HEIA.AS vs. CRON

Last updated Jun 13, 2026

HEIA.AS (Heineken N.V.) and CRON (Cronos Group Inc.) are both stocks. HEIA.AS operates in Beverages - Brewers (Consumer Defensive), while CRON operates in Drug Manufacturers - Specialty & Generic (Healthcare). Over the past 5 years, HEIA.AS returned -4.45%/yr vs -20.64%/yr for CRON. At a 0.08 correlation, their price movements are largely independent.

Performance

HEIA.AS vs. CRON - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Heineken N.V. (HEIA.AS) and Cronos Group Inc. (CRON). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

HEIA.AS is traded in EUR, while CRON is traded in USD. To make them comparable, the CRON values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, HEIA.AS achieves a 2.90% return, which is significantly lower than CRON's 3.47% return.

HEIA.AS

• 1D: -0.20%
• 1M: 8.79%
• YTD: 2.90%
• 6M: 3.05%
• 1Y: -7.15%
• 3Y*: -6.97%
• 5Y*: -4.45%
• 10Y*: 0.71%

CRON

• 1D: -2.47%
• 1M: 2.42%
• YTD: 3.47%
• 6M: -16.83%
• 1Y: 38.65%
• 3Y*: 12.40%
• 5Y*: -20.64%
• 10Y*: —

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

HEIA.AS vs. CRON - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HEIA.AS Heineken N.V.	2.90%	4.12%	-23.78%	6.71%	-9.72%	9.48%	-2.55%	25.08%	-9.63%	23.99%
CRON Cronos Group Inc.	3.47%	14.75%	3.03%	-20.18%	-31.19%	-39.29%	-16.98%	-24.51%	40.74%	514.74%

Correlation

The correlation between HEIA.AS and CRON is 0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.02
Correlation (3Y) Calculated over the trailing 3-year period	0.07
Correlation (5Y) Calculated over the trailing 5-year period	0.10
Correlation (All Time) Calculated using the full available price history since Jul 12, 2016	0.08

Return for Risk

HEIA.AS vs. CRON — Risk / Return Rank

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

HEIA.AS

HEIA.AS Risk / Return Rank: 24
HEIA.AS Sharpe Ratio Rank: 24
HEIA.AS Sortino Ratio Rank: 22
HEIA.AS Omega Ratio Rank: 22
HEIA.AS Calmar Ratio Rank: 25
HEIA.AS Martin Ratio Rank: 27

CRON

CRON Risk / Return Rank: 66
CRON Sharpe Ratio Rank: 67
CRON Sortino Ratio Rank: 68
CRON Omega Ratio Rank: 64
CRON Calmar Ratio Rank: 68
CRON Martin Ratio Rank: 64

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.

HEIA.AS vs. CRON - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Heineken N.V. (HEIA.AS) and Cronos Group Inc. (CRON). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	HEIA.AS	CRON	Difference
Sharpe ratio: Return per unit of total volatility	-0.43	0.76	-1.18
Sortino ratio: Return per unit of downside risk	-0.44	1.50	-1.94
Omega ratio: Gain probability vs. loss probability	0.94	1.18	-0.23
Calmar ratio: Return relative to maximum drawdown	-0.51	1.36	-1.86
Martin ratio: Return relative to average drawdown	-0.79	2.34	-3.14

HEIA.AS vs. CRON - Sharpe Ratio Comparison

The current HEIA.AS Sharpe Ratio is -0.43, which is lower than the CRON Sharpe Ratio of 0.76. The chart below compares the historical Sharpe Ratios of HEIA.AS and CRON, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HEIA.AS vs. CRON - Drawdown Comparison

The maximum HEIA.AS drawdown since its inception was -58.39%, smaller than the maximum CRON drawdown of -92.94%. Use the drawdown chart below to compare losses from any high point for HEIA.AS and CRON.

Drawdown Indicators

	HEIA.AS	CRON	Difference
Max Drawdown Largest peak-to-trough decline	-58.39%	-92.94%	+34.55%
Max Drawdown (1Y) Largest decline over 1 year	-18.67%	-25.84%	+7.17%
Max Drawdown (3Y) Largest decline over 3 years	-33.38%	-46.79%	+13.41%
Max Drawdown (5Y) Largest decline over 5 years	-37.50%	-80.46%	+42.96%
Max Drawdown (10Y) Largest decline over 10 years	-37.50%	—	—
Current Drawdown Current decline from peak	-28.21%	-88.95%	+60.74%
Average Drawdown Average peak-to-trough decline	-14.50%	-63.83%	+49.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.94%	14.98%	-3.04%

Volatility

HEIA.AS vs. CRON - Volatility Comparison

Heineken N.V. (HEIA.AS) and Cronos Group Inc. (CRON) have volatilities of 8.51% and 8.91%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HEIA.AS	CRON	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.51%	8.91%	-0.40%
Volatility (6M) Calculated over the trailing 6-month period	16.79%	29.56%	-12.77%
Volatility (1Y) Calculated over the trailing 1-year period	22.22%	46.35%	-24.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.03%	53.61%	-31.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.23%	74.63%	-53.40%

Dividends

HEIA.AS vs. CRON - Dividend Comparison

HEIA.AS's dividend yield for the trailing twelve months is around 2.69%, while CRON has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CRON Cronos Group Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
HEIA.AS Heineken N.V.	2.69%	2.74%	2.52%	2.09%	1.66%	0.99%	1.14%	1.74%	1.97%	1.56%	1.94%	1.50%

Financials

Frequently Asked Questions

Can I hold both HEIA.AS and CRON in my portfolio?

HEIA.AS and CRON have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.