SpaceX (Republic Pre-IPO) vs Figure Heloc

Figure Heloc (FIGR_HELOC) is 2090.3× the size of SpaceX (Republic Pre-IPO) (PRESPCX) by market capitalisation. Over the past 30 days, PRESPCX is ahead by 2.9 percentage points (PRESPCX +5.6% against FIGR_HELOC +2.7%). Their daily returns move barely together (correlation 0.28 across 21 shared trading days). FIGR_HELOC has been the more volatile of the two, at 52% annualised against PRESPCX's 45%.

Correlation: 0.28
Size ratio: 1 : 2090.3
Ahead over 30 days: PRESPCX

SpaceX (Republic Pre-IPO)PRESPCX

$135.2800

24h: -1.04%
Market cap: $12.84M
Volume 24h: $538,906
Volatility (ann.): 45%

Figure HelocFIGR_HELOC

$1.0300

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

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

Performance

PRESPCXFIGR_HELOC

7 days-2.23%+0.19%FIGR_HELOC
30 days+5.63%+2.69%PRESPCX

Correlation

0.28over 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	PRESPCX	FIGR_HELOC
Max drawdown (400d)	-6.6%	-5.5%
Risk-adjusted return (90d)	0.12	0.05

Relative strength over 90 days: PRESPCX outperformed FIGR_HELOC by 10.7% — measured on the PRESPCX/FIGR_HELOC ratio, so it holds regardless of market direction.

SpaceX (Republic Pre-IPO) →Figure Heloc →