Toshi (TOSHI) is 1307.3× the size of Base Pro Shops (BPS) by market capitalisation. Their daily returns move loosely together (correlation 0.45 across 30 shared trading days). BPS has been the more volatile of the two, at 152% annualised against TOSHI's 83%.
BPSTOSHI
0.45over 30 shared trading days
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.
| Metric | BPS | TOSHI |
|---|---|---|
| Max drawdown (400d) | -67.9% | -25.5% |
| Risk-adjusted return (90d) | -0.10 | -0.16 |
Relative strength over 90 days: TOSHI outperformed BPS by 14.7% — measured on the BPS/TOSHI ratio, so it holds regardless of market direction.