TLRY vs TRLV: Correlation
How closely do Tilray Brands, Inc. (TLRY) and Trulieve Cannabis Corp. Subordinate Voting Shares (TRLV) trade together? Their weekly returns over three years give a correlation of 0.54, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TLRY and TRLV?
On 3 years of weekly data the TLRY/TRLV correlation comes out at 0.54, moderate. The link has tightened recently: the 1-year correlation (0.65) runs above the 3-year figure (0.54). The 5-year figure is 0.53, and annualized covariance runs at 4170.9 %².
Among the 15 assets we track against TLRY, TRLV ranks #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months TRLV outperformed by 89.3 percentage points (-66.6% for TLRY against +22.7% for TRLV).
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.
TLRY vs TRLV: side by side
| TLRY (Tilray Brands, Inc.) | TRLV (Trulieve Cannabis Corp. Subordinate Voting Shares) | |
|---|---|---|
| 1-year return | -66.6% | +22.7% |
| 5-year return | -96.5% | -59.1% |
| Volatility (ann.) | 86.6% | 89.9% |
| Beta vs S&P 500 | 1.37 | 1.02 |
| Max drawdown (3Y) | -89.1% | -77.5% |
| Market cap | $0.6B | $2.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TLRY | TRLV |
|---|---|---|
| 2022 | -61.7% | -70.9% |
| 2023 | -14.5% | -31.2% |
| 2024 | -42.2% | -0.5% |
| 2025 | -32.1% | +67.6% |
| 2026 | -49.4% | +26.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TLRY and TRLV good diversifiers for each other?
To a limited degree. At 0.54 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between TLRY and TRLV?
As of 2026-08-27, the correlation of weekly returns between TLRY and TRLV is 0.54 over 3 years, 0.65 over 1 year and 0.53 over 5 years.
Is TRLV a good diversifier for TLRY?
To a limited degree. At 0.54 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.54 mean?
A reading of 0.54 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/tlry-vs-trlv.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/tlry-vs-trlv/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: TLRY correlations · TRLV correlations
