INHD vs TOON: Correlation
How closely do Inno Holdings Inc. (INHD) and Kartoon Studios, Inc. (TOON) trade together? Their weekly returns over three years give a correlation of 0.46, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INHD and TOON?
On 3 years of weekly data the INHD/TOON correlation comes out at 0.46, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.69 versus 0.46 over 3 years. The 5-year figure is n/a, and annualized covariance runs at 71266.9 %².
Within INHD's tracked universe of 25 assets, TOON comes in at #6 by 3-year correlation. The last year tells two different stories: TOON led by 85.4 percentage points, -99.8% for INHD against -14.4% for TOON. Note the risk asymmetry: INHD runs 31.7 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.
INHD vs TOON: side by side
| INHD (Inno Holdings Inc.) | TOON (Kartoon Studios, Inc.) | |
|---|---|---|
| 1-year return | -99.8% | -14.4% |
| 5-year return | n/a | -96.0% |
| Volatility (ann.) | 2238.2% | 70.7% |
| Beta vs S&P 500 | -0.52 | 1.54 |
| Max drawdown (3Y) | -100.0% | -73.2% |
| Market cap | – | – |
| P/E (trailing) | 0.2 | 8.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | INHD | TOON |
|---|---|---|
| 2022 | – | -55.7% |
| 2023 | – | -70.1% |
| 2024 | -67.3% | -57.6% |
| 2025 | -99.0% | +22.0% |
| 2026 | -73.7% | -10.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INHD and TOON good diversifiers for each other?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between INHD and TOON?
As of 2026-08-27, the correlation of weekly returns between INHD and TOON is 0.46 over 3 years, 0.69 over 1 year and n/a over 5 years.
Is TOON a good diversifier for INHD?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.46 mean?
A reading of 0.46 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/inhd-vs-toon.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/inhd-vs-toon/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: INHD correlations · TOON correlations
