The difficulty here is that however you interpret the Greek word "hypostasis," the translation to "evidence" is likely to be misleading.
Hebrews 11:1 is widely interpreted, by some Christians and a great many modern atheists, as a definition, and one that boils down to the idea that faith is a cocksure certainty that one is right about everything. A careful reading suggests that the writer didn't intend this as a definition, and the meaning of "hypostasis" in this context might be closer to "realization," in the sense that faith gives us a basis for interpreting the inevitable unknown in a way we choose, based on belief.
The usual interpretation (certainty one is right) has the problem that it's incompatible with practically every other use of the concept of "faith" in the entire Bible. People don't demonstrate "faith" in themselves; they demonstrate it in a commitment to a relationship. And until recently, this was the ordinary meaning of the word: we speak of being "faithful" to spouses or of "keeping faith" in our commitments to others. The rest of Hebrews 11, in fact, is specific examples of faith in that sense.
I suspect the modern use of the term was badly damaged by the practice of describing someone's religious category (Christian, Muslim, Jew, Hindu, Wiccan, etc.) as his "faith"; from that we got the idea that faith was the set of beliefs rather than the commitment. From there it became popular to treat Hebrews 11:1 as a definition, though scholars pointed out it wasn't. (John Calvin, for instance, disputed that treatment in the 16th century.)
"Evidence," of course, has recently been corrupted, too. The New Atheist writers promote substituting it for "proof," thus obscuring the status of most belief systems (including theirs); there's no proof, but there's lots of evidence. Try telling any judge that witness statements aren't evidence!
As to "truth," I maintain there is such a thing as absolute truth, but I also maintain that it's inherently beyond the grasp of humanity. All any of us, or even all of us together, can grasp is mere fragments of it.