratio, so it holds regardless of market direction.

Rails →Hyperliquid →