Figure Heloc (FIGR_HELOC) is 2.4× the size of Rain (RAIN) by market capitalisation. Over the past 30 days, FIGR_HELOC is ahead by 1.0 percentage points (FIGR_HELOC +2.2% against RAIN +1.2%). Their daily returns move barely in opposite directions (correlation -0.06 across 29 shared trading days). RAIN has been the more volatile of the two, at 130% annualised against FIGR_HELOC's 54%.
| Period | FIGR_HELOC | RAIN | Ahead |
|---|---|---|---|
| 7 days | -1.63% | -20.19% | FIGR_HELOC |
| 30 days | +2.19% | +1.17% | FIGR_HELOC |
| Metric | FIGR_HELOC | RAIN |
|---|---|---|
| Max drawdown (400d) | -5.2% | -32.0% |
| Risk-adjusted return (90d) | 0.04 | 0.01 |
Relative strength over 90 days: FIGR_HELOC outperformed RAIN by 1.5% — measured on the FIGR_HELOC/RAIN 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.