GRWG vs SNDL: Correlation
Measured on weekly returns over the past three years, GrowGeneration Corp. (GRWG) and SNDL Inc. (SNDL) carry a correlation of 0.55, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GRWG and SNDL?
Over the past 3 years, GRWG and SNDL moved with a correlation of 0.55, which is moderate. The link has loosened recently: the 1-year correlation (0.43) runs below the 3-year figure (0.55). Over 5 years the correlation is 0.50, and the annualized covariance of weekly returns is 2228.4 %².
SNDL is one of the assets that tracks GRWG most closely: it ranks #1 out of the 18 assets we track against GRWG. Their recent paths diverged sharply: over the last 12 months GRWG outperformed by 45.4 percentage points (-1.2% for GRWG against -46.6% for SNDL). One caveat on sizing: GRWG is 1.6 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.
GRWG vs SNDL: side by side
| GRWG (GrowGeneration Corp.) | SNDL (SNDL Inc.) | |
|---|---|---|
| 1-year return | -1.2% | -46.6% |
| 5-year return | -94.6% | -81.9% |
| Volatility (ann.) | 79.8% | 51.2% |
| Beta vs S&P 500 | 1.88 | 0.81 |
| Max drawdown (3Y) | -76.3% | -57.4% |
| Market cap | $0.1B | $0.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GRWG | SNDL |
|---|---|---|
| 2022 | -70.0% | -63.8% |
| 2023 | -36.0% | -21.5% |
| 2024 | -32.7% | +9.1% |
| 2025 | -11.2% | -7.3% |
| 2026 | +10.7% | -18.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GRWG and SNDL good diversifiers for each other?
Only partially. A correlation of 0.55 means GRWG and SNDL share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between GRWG and SNDL?
As of 2026-08-27, the correlation of weekly returns between GRWG and SNDL is 0.55 over 3 years, 0.43 over 1 year and 0.50 over 5 years.
Is SNDL a good diversifier for GRWG?
Only partially. A correlation of 0.55 means GRWG and SNDL share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.55 mean?
A reading of 0.55 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/grwg-vs-sndl.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/grwg-vs-sndl/)
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Related comparisons
Hubs: GRWG correlations · SNDL correlations
