CURLF vs. TCNNF

Last updated Jun 4, 2026

CURLF (Curaleaf Holdings, Inc.) and TCNNF (Trulieve Cannabis Corp) are both stocks. Both operate in the Drug Manufacturers - Specialty & Generic industry within the Healthcare sector. Over the past 5 years, CURLF returned -25.54%/yr vs -25.96%/yr for TCNNF. A 0.63 correlation means they provide meaningful diversification when combined.

Performance

CURLF vs. TCNNF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Curaleaf Holdings, Inc. (CURLF) and Trulieve Cannabis Corp (TCNNF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CURLF achieves a 35.32% return, which is significantly higher than TCNNF's -0.92% return.

CURLF

• 1D: -5.01%
• 1M: 4.60%
• YTD: 35.32%
• 6M: 39.75%
• 1Y: 315.85%
• 3Y*: 6.35%
• 5Y*: -25.54%
• 10Y*: —

TCNNF

• 1D: -7.62%
• 1M: -6.11%
• YTD: -0.92%
• 6M: 44.22%
• 1Y: 116.14%
• 3Y*: 30.55%
• 5Y*: -25.96%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CURLF vs. TCNNF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
CURLF Curaleaf Holdings, Inc.	35.32%	61.54%	-61.58%	-5.52%	-52.25%	-24.82%	89.73%	33.12%	-18.97%
TCNNF Trulieve Cannabis Corp	-0.92%	67.65%	-0.51%	-31.18%	-70.90%	-17.74%	167.07%	46.53%	-5.16%

Correlation

The correlation between CURLF and TCNNF is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (All Time) Calculated using the full available price history since Oct 30, 2018	0.63

The correlation between CURLF and TCNNF shifts across timeframes, from 0.63 (all time) to 0.80 (1 year), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap CURLF : $2.64B TCNNF : $1.70B
EPS CURLF : -$0.13 TCNNF : -$0.42
PS Ratio CURLF : 2.02 TCNNF : 1.41
PB Ratio CURLF : 3.21 TCNNF : 1.48
Total Revenue (TTM) CURLF : $1.30B TCNNF : $1.17B
Gross Profit (TTM) CURLF : $528.91M TCNNF : $670.85M
EBITDA (TTM) CURLF : $188.46M TCNNF : $276.20M

Return for Risk

CURLF vs. TCNNF — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CURLF

CURLF Risk / Return Rank: 89
CURLF Sharpe Ratio Rank: 91
CURLF Sortino Ratio Rank: 88
CURLF Omega Ratio Rank: 86
CURLF Calmar Ratio Rank: 92
CURLF Martin Ratio Rank: 87

TCNNF

TCNNF Risk / Return Rank: 75
TCNNF Sharpe Ratio Rank: 71
TCNNF Sortino Ratio Rank: 80
TCNNF Omega Ratio Rank: 75
TCNNF Calmar Ratio Rank: 76
TCNNF Martin Ratio Rank: 73

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CURLF vs. TCNNF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Curaleaf Holdings, Inc. (CURLF) and Trulieve Cannabis Corp (TCNNF). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	CURLF	TCNNF	Difference
Sharpe ratio Return per unit of total volatility	2.48	0.97	+1.52
Sortino ratio Return per unit of downside risk	3.02	2.33	+0.69
Omega ratio Gain probability vs. loss probability	1.38	1.26	+0.12
Calmar ratio Return relative to maximum drawdown	5.32	2.15	+3.18
Martin ratio Return relative to average drawdown	9.98	4.27	+5.71
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CURLF vs. TCNNF - Sharpe Ratio Comparison

The current CURLF Sharpe Ratio is 2.48, which is higher than the TCNNF Sharpe Ratio of 0.97. The chart below compares the historical Sharpe Ratios of CURLF and TCNNF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CURLF	TCNNF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.48	0.97	+1.52
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.29	-0.30	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	-0.08	-0.03	-0.05

Drawdowns

CURLF vs. TCNNF - Drawdown Comparison

The maximum CURLF drawdown since its inception was -95.70%, roughly equal to the maximum TCNNF drawdown of -93.88%. Use the drawdown chart below to compare losses from any high point for CURLF and TCNNF.

Drawdown Indicators

	CURLF	TCNNF	Difference
Max Drawdown Largest peak-to-trough decline	-95.70%	-93.88%	-1.82%
Max Drawdown (1Y) Largest decline over 1 year	-59.79%	-54.42%	-5.37%
Max Drawdown (3Y) Largest decline over 3 years	-88.28%	-77.52%	-10.76%
Max Drawdown (5Y) Largest decline over 5 years	-95.06%	-91.77%	-3.29%
Current Drawdown Current decline from peak	-80.06%	-83.69%	+3.63%
Average Drawdown Average peak-to-trough decline	-58.26%	-61.17%	+2.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	31.82%	27.30%	+4.52%

Volatility

CURLF vs. TCNNF - Volatility Comparison

The current volatility for Curaleaf Holdings, Inc. (CURLF) is 25.97%, while Trulieve Cannabis Corp (TCNNF) has a volatility of 28.96%. This indicates that CURLF experiences smaller price fluctuations and is considered to be less risky than TCNNF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CURLF	TCNNF	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.97%	28.96%	-2.99%
Volatility (6M) Calculated over the trailing 6-month period	86.97%	83.64%	+3.33%
Volatility (1Y) Calculated over the trailing 1-year period	128.15%	120.71%	+7.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	87.95%	87.79%	+0.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	84.26%	81.83%	+2.43%

Dividends

CURLF vs. TCNNF - Dividend Comparison

Neither CURLF nor TCNNF has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

CURLF vs. TCNNF - Profitability Comparison

The chart below illustrates the profitability comparison between Curaleaf Holdings, Inc. and Trulieve Cannabis Corp over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

CURLF - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Curaleaf Holdings, Inc. reported a gross profit of 121.91M and revenue of 319.74M. Therefore, the gross margin over that period was 38.1%.

TCNNF - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Trulieve Cannabis Corp reported a gross profit of 170.08M and revenue of 286.75M. Therefore, the gross margin over that period was 59.3%.

CURLF - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Curaleaf Holdings, Inc. reported an operating income of 742.57K and revenue of 319.74M, resulting in an operating margin of 0.2%.

TCNNF - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Trulieve Cannabis Corp reported an operating income of 35.73M and revenue of 286.75M, resulting in an operating margin of 12.5%.

CURLF - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Curaleaf Holdings, Inc. reported a net income of 68.83M and revenue of 319.74M, resulting in a net margin of 21.5%.

TCNNF - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Trulieve Cannabis Corp reported a net income of 2.41M and revenue of 286.75M, resulting in a net margin of 0.8%.

Frequently Asked Questions

Can I hold both CURLF and TCNNF in my portfolio?

CURLF and TCNNF have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CURLF or TCNNF?

TCNNF has higher volatility (28.96%) compared to CURLF (25.97%). In terms of maximum drawdown, CURLF dropped -95.70% vs TCNNF's -93.88%.

Which has better risk-adjusted returns?

CURLF currently has the higher Sharpe Ratio (2.48 vs 0.97), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.