CGC vs SMC: Correlation
Measured on weekly returns over the past three years, Canopy Growth Corporation (CGC) and Summit Midstream Corporation (SMC) carry a correlation of 0.38, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CGC and SMC?
Over the past 3 years, CGC and SMC moved with a correlation of 0.38, which is moderate. The link has loosened recently: the 1-year correlation (-0.04) runs below the 3-year figure (0.38). Over 5 years the correlation is 0.33, and the annualized covariance of weekly returns is 2633.3 %².
Among the 17 assets we track against CGC, SMC ranks #9 by 3-year correlation. The last year tells two different stories: SMC led by 98.3 percentage points, -33.1% for CGC against +65.2% for SMC. Risk is not evenly split, since CGC carries 2.5 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.
CGC vs SMC: side by side
| CGC (Canopy Growth Corporation) | SMC (Summit Midstream Corporation) | |
|---|---|---|
| 1-year return | -33.1% | +65.2% |
| 5-year return | -99.4% | +1.2% |
| Volatility (ann.) | 133.1% | 52.2% |
| Beta vs S&P 500 | 1.82 | 0.43 |
| Max drawdown (3Y) | -95.1% | -57.3% |
| Market cap | $0.5B | $0.5B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CGC | SMC |
|---|---|---|
| 2022 | -73.5% | -24.9% |
| 2023 | -77.9% | +7.4% |
| 2024 | -46.4% | +110.9% |
| 2025 | -58.4% | -29.4% |
| 2026 | -11.4% | +27.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CGC and SMC good diversifiers for each other?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CGC and SMC?
Using weekly returns as of 2026-08-27: 0.38 over 3 years, with -0.04 over the last year and 0.33 over 5 years.
Is SMC a good diversifier for CGC?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.38 mean?
A reading of 0.38 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
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Related comparisons
Hubs: CGC correlations · SMC correlations
