TLRY vs. SNDL
TLRY (Tilray, Inc.) and SNDL (Sundial Growers Inc.) are both stocks. Both operate in the Drug Manufacturers - Specialty & Generic industry within the Healthcare sector. Over the past 5 years, TLRY returned -51.78%/yr vs -32.51%/yr for SNDL. A 0.64 correlation means they provide meaningful diversification when combined.
Performance
TLRY vs. SNDL - Performance Comparison
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Returns By Period
In the year-to-date period, TLRY achieves a -49.17% return, which is significantly lower than SNDL's -15.66% return.
TLRY
- 1D
- -2.96%
- 1M
- -13.23%
- YTD
- -49.17%
- 6M
- -55.95%
- 1Y
- 27.50%
- 3Y*
- -32.91%
- 5Y*
- -51.78%
- 10Y*
- —
SNDL
- 1D
- -1.41%
- 1M
- -3.45%
- YTD
- -15.66%
- 6M
- -21.79%
- 1Y
- 12.00%
- 3Y*
- 3.85%
- 5Y*
- -32.51%
- 10Y*
- —
TLRY vs. SNDL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
TLRY Tilray, Inc. | -49.17% | -32.11% | -42.17% | -14.50% | -61.74% | -14.89% | -51.78% | -58.04% |
SNDL Sundial Growers Inc. | -15.66% | -7.26% | 9.15% | -21.53% | -63.86% | 22.13% | -84.27% | -76.88% |
Correlation
The correlation between TLRY and SNDL is 0.68, 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 | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.74 |
Correlation (All Time) Calculated using the full available price history since Aug 1, 2019 | 0.64 |
The correlation between TLRY and SNDL has been stable across timeframes, ranging from 0.64 to 0.74 - a consistent structural relationship.
Fundamentals
TLRY:
-$25.09
SNDL:
-CA$0.04
TLRY:
0.30
SNDL:
0.55
TLRY:
$1.11B
SNDL:
CA$940.66M
TLRY:
$307.02M
SNDL:
CA$242.63M
TLRY:
-$1.84B
SNDL:
CA$43.64M
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Return for Risk
TLRY vs. SNDL — Risk / Return Rank
TLRY
SNDL
TLRY vs. SNDL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tilray, Inc. (TLRY) and Sundial Growers Inc. (SNDL). 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.
| TLRY | SNDL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.73 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.10 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 0.35 | 0.22 | +0.13 |
| Martin ratioReturn relative to average drawdown | 0.53 | 0.33 | +0.20 |
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Drawdowns
TLRY vs. SNDL - Drawdown Comparison
The maximum TLRY drawdown since its inception was -99.83%, roughly equal to the maximum SNDL drawdown of -99.07%. Use the drawdown chart below to compare losses from any high point for TLRY and SNDL.
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Drawdown Indicators
| TLRY | SNDL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.83% | -99.07% | -0.76% |
Max Drawdown (1Y)Largest decline over 1 year | -78.14% | -54.17% | -23.97% |
Max Drawdown (3Y)Largest decline over 3 years | -89.12% | -54.34% | -34.78% |
Max Drawdown (5Y)Largest decline over 5 years | -98.07% | -87.90% | -10.17% |
Current DrawdownCurrent decline from peak | -99.79% | -98.92% | -0.87% |
Average DrawdownAverage peak-to-trough decline | -91.41% | -94.44% | +3.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 51.73% | 35.99% | +15.74% |
Volatility
TLRY vs. SNDL - Volatility Comparison
Tilray, Inc. (TLRY) has a higher volatility of 11.77% compared to Sundial Growers Inc. (SNDL) at 6.77%. This indicates that TLRY's price experiences larger fluctuations and is considered to be riskier than SNDL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TLRY | SNDL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.77% | 6.77% | +5.00% |
Volatility (6M)Calculated over the trailing 6-month period | 41.98% | 30.79% | +11.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 131.04% | 68.40% | +62.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 94.88% | 70.52% | +24.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 111.73% | 114.79% | -3.06% |
Dividends
TLRY vs. SNDL - Dividend Comparison
Neither TLRY nor SNDL has paid dividends to shareholders.
Financials
TLRY vs. SNDL - Financials Comparison
This section allows you to compare key financial metrics between Tilray, Inc. and Sundial Growers Inc.. 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
TLRY vs. SNDL - Profitability Comparison
TLRY - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Tilray, Inc. reported a gross profit of 54.95M and revenue of 206.73M. Therefore, the gross margin over that period was 26.6%.
SNDL - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Sundial Growers Inc. reported a gross profit of 40.62M and revenue of 199.17M. Therefore, the gross margin over that period was 20.4%.
TLRY - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Tilray, Inc. reported an operating income of -26.39M and revenue of 206.73M, resulting in an operating margin of -12.8%.
SNDL - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Sundial Growers Inc. reported an operating income of -11.47M and revenue of 199.17M, resulting in an operating margin of -5.8%.
TLRY - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Tilray, Inc. reported a net income of 0.00 and revenue of 206.73M, resulting in a net margin of 0.0%.
SNDL - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Sundial Growers Inc. reported a net income of -10.08M and revenue of 199.17M, resulting in a net margin of -5.1%.
Frequently Asked Questions
TLRY and SNDL have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TLRY has higher volatility (11.77%) compared to SNDL (6.77%). In terms of maximum drawdown, TLRY dropped -99.83% vs SNDL's -99.07%.
TLRY currently has the higher Sharpe Ratio (0.21 vs 0.18), 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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