EQ vs SNDL: Correlation
Measured on weekly returns over the past three years, Equillium, Inc. (EQ) and SNDL Inc. (SNDL) carry a correlation of 0.40, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EQ and SNDL?
Over the past 3 years, EQ and SNDL moved with a correlation of 0.40, which is moderate. Little has changed lately, as the 1-year reading of 0.42 lands near the 3-year figure. Over 5 years the correlation is 0.26, and the annualized covariance of weekly returns is 3046.2 %².
Few assets follow EQ as closely as SNDL, which ranks #3 of 13 tracked partners. The last year tells two different stories: EQ led by 74.9 percentage points, +28.3% for EQ against -46.6% for SNDL. Note the risk asymmetry: EQ runs 2.9 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.
EQ vs SNDL: side by side
| EQ (Equillium, Inc.) | SNDL (SNDL Inc.) | |
|---|---|---|
| 1-year return | +28.3% | -46.6% |
| 5-year return | -60.0% | -81.9% |
| Volatility (ann.) | 147.8% | 51.2% |
| Beta vs S&P 500 | 0.03 | 0.81 |
| Max drawdown (3Y) | -90.3% | -57.4% |
| Market cap | $0.2B | $0.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EQ | SNDL |
|---|---|---|
| 2022 | -71.9% | -63.8% |
| 2023 | -32.1% | -21.5% |
| 2024 | +4.2% | +9.1% |
| 2025 | +106.7% | -7.3% |
| 2026 | +58.1% | -18.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EQ and SNDL good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between EQ and SNDL?
As of 2026-08-27, the correlation of weekly returns between EQ and SNDL is 0.40 over 3 years, 0.42 over 1 year and 0.26 over 5 years.
Is SNDL a good diversifier for EQ?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.40 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/eq-vs-sndl.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/eq-vs-sndl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EQ correlations · SNDL correlations
