BSTZ vs TOON: Correlation
Measured on weekly returns over the past three years, BlackRock Science and Technology Term Trust (BSTZ) and Kartoon Studios, Inc. (TOON) carry a correlation of 0.40, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BSTZ and TOON?
Over the past 3 years, BSTZ and TOON moved with a correlation of 0.40, which is moderate. The relationship has been stable: the 1-year correlation (0.40) sits close to the 3-year figure. Over 5 years the correlation is 0.38, and the annualized covariance of weekly returns is 664.0 %².
Among the 21 assets we track against BSTZ, TOON sits near the bottom by co-movement, at rank #17. Correlation aside, the last 12 months split them widely, with BSTZ ahead by 71.8 points (+57.4% versus -14.4%). Note the risk asymmetry: TOON runs 3.0 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.
BSTZ vs TOON: side by side
| BSTZ (BlackRock Science and Technology Term Trust) | TOON (Kartoon Studios, Inc.) | |
|---|---|---|
| 1-year return | +57.4% | -14.4% |
| 5-year return | +31.6% | -96.0% |
| Volatility (ann.) | 23.7% | 70.7% |
| Beta vs S&P 500 | 1.19 | 1.54 |
| Max drawdown (3Y) | -25.3% | -73.2% |
| Market cap | $2.1B | – |
| P/E (trailing) | 6.7 | 8.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BSTZ | TOON |
|---|---|---|
| 2022 | -55.3% | -55.7% |
| 2023 | +18.7% | -70.1% |
| 2024 | +37.5% | -57.6% |
| 2025 | +25.1% | +22.0% |
| 2026 | +44.7% | -10.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BSTZ and TOON good diversifiers for each other?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BSTZ and TOON?
Using weekly returns as of 2026-08-27: 0.40 over 3 years, with 0.40 over the last year and 0.38 over 5 years.
Is TOON a good diversifier for BSTZ?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bstz-vs-toon.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bstz-vs-toon/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BSTZ correlations · TOON correlations
