Figure Heloc vs Hyperliquid

Figure Heloc (FIGR_HELOC) is 1.3× the size of Hyperliquid (HYPE) by market capitalisation. Over the past 30 days, FIGR_HELOC is ahead by 8.7 percentage points (FIGR_HELOC +2.7% against HYPE -6.0%). Their daily returns move barely in opposite directions (correlation -0.09 across 56 shared trading days). HYPE has been the more volatile of the two, at 82% annualised against FIGR_HELOC's 52%.

Correlation: -0.09
Size ratio: 1.3×
Ahead over 30 days: FIGR_HELOC

Figure HelocFIGR_HELOC

$1.0290

24h: -0.93%
Market cap: $26.89B
Volume 24h: $467.76M
Volatility (ann.): 52%

HyperliquidHYPE

$84.6600

24h: -0.58%
Market cap: $20.29B
Volume 24h: $1.41B
Volatility (ann.): 82%

FIGR_HELOC 57.0%Share of the two combined market caps43.0% HYPE

Performance

FIGR_HELOCHYPE

7 days+0.19%+4.65%HYPE
30 days+2.69%-6.04%FIGR_HELOC

Correlation

-0.09over 56 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.0290d: 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	FIGR_HELOC	HYPE
Max drawdown (400d)	-5.5%	-18.9%
Risk-adjusted return (90d)	0.05	0.58

Relative strength over 90 days: HYPE outperformed FIGR_HELOC by 29.0% — measured on the FIGR_HELOC/HYPE ratio, so it holds regardless of market direction.

Figure Heloc →Hyperliquid →