OpenAI (Tessera Pre-IPO) vs Figure Heloc

Figure Heloc (FIGR_HELOC) is 27167.4× the size of OpenAI (Tessera Pre-IPO) (TOPENAI) by market capitalisation. Over the past 30 days, TOPENAI is ahead by 63.9 percentage points (TOPENAI +66.5% against FIGR_HELOC +2.7%). Their daily returns move barely together (correlation 0.15 across 25 shared trading days). TOPENAI has been the more volatile of the two, at 254% annualised against FIGR_HELOC's 52%.

Correlation: 0.15
Size ratio: 1 : 27167.4
Ahead over 30 days: TOPENAI

OpenAI (Tessera Pre-IPO)TOPENAI

$1,443.93

24h: -2.80%
Market cap: $988,038
Volume 24h: $102,919
Volatility (ann.): 254%

Figure HelocFIGR_HELOC

$1.0300

24h: -0.24%
Market cap: $26.84B
Volume 24h: $481.07M
Volatility (ann.): 52%

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

Performance

TOPENAIFIGR_HELOC

7 days-11.90%+0.19%FIGR_HELOC
30 days+66.54%+2.69%TOPENAI

Correlation

0.15over 25 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.1590d: 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	TOPENAI	FIGR_HELOC
Max drawdown (400d)	-34.2%	-5.5%
Risk-adjusted return (90d)	0.29	0.05

Relative strength over 90 days: TOPENAI outperformed FIGR_HELOC by 71.7% — measured on the TOPENAI/FIGR_HELOC ratio, so it holds regardless of market direction.

OpenAI (Tessera Pre-IPO) →Figure Heloc →