| AVCN Stock | | | CAD 0.28 0.04 12.50% |
The current 90-days correlation between Avicanna Inc and Pharmacielo is -0.01 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Avicanna Inc moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Avicanna moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Avicanna Inc Correlation With Market
Significant diversification
The correlation between Avicanna and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Avicanna and DJI in the same portfolio, assuming nothing else is changed.
The ability to find closely correlated positions to Avicanna Inc could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Avicanna Inc when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Avicanna Inc - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Avicanna to buy it.
Moving against Avicanna Inc Stock
Related Correlations Analysis
Correlation Matchups
Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations | CWEB | | CRDL | | CWEB | | PCLO | | CRDL | | PCLO | | CWEB | | LABS |
| | High negative correlations |
Risk-Adjusted IndicatorsThere is a big difference between Avicanna Inc Stock performing well and Avicanna Inc Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Avicanna Inc's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.
Be your own money manager
Our tools can tell you how much better you can do entering a position in Avicanna Inc without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.
| | Economic IndicatorsTop statistical indicators that provide insights into how an economy is performing |
Avicanna Inc Corporate Management
Elected by the shareholders, the Avicanna Inc's board of directors comprises two types of representatives: Avicanna Inc inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Avicanna Inc. The board's role is to monitor Avicanna Inc's management team and ensure that shareholders' interests are well served. Avicanna Inc's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Avicanna Inc's outside directors are responsible for providing unbiased perspectives on the board's policies.