Swappi vs Hyperliquid

Swappi (PPI) and Hyperliquid (HYPE) compared side by side. Over the past 30 days, PPI is ahead by 0.6 percentage points (PPI -5.4% against HYPE -6.0%). Their daily returns move barely together (correlation 0.32 across 29 shared trading days). PPI has been the more volatile of the two, at 140% annualised against HYPE's 82%.

Correlation: 0.32
Ahead over 30 days: PPI

SwappiPPI

$0.001012

24h: +0.04%
Market cap: —
Volume 24h: $178
Volatility (ann.): 140%

HyperliquidHYPE

$83.6500

24h: -2.36%
Market cap: $20.03B
Volume 24h: $1.44B
Volatility (ann.): 82%

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

Performance

PPIHYPE

7 days-3.89%+4.65%HYPE
30 days-5.42%-6.04%PPI

Correlation

0.32over 29 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.3290d: 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	PPI	HYPE
Max drawdown (400d)	-33.4%	-18.9%
Risk-adjusted return (90d)	-0.04	0.58

Relative strength over 90 days: HYPE outperformed PPI by 2.5% — measured on the PPI/HYPE ratio, so it holds regardless of market direction.

Swappi →Hyperliquid →