Google Chrome’s team added a new releases channel for early adopters and developers: Canary builds. Unlike the beta channel and the dev channel, Canary builds can be installed without overwriting a regular Chrome build. That means you can install both a Canary build and a regular build that could be on the stable, beta or dev channel.
The Canary build is only available for Windows, it’s “installed to a different path, gets updated separately, and runs side by side with an existing stable/beta/dev installation”. Google says that the Canary build will usually be the same as the dev build. “Sometimes if necessary, we may push additional updates on Canary build so its version is higher than dev.”