Figure Heloc (FIGR_HELOC) is 2962.9× the size of iShares MSCI South Korea ETF (bStocks Tokenized Stock) (EWYB) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.24 across 56 shared trading days). Both have run at a similar volatility, around 55% annualised.
$154.5800
EWYBFIGR_HELOC
-0.24over 56 shared trading days
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.
| Metric | EWYB | FIGR_HELOC |
|---|---|---|
| Max drawdown (400d) | -31.3% | -5.5% |
| Risk-adjusted return (90d) | -0.15 | 0.05 |
Relative strength over 90 days: FIGR_HELOC outperformed EWYB by 17.5% — measured on the EWYB/FIGR_HELOC ratio, so it holds regardless of market direction.