TENEX vs Hyperliquid

Hyperliquid (HYPE) is 19144.2× the size of TENEX (SN67) by market capitalisation. Over the past 30 days, HYPE is ahead by 5.9 percentage points (SN67 -11.9% against HYPE -6.0%). Their daily returns move closely together (correlation 0.79 across 23 shared trading days). SN67 has been the more volatile of the two, at 105% annualised against HYPE's 82%.

Correlation: 0.79
Size ratio: 1 : 19144.2
Ahead over 30 days: HYPE

TENEXSN67

$0.631953

24h: +0.78%
Market cap: $1.06M
Volume 24h: $30,963
Volatility (ann.): 105%

HyperliquidHYPE

$84.6100

24h: -1.47%
Market cap: $20.23B
Volume 24h: $1.27B
Volatility (ann.): 82%

SN67 0.0%Share of the two combined market caps100.0% HYPE

Performance

SN67HYPE

7 days-2.63%+4.65%HYPE
30 days-11.90%-6.04%HYPE

Correlation

0.79over 23 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: 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	SN67	HYPE
Max drawdown (400d)	-28.5%	-18.9%
Risk-adjusted return (90d)	-0.11	0.58

Relative strength over 90 days: HYPE outperformed SN67 by 19.0% — measured on the SN67/HYPE ratio, so it holds regardless of market direction.

TENEX →Hyperliquid →