CGC vs EZGO: Correlation
Measured on weekly returns over the past three years, Canopy Growth Corporation (CGC) and EZGO Technologies Ltd. (EZGO) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CGC and EZGO?
Over the past 3 years, CGC and EZGO moved with a correlation of -0.22, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.17) than the 3-year average (-0.22). Over 5 years the correlation is -0.12, and the annualized covariance of weekly returns is -3476.2 %².
Among the 17 assets we track against CGC, EZGO sits near the bottom by co-movement, at rank #15. Correlation aside, the last 12 months split them widely, with CGC ahead by 66.8 points (-33.1% versus -99.9%).
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 EZGO: side by side
| CGC (Canopy Growth Corporation) | EZGO (EZGO Technologies Ltd.) | |
|---|---|---|
| 1-year return | -33.1% | -99.9% |
| 5-year return | -99.4% | -100.0% |
| Volatility (ann.) | 133.1% | 118.7% |
| Beta vs S&P 500 | 1.82 | 1.16 |
| Max drawdown (3Y) | -95.1% | -100.0% |
| Market cap | $0.5B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CGC | EZGO |
|---|---|---|
| 2022 | -73.5% | -55.2% |
| 2023 | -77.9% | -82.8% |
| 2024 | -46.4% | -82.2% |
| 2025 | -58.4% | -90.3% |
| 2026 | -11.4% | -99.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CGC and EZGO good diversifiers for each other?
Yes. With a correlation of -0.22, CGC and EZGO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CGC and EZGO?
As of 2026-08-27, the correlation of weekly returns between CGC and EZGO is -0.22 over 3 years, 0.17 over 1 year and -0.12 over 5 years.
Is EZGO a good diversifier for CGC?
Yes. With a correlation of -0.22, CGC and EZGO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 mean?
On the −1 to +1 scale, -0.22 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.
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Related comparisons
Hubs: CGC correlations · EZGO correlations
