GoPro (Backpack Securities) vs Figure Heloc

Figure Heloc (FIGR_HELOC) is 199189.3× the size of GoPro (Backpack Securities) (GPRO) by market capitalisation. Over the past 30 days, FIGR_HELOC is ahead by 36.1 percentage points (GPRO -33.1% against FIGR_HELOC +3.0%). Their daily returns move barely in opposite directions (correlation -0.12 across 25 shared trading days). GPRO has been the more volatile of the two, at 113% annualised against FIGR_HELOC's 52%.

Correlation: -0.12
Size ratio: 1 : 199189.3
Ahead over 30 days: FIGR_HELOC

GoPro (Backpack Securities)GPRO

$0.949868

24h: -1.52%
Market cap: $137,150
Volume 24h: $38,988
Volatility (ann.): 113%

Figure HelocFIGR_HELOC

$1.0460

24h: +1.52%
Market cap: $27.32B
Volume 24h: $22.09M
Volatility (ann.): 52%

GPRO 0.0%Share of the two combined market caps100.0% FIGR_HELOC

Performance

GPROFIGR_HELOC

7 days-8.88%-0.10%FIGR_HELOC
30 days-33.13%+3.00%FIGR_HELOC

Correlation

-0.12over 25 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.1290d: 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	GPRO	FIGR_HELOC
Max drawdown (400d)	-46.3%	-5.5%
Risk-adjusted return (90d)	-0.37	0.05

Relative strength over 90 days: FIGR_HELOC outperformed GPRO by 42.7% — measured on the GPRO/FIGR_HELOC ratio, so it holds regardless of market direction.

GoPro (Backpack Securities) →Figure Heloc →