WingRiders vs Hyperliquid

Hyperliquid (HYPE) is 59472.2× the size of WingRiders (WRT) by market capitalisation. Their daily returns move closely together (correlation 0.80 across 23 shared trading days). Both have run at a similar volatility, around 76% annualised.

Correlation: 0.80
Size ratio: 1 : 59472.2

WingRidersWRT

$0.003522

24h: +3.85%
Market cap: $339,762
Volume 24h: $39
Volatility (ann.): 71%

HyperliquidHYPE

$84.3900

24h: +1.79%
Market cap: $20.21B
Volume 24h: $1.43B
Volatility (ann.): 81%

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

Performance

WRTHYPE

7 days-7.11%+3.87%HYPE
30 days+2.78%-11.01%WRT
90 days—+45.28%—

Correlation

0.80over 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	WRT	HYPE
Max drawdown (400d)	-15.0%	-18.9%
Risk-adjusted return (90d)	0.04	0.56

Relative strength over 90 days: HYPE outperformed WRT by 1.2% — measured on the WRT/HYPE ratio, so it holds regardless of market direction.

WingRiders →Hyperliquid →