NULL MATRIX vs Toshi

Toshi (TOSHI) is 1961.5× the size of NULL MATRIX (NULL) by market capitalisation. Over the past 30 days, NULL is ahead by 10.3 percentage points (NULL -2.7% against TOSHI -13.1%). Their daily returns move barely together (correlation 0.20 across 21 shared trading days). Both have run at a similar volatility, around 87% annualised.

Correlation: 0.20
Size ratio: 1 : 1961.5
Ahead over 30 days: NULL

NULL MATRIXNULL

$2.5200

24h: -7.14%
Market cap: $21,268
Volume 24h: $37
Volatility (ann.): 91%

ToshiTOSHI

$9.915e-5

24h: -6.13%
Market cap: $41.72M
Volume 24h: $2.86M
Volatility (ann.): 83%

NULL 0.1%Share of the two combined market caps99.9% TOSHI

Performance

NULLTOSHI

7 days-4.98%-5.20%NULL
30 days-2.75%-13.09%NULL

Correlation

0.20over 21 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: insufficient data1y: insufficient data

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.

Risk & extremes

Metric	NULL	TOSHI
Max drawdown (400d)	-20.8%	-25.5%
Risk-adjusted return (90d)	-0.05	-0.16

Relative strength over 90 days: NULL outperformed TOSHI by 5.3% — measured on the NULL/TOSHI ratio, so it holds regardless of market direction.

NULL MATRIX →Toshi →