Toshi (TOSHI) is 2713.1× the size of Stand With Crypto Fund (SWC) by market capitalisation. Their daily returns move loosely together (correlation 0.42 across 28 shared trading days). SWC has been the more volatile of the two, at 190% annualised against TOSHI's 83%.
SWCTOSHI
0.42over 28 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 | SWC | TOSHI |
|---|---|---|
| Max drawdown (400d) | -63.9% | -25.5% |
| Risk-adjusted return (90d) | 0.20 | -0.16 |
Relative strength over 90 days: SWC outperformed TOSHI by 26.0% — measured on the SWC/TOSHI ratio, so it holds regardless of market direction.