ZygoSwap vs Hyperliquid

Hyperliquid (HYPE) is 33452.2× the size of ZygoSwap (ZSWAP) by market capitalisation. Over the past 30 days, HYPE is ahead by 36.3 percentage points (ZSWAP -42.4% against HYPE -6.0%). Their daily returns move barely together (correlation 0.19 across 31 shared trading days). Both have run at a similar volatility, around 82% annualised.

Correlation: 0.19
Size ratio: 1 : 33452.2
Ahead over 30 days: HYPE

ZygoSwapZSWAP

$0.000607

24h: -0.96%
Market cap: $607,227
Volume 24h: $42,179
Volatility (ann.): 83%

HyperliquidHYPE

$84.4100

24h: +0.57%
Market cap: $20.31B
Volume 24h: $1.36B
Volatility (ann.): 82%

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

Performance

ZSWAPHYPE

7 days-6.76%+4.65%HYPE
30 days-42.36%-6.04%HYPE

Correlation

0.19over 31 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.1990d: 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	ZSWAP	HYPE
Max drawdown (400d)	-43.9%	-18.9%
Risk-adjusted return (90d)	-0.39	0.58

Relative strength over 90 days: HYPE outperformed ZSWAP by 33.4% — measured on the ZSWAP/HYPE ratio, so it holds regardless of market direction.

ZygoSwap →Hyperliquid →