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Anyone can post a return. The score says what they risked to get it — and it's the reason this place works. Here's exactly how it's built, and what it deliberately doesn't measure.
+300% at risk 7 and +12% at risk 3 are not the same achievement, and a feed that shows only the first number rewards recklessness.
So on Firal the two travel together, everywhere, without exception. It's the honesty mechanic the whole platform is built on: flexing the multiple only counts with the risk attached.
A return without its risk is half a sentence.
Volatility measures how much a price swings around, in either direction. A savings account barely moves. A memecoin can halve before lunch.
Technically it's the standard deviation of daily returns, scaled to a year. In plain terms: how far from "normal" a typical day lands.
Two portfolios can post the identical return with completely different volatility — same destination, very different sleep quality along the way.
Volatility is the size of the swings, not their direction. High volatility means big moves up as well as down.
Firal uses the scale European funds already use — the PRIIPs SRI, formerly the UCITS SRRI. Your portfolio's annualised volatility is blended across your holdings, then dropped into one of seven bands.
The cut-offs are 0.5%, 2%, 5%, 10%, 15% and 25%. Under 0.5% is a 1; over 25% is a 7.
In practice: a global bond fund lands around 1–2, a diversified world ETF around 3, single big tech stocks around 5–6, and crypto at the top.
It's an SRI-style score applied to a whole mixed portfolio — not a regulatory SRI, which only ever applies to a single regulated product.
Volatility alone can be fooled. A portfolio holding one calm stock looks calm right up until that single company has a bad day.
So Firal adds +1 to the score (capped at 7) when any single company is 40% or more of the portfolio, or the largest three together reach 50%.
Funds and bonds are exempt from the check — a world ETF at 80% isn't concentration, it's already hundreds of companies in a trench coat.
The maths notices what the vibes ignore: a few positions dominating your outcome is a real risk, even when they're quiet.
Crypto gets asset-level minimums no calm patch can undercut: Bitcoin and Ethereum can't score below 5, other alts can't go below 6, and memecoins are always 7.
The reason is that volatility measures wobble, not the chance of going to zero. A memecoin can trade quietly for months and still be one rug-pull from nothing — the floor prices in what the standard deviation can't see.
Floors beat bands. A quiet quarter never turns a memecoin into a safe asset.
It is not a quality rating and not a prediction. A 6 isn't "bad" and a 2 isn't "good" — a 20-year-old saving for retirement and a 60-year-old drawing an income should rationally sit in different places.
It measures how much the value swings and how concentrated you are. It does not measure whether an asset is a fraud, whether a company is about to be disrupted, whether you can stomach a drawdown, or what happens next.
It also needs history: a brand-new portfolio, or one with too little price data, shows "— / 7" rather than a number invented to fill the gap.
The score is a measurement, not a verdict — and never advice about what you personally should hold.
Education, not advice. No rewards, no streaks — just fewer avoidable mistakes.