BEAT vs TLRY: Correlation
Heartbeam, Inc. (BEAT) and Tilray Brands, Inc. (TLRY) show a moderate relationship: their 3-year correlation of weekly returns is 0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BEAT and TLRY?
Across a 3-year window, the weekly returns of BEAT and TLRY correlate at 0.48, moderate. The link has tightened recently: the 1-year correlation (0.75) runs above the 3-year figure (0.48). Stretching to 5 years gives 0.36, with an annualized covariance of 6413.5 %².
Within BEAT's tracked universe of 16 assets, TLRY comes in at #4 by 3-year correlation. On 12-month performance BEAT holds a 7.8-point edge, -58.8% against -66.6%. Risk is not evenly split, since BEAT carries 1.8 times the volatility of the other side.
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.
BEAT vs TLRY: side by side
| BEAT (Heartbeam, Inc.) | TLRY (Tilray Brands, Inc.) | |
|---|---|---|
| 1-year return | -58.8% | -66.6% |
| 5-year return | -89.6% | -96.5% |
| Volatility (ann.) | 152.8% | 86.6% |
| Beta vs S&P 500 | 0.65 | 1.37 |
| Max drawdown (3Y) | -86.1% | -89.1% |
| Market cap | – | $0.6B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BEAT | TLRY |
|---|---|---|
| 2022 | +58.4% | -61.7% |
| 2023 | -51.8% | -14.5% |
| 2024 | -2.1% | -42.2% |
| 2025 | +4.3% | -32.1% |
| 2026 | -79.8% | -49.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BEAT and TLRY good diversifiers for each other?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BEAT and TLRY?
As of 2026-08-27, the correlation of weekly returns between BEAT and TLRY is 0.48 over 3 years, 0.75 over 1 year and 0.36 over 5 years.
Is TLRY a good diversifier for BEAT?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.48 mean?
A reading of 0.48 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/beat-vs-tlry.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/beat-vs-tlry/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BEAT correlations · TLRY correlations
