Nest Alpha Vault vs Figure Heloc

Figure Heloc (FIGR_HELOC) is 2212.2× the size of Nest Alpha Vault (NALPHA) by market capitalisation. Over the past 30 days, FIGR_HELOC is ahead by 1.8 percentage points (NALPHA +0.9% against FIGR_HELOC +2.7%). Their daily returns move barely together (correlation 0.19 across 21 shared trading days). FIGR_HELOC has been the more volatile of the two, at 52% annualised against NALPHA's 3%.

Correlation: 0.19
Size ratio: 1 : 2212.2
Ahead over 30 days: FIGR_HELOC

Nest Alpha VaultNALPHA

$1.1300

24h: +0.04%
Market cap: $12.16M
Volume 24h: —
Volatility (ann.): 3%

Figure HelocFIGR_HELOC

$1.0290

24h: -0.88%
Market cap: $26.89B
Volume 24h: $479.44M
Volatility (ann.): 52%

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

Performance

NALPHAFIGR_HELOC

7 days+0.00%+0.19%FIGR_HELOC
30 days+0.90%+2.69%FIGR_HELOC

Correlation

0.19over 21 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: 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	NALPHA	FIGR_HELOC
Max drawdown (400d)	0.0%	-5.5%
Risk-adjusted return (90d)	0.29	0.05

Relative strength over 90 days: NALPHA outperformed FIGR_HELOC by 5.7% — measured on the NALPHA/FIGR_HELOC ratio, so it holds regardless of market direction.

Nest Alpha Vault →Figure Heloc →