SP500 xStock vs Figure Heloc

Figure Heloc (FIGR_HELOC) is 372.1× the size of SP500 xStock (SPYX) by market capitalisation. Over the past 30 days, FIGR_HELOC is ahead by 3.8 percentage points (SPYX -1.1% against FIGR_HELOC +2.7%). Their daily returns move barely together (correlation 0.09 across 51 shared trading days). FIGR_HELOC has been the more volatile of the two, at 52% annualised against SPYX's 11%.

Correlation: 0.09
Size ratio: 1 : 372.1
Ahead over 30 days: FIGR_HELOC

SP500 xStockSPYX

$773.2300

24h: +1.78%
Market cap: $72.29M
Volume 24h: $9.69M
Volatility (ann.): 11%

Figure HelocFIGR_HELOC

$1.0300

24h: -0.28%
Market cap: $26.90B
Volume 24h: $434.17M
Volatility (ann.): 52%

SPYX 0.3%Share of the two combined market caps99.7% FIGR_HELOC

Performance

SPYXFIGR_HELOC

7 days-1.60%+0.19%FIGR_HELOC
30 days-1.10%+2.69%FIGR_HELOC

Correlation

0.09over 51 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.2190d: 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	SPYX	FIGR_HELOC
Max drawdown (400d)	-2.7%	-5.5%
Risk-adjusted return (90d)	-0.14	0.05

Relative strength over 90 days: FIGR_HELOC outperformed SPYX by 4.1% — measured on the SPYX/FIGR_HELOC ratio, so it holds regardless of market direction.

SP500 xStock →Figure Heloc →