Crude Cat (CRUDECAT) and Toshi (TOSHI) compared side by side. Over the past 30 days, TOSHI is ahead by 89.8 percentage points (CRUDECAT -98.1% against TOSHI -8.3%). Their daily returns move barely together (correlation 0.33 across 31 shared trading days). CRUDECAT has been the more volatile of the two, at 640% annualised against TOSHI's 83%.
CRUDECATTOSHI
0.33over 31 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 | CRUDECAT | TOSHI |
|---|---|---|
| Max drawdown (400d) | -98.8% | -24.2% |
| Risk-adjusted return (90d) | -0.15 | -0.09 |
Relative strength over 90 days: TOSHI outperformed CRUDECAT by 96.4% — measured on the CRUDECAT/TOSHI ratio, so it holds regardless of market direction.