1606 Corp Correlations

Pink Sheets . USA . 
Stock . 1606 Corp
CBDW Stock   0.01  0  18.75%   
The current 90-days correlation between 1606 Corp and Imperial Brands PLC is -0.03 (i.e., Good diversification). The correlation of 1606 Corp is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

1606 Corp Correlation With Market

Significant diversification

The correlation between 1606 Corp and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding 1606 Corp and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to 1606 Corp could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 1606 Corp 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 1606 Corp - 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 1606 Corp to buy it.

Moving together with 1606 Pink Sheet

  0.65JAPAY Japan Tobacco ADRPairCorr
  0.61JAPAF Japan TobaccoPairCorr
  0.75BKRKF PT Bank RakyatPairCorr
  0.88BKRKY Bank RakyatPairCorr
  0.83PPERY Bank Mandiri PerseroPairCorr
  0.75PPERF Bank Mandiri PerseroPairCorr
  0.65PBCRY Bank Central AsiaPairCorr
  0.65PTBRY Bank Negara Indonesia Normal TradingPairCorr

Moving against 1606 Pink Sheet

  0.82SECYF Secure Energy ServicesPairCorr
  0.77BAC Bank of America Fiscal Year End 10th of January 2025 PairCorr
  0.76MSTR MicroStrategy Incorporated Buyout TrendPairCorr
  0.74ORCL OraclePairCorr
  0.68MZHOF Mizuho FinancialPairCorr
  0.65PM Philip Morris InternPairCorr
  0.65DORM Dorman ProductsPairCorr
  0.63IMBBY Imperial Brands PLCPairCorr
  0.63IMBBF Imperial Brands PLCPairCorr
  0.63LUNR Intuitive MachinesPairCorr
  0.62APLD Applied BlockchainPairCorr
  0.57GLBE Global E OnlinePairCorr
  0.55MO Altria GroupPairCorr
  0.55MBFJF Mitsubishi UFJ FinancialPairCorr
  0.49SOUN SoundHound AI TrendingPairCorr
  0.48KULR KULR Technology Group Aggressive PushPairCorr
  0.4SDIG Stronghold Digital MiningPairCorr
  0.4KOPN KopinPairCorr
  0.86NVDA NVIDIAPairCorr
  0.8VST Vistra Energy CorpPairCorr
  0.7955607PAE5 MQGAU 5376057 23PairCorr
  0.79SOFI SoFi TechnologiesPairCorr
  0.77OPRA OperaPairCorr
  0.77AVTE Aerovate TherapeuticsPairCorr
  0.76PYPL PayPal Holdings Aggressive PushPairCorr
  0.76APH Amphenol Fiscal Year End 22nd of January 2025 PairCorr
  0.75IONQ IONQ IncPairCorr

Related Correlations Analysis

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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   
UVV
+ 0.91
TPB
TPB
+ 0.88
IMBBY
IMBBF
+ 0.88
IMBBY
UVV
+ 0.85
IMBBY
IMBBF
+ 0.75
TPB
PM
+ 0.7
TPB
  
High negative correlations   
XXII
- 0.71
TPB
XXII
- 0.59
IMBBY
PM
- 0.57
XXII
XXII
- 0.57
IMBBF
XXII
- 0.46
UVV
XXII
- 0.13
RLX

Risk-Adjusted Indicators

There is a big difference between 1606 Pink Sheet performing well and 1606 Corp 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 1606 Corp'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 1606 Corp 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.

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