Ribbon Finance vs Hyperliquid

Hyperliquid (HYPE) is 15371.8× the size of Ribbon Finance (RBN) by market capitalisation. Over the past 30 days, HYPE is ahead by 20.4 percentage points (RBN -26.5% against HYPE -6.0%). Their daily returns move barely together (correlation 0.02 across 32 shared trading days). HYPE has been the more volatile of the two, at 82% annualised against RBN's 59%.

Correlation: 0.02
Size ratio: 1 : 15371.8
Ahead over 30 days: HYPE

Ribbon FinanceRBN

$0.019507

24h: —
Market cap: $1.31M
Volume 24h: —
Volatility (ann.): 59%

HyperliquidHYPE

$84.4600

24h: -1.20%
Market cap: $20.18B
Volume 24h: $1.36B
Volatility (ann.): 82%

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

Performance

RBNHYPE

7 days-8.66%+4.65%HYPE
30 days-26.46%-6.04%HYPE

Correlation

0.02over 32 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0290d: 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	RBN	HYPE
Max drawdown (400d)	-27.3%	-18.9%
Risk-adjusted return (90d)	-0.38	0.58

Relative strength over 90 days: HYPE outperformed RBN by 19.8% — measured on the RBN/HYPE ratio, so it holds regardless of market direction.

Ribbon Finance →Hyperliquid →