CGC vs XPL: Correlation
Canopy Growth Corporation (CGC) and Solitario Resources Corp. (XPL) show a moderate relationship: their 3-year correlation of weekly returns is 0.36.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CGC and XPL?
On 3 years of weekly data the CGC/XPL correlation comes out at 0.36, moderate. The link has loosened recently: the 1-year correlation (0.18) runs below the 3-year figure (0.36). The 5-year figure is 0.30, and annualized covariance runs at 2315.5 %².
By 3-year correlation, XPL places #10 of the 17 assets tracked against CGC. Their recent paths diverged sharply: over the last 12 months XPL outperformed by 38.5 percentage points (-33.1% for CGC against +5.4% for XPL). One caveat on sizing: CGC is 2.8 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 XPL: side by side
| CGC (Canopy Growth Corporation) | XPL (Solitario Resources Corp.) | |
|---|---|---|
| 1-year return | -33.1% | +5.4% |
| 5-year return | -99.4% | +45.0% |
| Volatility (ann.) | 133.1% | 48.2% |
| Beta vs S&P 500 | 1.82 | 1.10 |
| Max drawdown (3Y) | -95.1% | -42.1% |
| Market cap | $0.5B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CGC | XPL |
|---|---|---|
| 2022 | -73.5% | +24.0% |
| 2023 | -77.9% | -9.7% |
| 2024 | -46.4% | +5.4% |
| 2025 | -58.4% | +18.6% |
| 2026 | -11.4% | +16.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CGC and XPL good diversifiers for each other?
Reasonably. At 0.36, CGC and XPL keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CGC and XPL?
As of 2026-08-27, the correlation of weekly returns between CGC and XPL is 0.36 over 3 years, 0.18 over 1 year and 0.30 over 5 years.
Is XPL a good diversifier for CGC?
Reasonably. At 0.36, CGC and XPL keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.36 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-xpl.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cgc-vs-xpl/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CGC correlations · XPL correlations
