Toshi (TOSHI) is 1677.5× the size of Broak on Base (BROAK) by market capitalisation. Their daily returns move closely together (correlation 0.70 across 20 shared trading days). BROAK has been the more volatile of the two, at 118% annualised against TOSHI's 82%.
BROAKTOSHI
0.70over 20 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 | BROAK | TOSHI |
|---|---|---|
| Max drawdown (400d) | -89.6% | -24.2% |
| Risk-adjusted return (90d) | -0.57 | -0.08 |
Relative strength over 90 days: TOSHI outperformed BROAK by 13.8% — measured on the BROAK/TOSHI ratio, so it holds regardless of market direction.