GTBIF vs. TSNDF

Last updated Jun 3, 2026

GTBIF (Green Thumb Industries Inc) and TSNDF (TerrAscend Corp) are both stocks. Both operate in the Drug Manufacturers - Specialty & Generic industry within the Healthcare sector. Over the past 5 years, GTBIF returned -23.25%/yr vs -42.69%/yr for TSNDF. At a 0.49 correlation, their price movements are largely independent.

Performance

GTBIF vs. TSNDF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Green Thumb Industries Inc (GTBIF) and TerrAscend Corp (TSNDF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GTBIF achieves a -0.20% return, which is significantly higher than TSNDF's -1.40% return.

GTBIF

• 1D: -2.55%
• 1M: 0.12%
• YTD: -0.20%
• 6M: 25.90%
• 1Y: 48.52%
• 3Y*: 2.49%
• 5Y*: -23.25%
• 10Y*: 84.66%

TSNDF

• 1D: -1.40%
• 1M: -4.21%
• YTD: -1.40%
• 6M: 33.94%
• 1Y: 105.77%
• 3Y*: -23.62%
• 5Y*: -42.69%
• 10Y*: —

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

GTBIF vs. TSNDF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GTBIF Green Thumb Industries Inc	-0.20%	-1.64%	-27.64%	30.67%	-61.01%	-9.55%	151.28%	21.42%	40,051.00%	-24.53%
TSNDF TerrAscend Corp	-1.40%	10.77%	-60.12%	44.25%	-81.52%	-39.15%	358.90%	-48.83%	73.63%	57.54%

Correlation

The correlation between GTBIF and TSNDF is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (5Y) Calculated over the trailing 5-year period	0.64
Correlation (All Time) Calculated using the full available price history since Nov 20, 2017	0.49

Over the past year, GTBIF and TSNDF have become more correlated (0.76) than their long-term average of 0.49, meaning their price movements have been converging.

Fundamentals

Market Cap GTBIF : $1.86B TSNDF : $219.03M
EPS GTBIF : $0.52 TSNDF : -$0.27
PS Ratio GTBIF : 1.57 TSNDF : 0.85
PB Ratio GTBIF : 0.98 TSNDF : 2.41
Total Revenue (TTM) GTBIF : $1.20B TSNDF : $255.10M
Gross Profit (TTM) GTBIF : $575.26M TSNDF : $134.12M
EBITDA (TTM) GTBIF : $438.97M TSNDF : $40.73M

Return for Risk

GTBIF vs. TSNDF — Risk / Return Rank

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

GTBIF

GTBIF Risk / Return Rank: 62
GTBIF Sharpe Ratio Rank: 58
GTBIF Sortino Ratio Rank: 66
GTBIF Omega Ratio Rank: 61
GTBIF Calmar Ratio Rank: 65
GTBIF Martin Ratio Rank: 62

TSNDF

TSNDF Risk / Return Rank: 69
TSNDF Sharpe Ratio Rank: 61
TSNDF Sortino Ratio Rank: 77
TSNDF Omega Ratio Rank: 75
TSNDF Calmar Ratio Rank: 68
TSNDF Martin Ratio Rank: 63

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.

GTBIF vs. TSNDF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Green Thumb Industries Inc (GTBIF) and TerrAscend Corp (TSNDF). 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.

	GTBIF	TSNDF	Difference
Sharpe ratio Return per unit of total volatility	0.51	0.62	-0.11
Sortino ratio Return per unit of downside risk	1.56	2.19	-0.63
Omega ratio Gain probability vs. loss probability	1.18	1.26	-0.09
Calmar ratio Return relative to maximum drawdown	1.26	1.45	-0.20
Martin ratio Return relative to average drawdown	2.47	2.45	+0.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GTBIF vs. TSNDF - Sharpe Ratio Comparison

The current GTBIF Sharpe Ratio is 0.51, which is comparable to the TSNDF Sharpe Ratio of 0.62. The chart below compares the historical Sharpe Ratios of GTBIF and TSNDF, 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

	GTBIF	TSNDF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.51	0.62	-0.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.33	-0.40	+0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.00	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.00	-0.09	+0.09

Drawdowns

GTBIF vs. TSNDF - Drawdown Comparison

The maximum GTBIF drawdown since its inception was -99.97%, roughly equal to the maximum TSNDF drawdown of -98.47%. Use the drawdown chart below to compare losses from any high point for GTBIF and TSNDF.

Drawdown Indicators

	GTBIF	TSNDF	Difference
Max Drawdown Largest peak-to-trough decline	-99.97%	-98.47%	-1.50%
Max Drawdown (1Y) Largest decline over 1 year	-42.24%	-66.96%	+24.72%
Max Drawdown (3Y) Largest decline over 3 years	-68.66%	-89.57%	+20.91%
Max Drawdown (5Y) Largest decline over 5 years	-85.71%	-97.92%	+12.21%
Max Drawdown (10Y) Largest decline over 10 years	-92.86%	—	—
Current Drawdown Current decline from peak	-79.14%	-95.47%	+16.33%
Average Drawdown Average peak-to-trough decline	-78.99%	-66.64%	-12.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	21.45%	39.64%	-18.19%

Volatility

GTBIF vs. TSNDF - Volatility Comparison

The current volatility for Green Thumb Industries Inc (GTBIF) is 15.17%, while TerrAscend Corp (TSNDF) has a volatility of 19.69%. This indicates that GTBIF experiences smaller price fluctuations and is considered to be less risky than TSNDF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GTBIF	TSNDF	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.17%	19.69%	-4.52%
Volatility (6M) Calculated over the trailing 6-month period	69.64%	125.33%	-55.69%
Volatility (1Y) Calculated over the trailing 1-year period	96.46%	171.83%	-75.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	71.81%	106.92%	-35.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46,691.27%	95.08%	+46,596.19%

Dividends

GTBIF vs. TSNDF - Dividend Comparison

Neither GTBIF nor TSNDF has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

GTBIF vs. TSNDF - Profitability Comparison

The chart below illustrates the profitability comparison between Green Thumb Industries Inc and TerrAscend Corp over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

GTBIF - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Green Thumb Industries Inc reported a gross profit of 143.65M and revenue of 300.19M. Therefore, the gross margin over that period was 47.9%.

TSNDF - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, TerrAscend Corp reported a gross profit of 34.60M and revenue of 65.54M. Therefore, the gross margin over that period was 52.8%.

GTBIF - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Green Thumb Industries Inc reported an operating income of 40.73M and revenue of 300.19M, resulting in an operating margin of 13.6%.

TSNDF - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, TerrAscend Corp reported an operating income of 11.52M and revenue of 65.54M, resulting in an operating margin of 17.6%.

GTBIF - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Green Thumb Industries Inc reported a net income of 15.40M and revenue of 300.19M, resulting in a net margin of 5.1%.

TSNDF - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, TerrAscend Corp reported a net income of -8.00M and revenue of 65.54M, resulting in a net margin of -12.2%.

Frequently Asked Questions

Can I hold both GTBIF and TSNDF in my portfolio?

GTBIF and TSNDF have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GTBIF or TSNDF?

TSNDF has higher volatility (19.69%) compared to GTBIF (15.17%). In terms of maximum drawdown, GTBIF dropped -99.97% vs TSNDF's -98.47%.

Which has better risk-adjusted returns?

TSNDF currently has the higher Sharpe Ratio (0.62 vs 0.51), 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.