DeDust (DUST) and Hyperliquid (HYPE) compared side by side. Over the past 30 days, HYPE is ahead by 25.9 percentage points (DUST -31.9% against HYPE -6.0%). Their daily returns move barely together (correlation 0.27 across 28 shared trading days). Both have run at a similar volatility, around 81% annualised.
DUSTHYPE
0.27over 28 shared trading days
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.
| Metric | DUST | HYPE |
|---|---|---|
| Max drawdown (400d) | -33.1% | -18.9% |
| Risk-adjusted return (90d) | -0.40 | 0.58 |
Relative strength over 90 days: HYPE outperformed DUST by 29.8% — measured on the DUST/HYPE ratio, so it holds regardless of market direction.