BLND vs TOST: Correlation
Blend Labs, Inc. (BLND) and Toast, Inc. (TOST) show a moderate relationship: their 3-year correlation of weekly returns is 0.49.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BLND and TOST?
On 3 years of weekly data the BLND/TOST correlation comes out at 0.49, moderate. Little has changed lately, as the 1-year reading of 0.43 lands near the 3-year figure. The 5-year figure is 0.39, and annualized covariance runs at 1756.0 %².
By 3-year correlation, TOST places #5 of the 12 assets tracked against BLND. Their recent paths diverged sharply: over the last 12 months TOST outperformed by 37.4 percentage points (-57.2% for BLND against -19.8% for TOST). Note the risk asymmetry: BLND runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
BLND vs TOST: side by side
| BLND (Blend Labs, Inc.) | TOST (Toast, Inc.) | |
|---|---|---|
| 1-year return | -57.2% | -19.8% |
| 5-year return | -90.5% | -43.7% |
| Volatility (ann.) | 75.5% | 47.1% |
| Beta vs S&P 500 | 1.32 | 1.36 |
| Max drawdown (3Y) | -74.2% | -54.7% |
| Market cap | $0.4B | $20.3B |
| P/E (trailing) | – | 46.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BLND | TOST |
|---|---|---|
| 2022 | -80.4% | -48.1% |
| 2023 | +77.1% | +1.3% |
| 2024 | +65.1% | +99.6% |
| 2025 | -27.8% | -2.6% |
| 2026 | -49.3% | -1.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BLND and TOST good diversifiers for each other?
Reasonably. At 0.49, BLND and TOST keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BLND and TOST?
The BLND/TOST correlation stands at 0.49 on a 3-year window (1 year: 0.43, 5 years: 0.39), computed from weekly returns as of 2026-08-27.
Is TOST a good diversifier for BLND?
Reasonably. At 0.49, BLND and TOST keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.49 mean?
A reading of 0.49 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/blnd-vs-tost.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/blnd-vs-tost/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BLND correlations · TOST correlations
