Figure Heloc vs Tether Gold

Figure Heloc (FIGR_HELOC) is 8.3× the size of Tether Gold (XAUT) by market capitalisation. Their daily returns move barely together (correlation 0.08 across 58 shared trading days). FIGR_HELOC has been the more volatile of the two, at 51% annualised against XAUT's 24%.

Correlation: 0.08
Size ratio: 8.3×

Figure HelocFIGR_HELOC

$1.0350

24h: -1.01%
Market cap: $27.18B
Volume 24h: $504.49M
Volatility (ann.): 51%

Tether GoldXAUT

$4,067.25

24h: -1.11%
Market cap: $3.28B
Volume 24h: $328.53M
Volatility (ann.): 24%

FIGR_HELOC 89.2%Share of the two combined market caps10.8% XAUT

Performance

FIGR_HELOCXAUT

7 days+0.39%+1.67%XAUT
30 days-1.15%-2.25%FIGR_HELOC
90 days—-5.95%—

Correlation

0.08over 58 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.2390d: 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	XAUT
Max drawdown (400d)	-5.5%	-19.4%
Risk-adjusted return (90d)	0.05	-0.27

Relative strength over 90 days: FIGR_HELOC outperformed XAUT by 10.8% — measured on the FIGR_HELOC/XAUT ratio, so it holds regardless of market direction.

Figure Heloc →Tether Gold →