TCX vs. GLRE
TCX (Tucows Inc.) and GLRE (Greenlight Capital Re, Ltd.) are both stocks. TCX operates in Software - Infrastructure (Technology), while GLRE operates in Insurance - Reinsurance (Financial Services). Over the past 10 years, TCX returned -5.86%/yr vs -1.79%/yr for GLRE. At a 0.17 correlation, their price movements are largely independent.
Performance
TCX vs. GLRE - Performance Comparison
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Returns By Period
In the year-to-date period, TCX achieves a -41.48% return, which is significantly lower than GLRE's 9.53% return. Over the past 10 years, TCX has underperformed GLRE with an annualized return of -5.86%, while GLRE has yielded a comparatively higher -1.79% annualized return.
TCX
- 1D
- -1.58%
- 1M
- -12.65%
- YTD
- -41.48%
- 6M
- -42.28%
- 1Y
- -33.60%
- 3Y*
- -22.33%
- 5Y*
- -29.95%
- 10Y*
- -5.86%
GLRE
- 1D
- -0.62%
- 1M
- -7.10%
- YTD
- 9.53%
- 6M
- 10.29%
- 1Y
- 10.90%
- 3Y*
- 17.60%
- 5Y*
- 11.73%
- 10Y*
- -1.79%
TCX vs. GLRE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TCX Tucows Inc. | -41.48% | 30.81% | -36.52% | -20.40% | -59.53% | 13.44% | 19.60% | 2.86% | -14.26% | 98.72% |
GLRE Greenlight Capital Re, Ltd. | 9.53% | 4.14% | 22.59% | 40.12% | 3.95% | 7.25% | -27.70% | 17.29% | -57.11% | -11.84% |
Correlation
The correlation between TCX and GLRE is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.23 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since May 24, 2007 | 0.17 |
Fundamentals
TCX:
$145.95M
GLRE:
$545.76M
TCX:
-$7.10
GLRE:
$2.37
TCX:
0.37
GLRE:
0.77
TCX:
4.61
GLRE:
0.74
TCX:
$392.35M
GLRE:
$706.45M
TCX:
$90.79M
GLRE:
$274.94M
TCX:
-$455.00K
GLRE:
$50.58M
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Return for Risk
TCX vs. GLRE — Risk / Return Rank
TCX
GLRE
TCX vs. GLRE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tucows Inc. (TCX) and Greenlight Capital Re, Ltd. (GLRE). 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.
| TCX | GLRE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.14 | ||
| Sortino ratioReturn per unit of downside risk | -1.64 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.09 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | -0.69 | 0.48 | -1.17 |
| Martin ratioReturn relative to average drawdown | -1.39 | 1.00 | -2.38 |
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Drawdowns
TCX vs. GLRE - Drawdown Comparison
The maximum TCX drawdown since its inception was -98.68%, which is greater than GLRE's maximum drawdown of -85.00%. Use the drawdown chart below to compare losses from any high point for TCX and GLRE.
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Drawdown Indicators
| TCX | GLRE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.68% | -85.00% | -13.68% |
Max Drawdown (1Y)Largest decline over 1 year | -48.84% | -22.68% | -26.16% |
Max Drawdown (3Y)Largest decline over 3 years | -58.76% | -22.80% | -35.96% |
Max Drawdown (5Y)Largest decline over 5 years | -86.03% | -30.29% | -55.74% |
Max Drawdown (10Y)Largest decline over 10 years | -86.19% | -78.08% | -8.11% |
Current DrawdownCurrent decline from peak | -85.78% | -54.37% | -31.41% |
Average DrawdownAverage peak-to-trough decline | -71.91% | -42.26% | -29.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.24% | 10.96% | +13.28% |
Volatility
TCX vs. GLRE - Volatility Comparison
Tucows Inc. (TCX) has a higher volatility of 13.03% compared to Greenlight Capital Re, Ltd. (GLRE) at 8.58%. This indicates that TCX's price experiences larger fluctuations and is considered to be riskier than GLRE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TCX | GLRE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.03% | 8.58% | +4.45% |
Volatility (6M)Calculated over the trailing 6-month period | 36.00% | 18.94% | +17.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 48.32% | 24.73% | +23.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 55.67% | 26.57% | +29.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 48.33% | 31.81% | +16.52% |
Dividends
TCX vs. GLRE - Dividend Comparison
Neither TCX nor GLRE has paid dividends to shareholders.
Financials
TCX vs. GLRE - Financials Comparison
This section allows you to compare key financial metrics between Tucows Inc. and Greenlight Capital Re, Ltd.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
TCX vs. GLRE - Profitability Comparison
TCX - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Tucows Inc. reported a gross profit of 24.13M and revenue of 96.66M. Therefore, the gross margin over that period was 25.0%.
GLRE - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Greenlight Capital Re, Ltd. reported a gross profit of 0.00 and revenue of 189.66M. Therefore, the gross margin over that period was 0.0%.
TCX - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Tucows Inc. reported an operating income of -4.31M and revenue of 96.66M, resulting in an operating margin of -4.5%.
GLRE - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Greenlight Capital Re, Ltd. reported an operating income of 0.00 and revenue of 189.66M, resulting in an operating margin of 0.0%.
TCX - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Tucows Inc. reported a net income of -18.11M and revenue of 96.66M, resulting in a net margin of -18.7%.
GLRE - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Greenlight Capital Re, Ltd. reported a net income of 35.75M and revenue of 189.66M, resulting in a net margin of 18.9%.
Frequently Asked Questions
TCX and GLRE have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TCX has higher volatility (13.03%) compared to GLRE (8.58%). In terms of maximum drawdown, TCX dropped -98.68% vs GLRE's -85.00%.
GLRE currently has the higher Sharpe Ratio (0.44 vs -0.70), 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.
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