Tokenlon vs Hyperliquid

Hyperliquid (HYPE) is 903.5× the size of Tokenlon (LON) by market capitalisation. Over the past 30 days, LON is ahead by 1.6 percentage points (LON -4.4% against HYPE -6.0%). Their daily returns move barely together (correlation 0.35 across 34 shared trading days). LON has been the more volatile of the two, at 120% annualised against HYPE's 82%.

Correlation: 0.35
Size ratio: 1 : 903.5
Ahead over 30 days: LON

TokenlonLON

$0.179106

24h: +0.33%
Market cap: $22.17M
Volume 24h: $3,849
Volatility (ann.): 120%

HyperliquidHYPE

$83.6500

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

LON 0.1%Share of the two combined market caps99.9% HYPE

Performance

LONHYPE

7 days-0.49%+4.65%HYPE
30 days-4.42%-6.04%LON

Correlation

0.35over 34 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.3590d: 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	LON	HYPE
Max drawdown (400d)	-27.6%	-18.9%
Risk-adjusted return (90d)	-0.05	0.58

Relative strength over 90 days: HYPE outperformed LON by 11.6% — measured on the LON/HYPE ratio, so it holds regardless of market direction.

Tokenlon →Hyperliquid →