IGC vs SNDL: Correlation
IGC Pharma, Inc. (IGC) and SNDL Inc. (SNDL) show a moderate relationship: their 3-year correlation of weekly returns is 0.43.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IGC and SNDL?
Across a 3-year window, the weekly returns of IGC and SNDL correlate at 0.43, moderate. The link has tightened recently: the 1-year correlation (0.55) runs above the 3-year figure (0.43). Stretching to 5 years gives 0.43, with an annualized covariance of 1483.0 %².
Within IGC's tracked universe of 10 assets, SNDL comes in at #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with IGC ahead by 20.8 points (-25.8% versus -46.6%).
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.
IGC vs SNDL: side by side
| IGC (IGC Pharma, Inc.) | SNDL (SNDL Inc.) | |
|---|---|---|
| 1-year return | -25.8% | -46.6% |
| 5-year return | -79.0% | -81.9% |
| Volatility (ann.) | 67.5% | 51.2% |
| Beta vs S&P 500 | 0.66 | 0.81 |
| Max drawdown (3Y) | -65.2% | -57.4% |
| Market cap | – | $0.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IGC | SNDL |
|---|---|---|
| 2022 | -67.3% | -63.8% |
| 2023 | -12.5% | -21.5% |
| 2024 | +21.4% | +9.1% |
| 2025 | -17.6% | -7.3% |
| 2026 | +19.3% | -18.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IGC and SNDL good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between IGC and SNDL?
Using weekly returns as of 2026-08-27: 0.43 over 3 years, with 0.55 over the last year and 0.43 over 5 years.
Is SNDL a good diversifier for IGC?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.43 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/igc-vs-sndl.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/igc-vs-sndl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IGC correlations · SNDL correlations
