CGC vs IDN: Correlation
Measured on weekly returns over the past three years, Canopy Growth Corporation (CGC) and Intellicheck, Inc. (IDN) carry a correlation of 0.39, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CGC and IDN?
Over the past 3 years, CGC and IDN moved with a correlation of 0.39, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.15 versus 0.39 over 3 years. Over 5 years the correlation is 0.30, and the annualized covariance of weekly returns is 4417.2 %².
Within CGC's tracked universe of 17 assets, IDN comes in at #8 by 3-year correlation. Over the last 12 months CGC came out ahead by 13.5 percentage points (-33.1% against -46.6%). One caveat on sizing: CGC is 1.6 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 IDN: side by side
| CGC (Canopy Growth Corporation) | IDN (Intellicheck, Inc.) | |
|---|---|---|
| 1-year return | -33.1% | -46.6% |
| 5-year return | -99.4% | -67.2% |
| Volatility (ann.) | 133.1% | 85.3% |
| Beta vs S&P 500 | 1.82 | 1.75 |
| Max drawdown (3Y) | -95.1% | -68.7% |
| Market cap | $0.5B | $0.1B |
| P/E (trailing) | – | 17.8 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CGC | IDN |
|---|---|---|
| 2022 | -73.5% | -56.7% |
| 2023 | -77.9% | -5.0% |
| 2024 | -46.4% | +47.4% |
| 2025 | -58.4% | +138.6% |
| 2026 | -11.4% | -57.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CGC and IDN good diversifiers for each other?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CGC and IDN?
As of 2026-08-27, the correlation of weekly returns between CGC and IDN is 0.39 over 3 years, 0.15 over 1 year and 0.30 over 5 years.
Is IDN a good diversifier for CGC?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.39 mean?
A reading of 0.39 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/cgc-vs-idn.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cgc-vs-idn/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CGC correlations · IDN correlations
