THORSwap vs Hyperliquid

Hyperliquid (HYPE) is 2162.6× the size of THORSwap (THOR) by market capitalisation. Over the past 30 days, THOR is ahead by 22.6 percentage points (THOR +16.6% against HYPE -6.0%). Their daily returns move barely together (correlation 0.24 across 32 shared trading days). THOR has been the more volatile of the two, at 108% annualised against HYPE's 82%.

Correlation: 0.24
Size ratio: 1 : 2162.6
Ahead over 30 days: THOR

THORSwapTHOR

$0.037566

24h: —
Market cap: $9.51M
Volume 24h: $9,618
Volatility (ann.): 108%

HyperliquidHYPE

$86.3200

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

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

Performance

THORHYPE

7 days-4.21%+4.65%HYPE
30 days+16.55%-6.04%THOR

Correlation

0.24over 32 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.2490d: 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	THOR	HYPE
Max drawdown (400d)	-11.2%	-18.9%
Risk-adjusted return (90d)	0.24	0.58

Relative strength over 90 days: THOR outperformed HYPE by 22.4% — measured on the THOR/HYPE ratio, so it holds regardless of market direction.

THORSwap →Hyperliquid →