Figure Heloc (FIGR_HELOC) is 391768.9× the size of Etherfuse GILTS (GILTS) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.02 across 27 shared trading days). FIGR_HELOC has been the more volatile of the two, at 52% annualised against GILTS's 22%.
GILTSFIGR_HELOC
-0.02over 27 shared trading days
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.
| Metric | GILTS | FIGR_HELOC |
|---|---|---|
| Max drawdown (400d) | -7.9% | -5.5% |
| Risk-adjusted return (90d) | -0.02 | 0.05 |
Relative strength over 90 days: FIGR_HELOC outperformed GILTS by 1.5% — measured on the GILTS/FIGR_HELOC ratio, so it holds regardless of market direction.