CGC vs CRON: Correlation
Measured on weekly returns over the past three years, Canopy Growth Corporation (CGC) and Cronos Group Inc. - Common Share (CRON) carry a correlation of 0.63, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CGC and CRON?
On 3 years of weekly data the CGC/CRON correlation comes out at 0.63, strong. Lately the two have moved closer together, with the 1-year correlation at 0.82 versus 0.63 over 3 years. The 5-year figure is 0.61, and annualized covariance runs at 3507.5 %².
Few assets follow CGC as closely as CRON, which ranks #2 of 17 tracked partners. The last year tells two different stories: CRON led by 65.5 percentage points, -33.1% for CGC against +32.4% for CRON. One caveat on sizing: CGC is 3.2 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
CGC vs CRON: side by side
| CGC (Canopy Growth Corporation) | CRON (Cronos Group Inc. - Common Share) | |
|---|---|---|
| 1-year return | -33.1% | +32.4% |
| 5-year return | -99.4% | -47.1% |
| Volatility (ann.) | 133.1% | 41.8% |
| Beta vs S&P 500 | 1.82 | 0.75 |
| Max drawdown (3Y) | -95.1% | -46.4% |
| Market cap | $0.5B | $1.2B |
| P/E (trailing) | – | 18.8 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CGC | CRON |
|---|---|---|
| 2022 | -73.5% | -35.2% |
| 2023 | -77.9% | -17.7% |
| 2024 | -46.4% | -3.3% |
| 2025 | -58.4% | +30.2% |
| 2026 | -11.4% | +28.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CGC and CRON good diversifiers for each other?
Somewhat, no more. With 0.63 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CGC and CRON?
As of 2026-08-27, the correlation of weekly returns between CGC and CRON is 0.63 over 3 years, 0.82 over 1 year and 0.61 over 5 years.
Is CRON a good diversifier for CGC?
Somewhat, no more. With 0.63 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.63 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/cgc-vs-cron.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cgc-vs-cron/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CGC correlations · CRON correlations
