SpiderSwap vs Hyperliquid

Hyperliquid (HYPE) is 9435.9× the size of SpiderSwap (SPDR) by market capitalisation. Over the past 30 days, SPDR is ahead by 2.0 percentage points (SPDR -4.0% against HYPE -6.0%). Their daily returns move loosely together (correlation 0.59 across 32 shared trading days). HYPE has been the more volatile of the two, at 82% annualised against SPDR's 68%.

Correlation: 0.59
Size ratio: 1 : 9435.9
Ahead over 30 days: SPDR

SpiderSwapSPDR

$0.002158

24h: +0.11%
Market cap: $2.16M
Volume 24h: $162
Volatility (ann.): 68%

HyperliquidHYPE

$84.7300

24h: -1.69%
Market cap: $20.36B
Volume 24h: $1.41B
Volatility (ann.): 82%

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

Performance

SPDRHYPE

7 days-5.32%+4.65%HYPE
30 days-4.02%-6.04%SPDR

Correlation

0.59over 32 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.5990d: 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	SPDR	HYPE
Max drawdown (400d)	-16.2%	-18.9%
Risk-adjusted return (90d)	0.02	0.58

Relative strength over 90 days: HYPE outperformed SPDR by 1.6% — measured on the SPDR/HYPE ratio, so it holds regardless of market direction.

SpiderSwap →Hyperliquid →