VanEck Semiconductor ETF (bStocks Tokenized Stock) vs Figure Heloc

Figure Heloc (FIGR_HELOC) is 19453.8× the size of VanEck Semiconductor ETF (bStocks Tokenized Stock) (SMHB) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.10 across 56 shared trading days). FIGR_HELOC has been the more volatile of the two, at 52% annualised against SMHB's 38%.

Correlation: -0.10
Size ratio: 1 : 19453.8

VanEck Semiconductor ETF (bStocks Tokenized Stock)SMHB

$508.2000

24h: +0.07%
Market cap: $1.38M
Volume 24h: $716,601
Volatility (ann.): 38%

Figure HelocFIGR_HELOC

$1.0290

24h: -0.20%
Market cap: $26.89B
Volume 24h: $479.58M
Volatility (ann.): 52%

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

Performance

SMHBFIGR_HELOC

7 days-6.56%+0.19%FIGR_HELOC
30 days-17.63%+2.69%FIGR_HELOC
90 days-8.73%——

Correlation

-0.10over 56 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0790d: 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	SMHB	FIGR_HELOC
Max drawdown (400d)	-19.1%	-5.5%
Risk-adjusted return (90d)	-0.26	0.05

Relative strength over 90 days: FIGR_HELOC outperformed SMHB by 14.3% — measured on the SMHB/FIGR_HELOC ratio, so it holds regardless of market direction.

VanEck Semiconductor ETF (bStocks Tokenized Stock) →Figure Heloc →