HYPD vs TELA: Correlation
Measured on weekly returns over the past three years, Hyperion DeFi, Inc. (HYPD) and TELA Bio, Inc. (TELA) carry a correlation of 0.34, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HYPD and TELA?
Over the past 3 years, HYPD and TELA moved with a correlation of 0.34, which is moderate. The link has loosened recently: the 1-year correlation (0.05) runs below the 3-year figure (0.34). Over 5 years the correlation is 0.29, and the annualized covariance of weekly returns is 5600.0 %².
Within HYPD's tracked universe of 14 assets, TELA comes in at #9 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months HYPD outperformed by 15.6 percentage points (-47.5% for HYPD against -63.1% for TELA). Note the risk asymmetry: HYPD runs 2.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
HYPD vs TELA: side by side
| HYPD (Hyperion DeFi, Inc.) | TELA (TELA Bio, Inc.) | |
|---|---|---|
| 1-year return | -47.5% | -63.1% |
| 5-year return | -99.1% | -95.2% |
| Volatility (ann.) | 215.9% | 75.9% |
| Beta vs S&P 500 | 3.08 | 0.88 |
| Max drawdown (3Y) | -99.5% | -94.2% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HYPD | TELA |
|---|---|---|
| 2022 | -59.3% | -10.2% |
| 2023 | +27.6% | -42.4% |
| 2024 | -93.0% | -54.4% |
| 2025 | -69.5% | -60.9% |
| 2026 | +1.7% | -44.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HYPD and TELA good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between HYPD and TELA?
As of 2026-08-27, the correlation of weekly returns between HYPD and TELA is 0.34 over 3 years, 0.05 over 1 year and 0.29 over 5 years.
Is TELA a good diversifier for HYPD?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.34 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/hypd-vs-tela.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hypd-vs-tela/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HYPD correlations · TELA correlations
