GNLN vs LWAY: Correlation
Measured on weekly returns over the past three years, Greenlane Holdings, Inc. (GNLN) and Lifeway Foods, Inc. (LWAY) carry a correlation of 0.45, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GNLN and LWAY?
On 3 years of weekly data the GNLN/LWAY correlation comes out at 0.45, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.12 versus 0.45 over 3 years. The 5-year figure is 0.37, and annualized covariance runs at 7677.4 %².
LWAY is one of the assets that tracks GNLN most closely: it ranks #3 out of the 13 assets we track against GNLN. Correlation aside, the last 12 months split them widely, with LWAY ahead by 75.1 points (-89.2% versus -14.1%). Note the risk asymmetry: GNLN runs 3.1 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.
GNLN vs LWAY: side by side
| GNLN (Greenlane Holdings, Inc.) | LWAY (Lifeway Foods, Inc.) | |
|---|---|---|
| 1-year return | -89.2% | -14.1% |
| 5-year return | -100.0% | +385.7% |
| Volatility (ann.) | 231.5% | 73.8% |
| Beta vs S&P 500 | 2.48 | 0.75 |
| Max drawdown (3Y) | -100.0% | -60.5% |
| Market cap | – | $0.4B |
| P/E (trailing) | 0.3 | 38.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GNLN | LWAY |
|---|---|---|
| 2022 | -98.5% | +20.7% |
| 2023 | -82.0% | +141.6% |
| 2024 | -71.0% | +84.9% |
| 2025 | -99.9% | -2.3% |
| 2026 | -77.9% | +7.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GNLN and LWAY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between GNLN and LWAY?
As of 2026-08-27, the correlation of weekly returns between GNLN and LWAY is 0.45 over 3 years, 0.12 over 1 year and 0.37 over 5 years.
Is LWAY a good diversifier for GNLN?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.45 mean?
A reading of 0.45 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
$ curl https://www.pairbook.io/api/v1/pairs/gnln-vs-lway.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gnln-vs-lway/)
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Related comparisons
Hubs: GNLN correlations · LWAY correlations
