Midas mBASIS vs Figure Heloc

Figure Heloc (FIGR_HELOC) is 5134.6× the size of Midas mBASIS (MBASIS) by market capitalisation. Over the past 30 days, FIGR_HELOC is ahead by 13.7 percentage points (MBASIS -11.0% against FIGR_HELOC +2.7%). Their daily returns move barely in opposite directions (correlation -0.34 across 26 shared trading days). MBASIS has been the more volatile of the two, at 153% annualised against FIGR_HELOC's 52%.

Correlation: -0.34
Size ratio: 1 : 5134.6
Ahead over 30 days: FIGR_HELOC

Midas mBASISMBASIS

$1.2200

24h: +0.00%
Market cap: $5.23M
Volume 24h: —
Volatility (ann.): 153%

Figure HelocFIGR_HELOC

$1.0300

24h: -0.83%
Market cap: $26.83B
Volume 24h: $479.75M
Volatility (ann.): 52%

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

Performance

MBASISFIGR_HELOC

7 days-11.72%+0.19%FIGR_HELOC
30 days-10.99%+2.69%FIGR_HELOC

Correlation

-0.34over 26 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.3490d: 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	MBASIS	FIGR_HELOC
Max drawdown (400d)	-27.9%	-5.5%
Risk-adjusted return (90d)	-0.07	0.05

Relative strength over 90 days: FIGR_HELOC outperformed MBASIS by 9.3% — measured on the MBASIS/FIGR_HELOC ratio, so it holds regardless of market direction.

Midas mBASIS →Figure Heloc →