Toshi (TOSHI) is 1932.2× the size of Light Speed Cat (LSCAT) by market capitalisation. Their daily returns move closely together (correlation 0.77 across 22 shared trading days). TOSHI has been the more volatile of the two, at 82% annualised against LSCAT's 52%.
LSCATTOSHI
0.77over 22 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 | LSCAT | TOSHI |
|---|---|---|
| Max drawdown (400d) | -44.9% | -24.2% |
| Risk-adjusted return (90d) | 0.10 | -0.08 |
Relative strength over 90 days: LSCAT outperformed TOSHI by 16.3% — measured on the LSCAT/TOSHI ratio, so it holds regardless of market direction.