SNDL vs TRLV: Correlation
SNDL Inc. (SNDL) and Trulieve Cannabis Corp. Subordinate Voting Shares (TRLV) show a moderate relationship: their 3-year correlation of weekly returns is 0.51.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SNDL and TRLV?
Across a 3-year window, the weekly returns of SNDL and TRLV correlate at 0.51, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.66 versus 0.51 over 3 years. Stretching to 5 years gives 0.44, with an annualized covariance of 2340.2 %².
Among the 18 assets we track against SNDL, TRLV ranks #7 by 3-year correlation. The last year tells two different stories: TRLV led by 69.3 percentage points, -46.6% for SNDL against +22.7% for TRLV. Note the risk asymmetry: TRLV runs 1.8 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.
SNDL vs TRLV: side by side
| SNDL (SNDL Inc.) | TRLV (Trulieve Cannabis Corp. Subordinate Voting Shares) | |
|---|---|---|
| 1-year return | -46.6% | +22.7% |
| 5-year return | -81.9% | -59.1% |
| Volatility (ann.) | 51.2% | 89.9% |
| Beta vs S&P 500 | 0.81 | 1.02 |
| Max drawdown (3Y) | -57.4% | -77.5% |
| Market cap | $0.3B | $2.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SNDL | TRLV |
|---|---|---|
| 2022 | -63.8% | -70.9% |
| 2023 | -21.5% | -31.2% |
| 2024 | +9.1% | -0.5% |
| 2025 | -7.3% | +67.6% |
| 2026 | -18.7% | +26.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SNDL and TRLV good diversifiers for each other?
Only partially. A correlation of 0.51 means SNDL and TRLV 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 SNDL and TRLV?
Using weekly returns as of 2026-08-27: 0.51 over 3 years, with 0.66 over the last year and 0.44 over 5 years.
Is TRLV a good diversifier for SNDL?
Only partially. A correlation of 0.51 means SNDL and TRLV share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.51 mean?
On the −1 to +1 scale, 0.51 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/sndl-vs-trlv.json
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[](https://www.pairbook.io/pair/sndl-vs-trlv/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SNDL correlations · TRLV correlations
