ROLL vs Hyperliquid

Hyperliquid (HYPE) is 2182.9× the size of ROLL (ROLL) by market capitalisation. Over the past 30 days, HYPE is ahead by 40.7 percentage points (ROLL -46.7% against HYPE -6.0%). Their daily returns move loosely together (correlation 0.50 across 33 shared trading days). ROLL has been the more volatile of the two, at 193% annualised against HYPE's 82%.

Correlation: 0.50
Size ratio: 1 : 2182.9
Ahead over 30 days: HYPE

ROLLROLL

$0.060794

24h: -1.46%
Market cap: $9.42M
Volume 24h: $324,646
Volatility (ann.): 193%

HyperliquidHYPE

$86.3200

24h: -1.76%
Market cap: $20.57B
Volume 24h: $1.32B
Volatility (ann.): 82%

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

Performance

ROLLHYPE

7 days-1.01%+4.65%HYPE
30 days-46.71%-6.04%HYPE

Correlation

0.50over 33 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.5190d: 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	ROLL	HYPE
Max drawdown (400d)	-57.6%	-18.9%
Risk-adjusted return (90d)	-0.27	0.58

Relative strength over 90 days: HYPE outperformed ROLL by 53.9% — measured on the ROLL/HYPE ratio, so it holds regardless of market direction.

ROLL →Hyperliquid →