SMARDEX vs Hyperliquid

Hyperliquid (HYPE) is 3124.8× the size of SMARDEX (SDEX) by market capitalisation. Over the past 30 days, SDEX is ahead by 50.7 percentage points (SDEX +44.7% against HYPE -6.0%). Their daily returns move barely together (correlation 0.04 across 32 shared trading days). SDEX has been the more volatile of the two, at 95% annualised against HYPE's 82%.

Correlation: 0.04
Size ratio: 1 : 3124.8
Ahead over 30 days: SDEX

SMARDEXSDEX

$0.000674

24h: +0.35%
Market cap: $6.61M
Volume 24h: $19,134
Volatility (ann.): 95%

HyperliquidHYPE

$86.0600

24h: +0.01%
Market cap: $20.66B
Volume 24h: $1.38B
Volatility (ann.): 82%

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

Performance

SDEXHYPE

7 days+37.49%+4.65%SDEX
30 days+44.66%-6.04%SDEX

Correlation

0.04over 32 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.0590d: 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	SDEX	HYPE
Max drawdown (400d)	-12.9%	-18.9%
Risk-adjusted return (90d)	0.42	0.58

Relative strength over 90 days: SDEX outperformed HYPE by 35.5% — measured on the SDEX/HYPE ratio, so it holds regardless of market direction.

SMARDEX →Hyperliquid →