Figure Heloc (FIGR_HELOC) is 2.8× the size of Cardano (ADA) by market capitalisation. Their daily returns move barely together (correlation 0.16 across 29 shared trading days). ADA has been the more volatile of the two, at 78% annualised against FIGR_HELOC's 54%.
| Period | FIGR_HELOC | ADA | Ahead |
|---|---|---|---|
| 7 days | -1.63% | +9.84% | ADA |
| 30 days | +2.19% | +14.47% | ADA |
| 90 days | — | +45.47% | — |
| 1 year | — | -74.42% | — |
| Metric | FIGR_HELOC | ADA |
|---|---|---|
| Max drawdown (400d) | -5.2% | -85.0% |
| Risk-adjusted return (90d) | 0.04 | 0.60 |
| Best 30 days (past year) | — | +38.4% |
| Worst 30 days (past year) | — | -42.7% |
Relative strength over 90 days: ADA outperformed FIGR_HELOC by 8.8% — measured on the FIGR_HELOC/ADA ratio, so it holds regardless of market direction.
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.