LSF vs TONX: Correlation
Measured on weekly returns over the past three years, Laird Superfood, Inc. (LSF) and TON Strategy Company (TONX) carry a correlation of 0.52, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LSF and TONX?
Across a 3-year window, the weekly returns of LSF and TONX correlate at 0.52, moderate. The link has loosened recently: the 1-year correlation (0.10) runs below the 3-year figure (0.52). Stretching to 5 years gives 0.46, with an annualized covariance of 17425.3 %².
In LSF's tracked universe of 14 assets, TONX sits right near the top at #1. The last year tells two different stories: LSF led by 44.6 percentage points, -32.6% for LSF against -77.2% for TONX.
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.
LSF vs TONX: side by side
| LSF (Laird Superfood, Inc.) | TONX (TON Strategy Company) | |
|---|---|---|
| 1-year return | -32.6% | -77.2% |
| 5-year return | -79.5% | -100.0% |
| Volatility (ann.) | 183.4% | 182.6% |
| Beta vs S&P 500 | 1.17 | 1.57 |
| Max drawdown (3Y) | -79.9% | -99.7% |
| Market cap | – | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LSF | TONX |
|---|---|---|
| 2022 | -93.6% | -86.8% |
| 2023 | +8.3% | -97.4% |
| 2024 | +765.9% | -81.0% |
| 2025 | -71.8% | -69.6% |
| 2026 | +74.8% | +71.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LSF and TONX good diversifiers for each other?
Only partially. A correlation of 0.52 means LSF and TONX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between LSF and TONX?
Using weekly returns as of 2026-08-27: 0.52 over 3 years, with 0.10 over the last year and 0.46 over 5 years.
Is TONX a good diversifier for LSF?
Only partially. A correlation of 0.52 means LSF and TONX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.52 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/lsf-vs-tonx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/lsf-vs-tonx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: LSF correlations · TONX correlations
