Canopy Growth Corporation Common Shares (CGC) — Stock Correlations & Overview
Over the past year, CGC has moved most closely with MJ, YOLO, TLRY. Explore the stocks most correlated and inversely correlated with CGC below, along with its price, financials, and company profile.
Stocks correlated with CGC
Correlation of daily returns. Higher positive values move with CGC; negative values move opposite it. Informational only, not investment advice.
Most correlated with CGC
| Symbol | Company | Correlation |
|---|---|---|
| MJ | Amplify Alternative Harvest ETF | 0.83 |
| YOLO | AdvisorShares Pure Cannabis ETF | 0.79 |
| TLRY | Tilray Brands, Inc. Common StockMEDICINAL CHEMICALS & BOTANICAL PRODUCTS | 0.74 |
| CNBS | Amplify Seymour Cannabis ETF | 0.74 |
| ACB | Aurora Cannabis Inc. Common Shares | 0.73 |
Most inversely correlated with CGC
| Symbol | Company | Correlation |
|---|---|---|
| CCHH | CCH Holdings Ltd Class A Ordinary Shares | -0.37 |
| SARK | Investment Managers Series Trust II Tradr 1X Short Innovation Daily ETF | -0.34 |
| ARBK | Argo Blockchain plc American Depositary Shares | -0.32 |
| CONI | GraniteShares ETF Trust GraniteShares 2x Short COIN Daily ETF | -0.31 |
| SCC | ProShares UltraShort Consumer Discretionary | -0.30 |
Frequently asked questions about CGC correlations
- Which stocks are most correlated with CGC?
- Based on one year of daily returns, the stocks most correlated with Canopy Growth Corporation Common Shares (CGC) are MJ (0.83), YOLO (0.79) and TLRY (0.74). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with CGC?
- Over the past year, the stocks most inversely correlated with Canopy Growth Corporation Common Shares (CGC) are CCHH (-0.37), SARK (-0.34) and ARBK (-0.32). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these CGC correlations calculated?
- We compute the correlation of daily returns between CGC and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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