GraniteShares 2X Long MRVL ETF (bStocks Tokenized Stock) vs Figure Heloc

Figure Heloc (FIGR_HELOC) is 24251.6× the size of GraniteShares 2X Long MRVL ETF (bStocks Tokenized Stock) (MVLLB) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.06 across 56 shared trading days). MVLLB has been the more volatile of the two, at 184% annualised against FIGR_HELOC's 52%.

Correlation: -0.06
Size ratio: 1 : 24251.6

GraniteShares 2X Long MRVL ETF (bStocks Tokenized Stock)MVLLB

$13.9300

24h: -2.18%
Market cap: $1.11M
Volume 24h: $328,478
Volatility (ann.): 184%

Figure HelocFIGR_HELOC

$1.0300

24h: -0.19%
Market cap: $26.85B
Volume 24h: $481.28M
Volatility (ann.): 52%

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

Performance

MVLLBFIGR_HELOC

7 days-53.39%+0.19%FIGR_HELOC
30 days-65.13%+2.69%FIGR_HELOC
90 days-45.82%——

Correlation

-0.06over 56 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.0990d: 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	MVLLB	FIGR_HELOC
Max drawdown (400d)	-67.8%	-5.5%
Risk-adjusted return (90d)	-0.28	0.05

Relative strength over 90 days: FIGR_HELOC outperformed MVLLB by 57.4% — measured on the MVLLB/FIGR_HELOC ratio, so it holds regardless of market direction.

GraniteShares 2X Long MRVL ETF (bStocks Tokenized Stock) →Figure Heloc →