Etherfuse CETES vs Figure Heloc

Figure Heloc (FIGR_HELOC) is 32295.8× the size of Etherfuse CETES (CETES) by market capitalisation. Over the past 30 days, FIGR_HELOC is ahead by 4.0 percentage points (CETES -1.0% against FIGR_HELOC +3.0%). Their daily returns move barely in opposite directions (correlation -0.21 across 20 shared trading days). FIGR_HELOC has been the more volatile of the two, at 52% annualised against CETES's 13%.

Correlation: -0.21
Size ratio: 1 : 32295.8
Ahead over 30 days: FIGR_HELOC

Etherfuse CETESCETES

$0.063317

24h: -0.84%
Market cap: $845,912
Volume 24h: $17,674
Volatility (ann.): 13%

Figure HelocFIGR_HELOC

$1.0460

24h: +1.54%
Market cap: $27.32B
Volume 24h: $22.10M
Volatility (ann.): 52%

CETES 0.0%Share of the two combined market caps100.0% FIGR_HELOC

Performance

CETESFIGR_HELOC

7 days+0.33%-0.10%CETES
30 days-1.04%+3.00%FIGR_HELOC

Correlation

-0.21over 20 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	CETES	FIGR_HELOC
Max drawdown (400d)	-3.8%	-5.5%
Risk-adjusted return (90d)	-0.08	0.05

Relative strength over 90 days: CETES outperformed FIGR_HELOC by 1.5% — measured on the CETES/FIGR_HELOC ratio, so it holds regardless of market direction.

Etherfuse CETES →Figure Heloc →