CGC vs OGI: Correlation
How closely do Canopy Growth Corporation (CGC) and Organigram Global Inc. (OGI) trade together? Their weekly returns over three years give a correlation of 0.49, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CGC and OGI?
Across a 3-year window, the weekly returns of CGC and OGI correlate at 0.49, moderate. Little has changed lately, as the 1-year reading of 0.55 lands near the 3-year figure. Stretching to 5 years gives 0.53, with an annualized covariance of 4214.4 %².
Within CGC's tracked universe of 17 assets, OGI comes in at #5 by 3-year correlation. On 12-month performance OGI holds a 6.8-point edge, -33.1% against -26.3%. Note the risk asymmetry: CGC runs 2.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 OGI: side by side
| CGC (Canopy Growth Corporation) | OGI (Organigram Global Inc.) | |
|---|---|---|
| 1-year return | -33.1% | -26.3% |
| 5-year return | -99.4% | -88.1% |
| Volatility (ann.) | 133.1% | 64.6% |
| Beta vs S&P 500 | 1.82 | 1.67 |
| Max drawdown (3Y) | -95.1% | -68.0% |
| Market cap | $0.5B | $0.2B |
| P/E (trailing) | – | 2.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CGC | OGI |
|---|---|---|
| 2022 | -73.5% | -54.3% |
| 2023 | -77.9% | -59.1% |
| 2024 | -46.4% | +22.9% |
| 2025 | -58.4% | +4.3% |
| 2026 | -11.4% | -26.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CGC and OGI good diversifiers for each other?
Reasonably. At 0.49, CGC and OGI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CGC and OGI?
As of 2026-08-27, the correlation of weekly returns between CGC and OGI is 0.49 over 3 years, 0.55 over 1 year and 0.53 over 5 years.
Is OGI a good diversifier for CGC?
Reasonably. At 0.49, CGC and OGI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.49 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
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Related comparisons
Hubs: CGC correlations · OGI correlations
