Hyperliquid (HYPE) is 909033.8× the size of trustInWeb3 (T3AI) by market capitalisation. Their daily returns move barely together (correlation 0.31 across 23 shared trading days). HYPE has been the more volatile of the two, at 81% annualised against T3AI's 41%.
T3AIHYPE
0.31over 23 shared trading days
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.
| Metric | T3AI | HYPE |
|---|---|---|
| Max drawdown (400d) | -21.5% | -18.9% |
| Risk-adjusted return (90d) | -0.49 | 0.56 |
Relative strength over 90 days: HYPE outperformed T3AI by 16.9% — measured on the T3AI/HYPE ratio, so it holds regardless of market direction.