HITI vs SNDL: Correlation
High Tide Inc. (HITI) and SNDL Inc. (SNDL) show a moderate relationship: their 3-year correlation of weekly returns is 0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HITI and SNDL?
Over the past 3 years, HITI and SNDL moved with a correlation of 0.48, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.71 versus 0.48 over 3 years. Over 5 years the correlation is 0.53, and the annualized covariance of weekly returns is 1409.3 %².
SNDL is one of the assets that tracks HITI most closely: it ranks #1 out of the 10 assets we track against HITI. The last year tells two different stories: HITI led by 18.0 percentage points, -28.6% for HITI against -46.6% for SNDL.
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.
HITI vs SNDL: side by side
| HITI (High Tide Inc.) | SNDL (SNDL Inc.) | |
|---|---|---|
| 1-year return | -28.6% | -46.6% |
| 5-year return | -64.1% | -81.9% |
| Volatility (ann.) | 57.1% | 51.2% |
| Beta vs S&P 500 | 0.73 | 0.81 |
| Max drawdown (3Y) | -51.6% | -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 | HITI | SNDL |
|---|---|---|
| 2022 | -63.8% | -63.8% |
| 2023 | +5.8% | -21.5% |
| 2024 | +89.6% | +9.1% |
| 2025 | -14.2% | -7.3% |
| 2026 | -3.0% | -18.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HITI and SNDL good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between HITI and SNDL?
The HITI/SNDL correlation stands at 0.48 on a 3-year window (1 year: 0.71, 5 years: 0.53), computed from weekly returns as of 2026-08-27.
Is SNDL a good diversifier for HITI?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.48 mean?
A reading of 0.48 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: HITI correlations · SNDL correlations
