Universal USDC vs Hyperliquid

Hyperliquid (HYPE) is 26546.8× the size of Universal USDC (UUSDC) by market capitalisation. Over the past 30 days, UUSDC is ahead by 6.5 percentage points (UUSDC +0.5% against HYPE -6.0%). Their daily returns move barely in opposite directions (correlation -0.26 across 23 shared trading days). HYPE has been the more volatile of the two, at 82% annualised against UUSDC's 4%.

Correlation: -0.26
Size ratio: 1 : 26546.8
Ahead over 30 days: UUSDC

Universal USDCUUSDC

$2.0900

24h: +0.01%
Market cap: $754,588
Volume 24h: —
Volatility (ann.): 4%

HyperliquidHYPE

$83.6500

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

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

Performance

UUSDCHYPE

7 days+0.00%+4.65%HYPE
30 days+0.48%-6.04%UUSDC

Correlation

-0.26over 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	UUSDC	HYPE
Max drawdown (400d)	-0.5%	-18.9%
Risk-adjusted return (90d)	0.11	0.58

Relative strength over 90 days: HYPE outperformed UUSDC by 7.6% — measured on the UUSDC/HYPE ratio, so it holds regardless of market direction.

Universal USDC →Hyperliquid →