EQT vs TRLV: Correlation
How closely do EQT Corporation (EQT) and Trulieve Cannabis Corp. Subordinate Voting Shares (TRLV) trade together? Their weekly returns over three years give a correlation of -0.21, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EQT and TRLV?
Across a 3-year window, the weekly returns of EQT and TRLV correlate at -0.21, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.32) runs below the 3-year figure (-0.21). Stretching to 5 years gives -0.02, with an annualized covariance of -658.6 %².
Among the 31 assets we track against EQT, TRLV ranks #25 by 3-year correlation. The trailing year gives TRLV the advantage: +7.9% versus +22.7%, a 14.8-point spread. One caveat on sizing: TRLV is 2.6 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.
EQT vs TRLV: side by side
| EQT (EQT Corporation) | TRLV (Trulieve Cannabis Corp. Subordinate Voting Shares) | |
|---|---|---|
| 1-year return | +7.9% | +22.7% |
| 5-year return | +224.8% | -59.1% |
| Volatility (ann.) | 34.1% | 89.9% |
| Beta vs S&P 500 | 0.52 | 1.02 |
| Max drawdown (3Y) | -31.6% | -77.5% |
| Market cap | $34.3B | $2.1B |
| P/E (trailing) | 12.7 | – |
| Dividend yield | 1.19% | 0.00% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | EQT | TRLV |
|---|---|---|
| 2022 | +57.6% | -70.9% |
| 2023 | +16.2% | -31.2% |
| 2024 | +21.4% | -0.5% |
| 2025 | +17.6% | +67.6% |
| 2026 | +3.1% | +26.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EQT and TRLV good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between EQT and TRLV?
The EQT/TRLV correlation stands at -0.21 on a 3-year window (1 year: -0.32, 5 years: -0.02), computed from weekly returns as of 2026-08-27.
Is TRLV a good diversifier for EQT?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
What does a correlation of -0.21 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.
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Related comparisons
Hubs: EQT correlations · TRLV correlations
