OpenAI (Republic Pre-IPO) vs Figure Heloc

Figure Heloc (FIGR_HELOC) is 1146.2× the size of OpenAI (Republic Pre-IPO) (PREOPAI) by market capitalisation. Over the past 30 days, PREOPAI is ahead by 3.8 percentage points (PREOPAI +6.5% against FIGR_HELOC +2.7%). Their daily returns move barely in opposite directions (correlation -0.06 across 26 shared trading days). Both have run at a similar volatility, around 53% annualised.

Correlation: -0.06
Size ratio: 1 : 1146.2
Ahead over 30 days: PREOPAI

OpenAI (Republic Pre-IPO)PREOPAI

$805.5200

24h: -1.36%
Market cap: $23.43M
Volume 24h: $113,299
Volatility (ann.): 53%

Figure HelocFIGR_HELOC

$1.0300

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

PREOPAI 0.1%Share of the two combined market caps99.9% FIGR_HELOC

Performance

PREOPAIFIGR_HELOC

7 days-8.46%+0.19%FIGR_HELOC
30 days+6.50%+2.69%PREOPAI

Correlation

-0.06over 26 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0690d: 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	PREOPAI	FIGR_HELOC
Max drawdown (400d)	-16.7%	-5.5%
Risk-adjusted return (90d)	0.14	0.05

Relative strength over 90 days: PREOPAI outperformed FIGR_HELOC by 4.3% — measured on the PREOPAI/FIGR_HELOC ratio, so it holds regardless of market direction.

OpenAI (Republic Pre-IPO) →Figure Heloc →