CRON vs TLRY: Correlation
How closely do Cronos Group Inc. - Common Share (CRON) and Tilray Brands, Inc. (TLRY) trade together? Their weekly returns over three years give a correlation of 0.54, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRON and TLRY?
Across a 3-year window, the weekly returns of CRON and TLRY correlate at 0.54, moderate. The link has tightened recently: the 1-year correlation (0.67) runs above the 3-year figure (0.54). Stretching to 5 years gives 0.62, with an annualized covariance of 1962.2 %².
Few assets follow CRON as closely as TLRY, which ranks #3 of 13 tracked partners. Correlation aside, the last 12 months split them widely, with CRON ahead by 99.0 points (+32.4% versus -66.6%). Note the risk asymmetry: TLRY 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.
CRON vs TLRY: side by side
| CRON (Cronos Group Inc. - Common Share) | TLRY (Tilray Brands, Inc.) | |
|---|---|---|
| 1-year return | +32.4% | -66.6% |
| 5-year return | -47.1% | -96.5% |
| Volatility (ann.) | 41.8% | 86.6% |
| Beta vs S&P 500 | 0.75 | 1.37 |
| Max drawdown (3Y) | -46.4% | -89.1% |
| Market cap | $1.2B | $0.6B |
| P/E (trailing) | 18.8 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CRON | TLRY |
|---|---|---|
| 2022 | -35.2% | -61.7% |
| 2023 | -17.7% | -14.5% |
| 2024 | -3.3% | -42.2% |
| 2025 | +30.2% | -32.1% |
| 2026 | +28.9% | -49.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRON and TLRY good diversifiers for each other?
To a limited degree. At 0.54 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CRON and TLRY?
Using weekly returns as of 2026-08-27: 0.54 over 3 years, with 0.67 over the last year and 0.62 over 5 years.
Is TLRY a good diversifier for CRON?
To a limited degree. At 0.54 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.54 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/cron-vs-tlry.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cron-vs-tlry/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CRON correlations · TLRY correlations
