Swappy vs Hyperliquid

Hyperliquid (HYPE) is 90157.6× the size of Swappy (SWAPPY) by market capitalisation. Over the past 30 days, HYPE is ahead by 22.9 percentage points (SWAPPY -28.9% against HYPE -6.0%). Their daily returns move barely together (correlation 0.13 across 35 shared trading days). SWAPPY has been the more volatile of the two, at 240% annualised against HYPE's 82%.

Correlation: 0.13
Size ratio: 1 : 90157.6
Ahead over 30 days: HYPE

SwappySWAPPY

$0.000228

24h: +2.30%
Market cap: $228,156
Volume 24h: $2,523
Volatility (ann.): 240%

HyperliquidHYPE

$86.3200

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

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

Performance

SWAPPYHYPE

7 days-9.37%+4.65%HYPE
30 days-28.94%-6.04%HYPE

Correlation

0.13over 35 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0390d: 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	SWAPPY	HYPE
Max drawdown (400d)	-69.1%	-18.9%
Risk-adjusted return (90d)	-0.28	0.58

Relative strength over 90 days: HYPE outperformed SWAPPY by 66.3% — measured on the SWAPPY/HYPE ratio, so it holds regardless of market direction.

Swappy →Hyperliquid →