Canna Consumer Correlations
| CBMJ Stock | USD 0.05 0 2.13% |
The current 90-days correlation between Canna Consumer Goods and Global Entertainment Holdings is -0.1 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Canna Consumer moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Canna Consumer Goods moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Canna Consumer Correlation With Market
Average diversification
The correlation between Canna Consumer Goods and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Canna Consumer Goods and DJI in the same portfolio, assuming nothing else is changed.
Canna |
The ability to find closely correlated positions to Canna Consumer could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Canna Consumer 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 Canna Consumer - 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 Canna Consumer Goods to buy it.
Moving together with Canna Pink Sheet
| 0.79 | GPN | Global Payments | PairCorr |
| 0.72 | PPERF | Bank Mandiri Persero | PairCorr |
| 0.74 | PPERY | Bank Mandiri Persero | PairCorr |
| 0.62 | PBCRF | PT Bank Central | PairCorr |
| 0.84 | PBCRY | Bank Central Asia | PairCorr |
Moving against Canna Pink Sheet
| 0.87 | BAOB | Baraboo Bancorporation | PairCorr |
| 0.81 | EC | Ecopetrol SA ADR | PairCorr |
| 0.8 | TLPFY | Teleperformance PK | PairCorr |
| 0.8 | NVRO | Nevro Corp | PairCorr |
| 0.77 | AXSM | Axsome Therapeutics | PairCorr |
| 0.75 | TOI | Oncology Institute Earnings Call This Week | PairCorr |
| 0.72 | SSNLF | Samsung Electronics | PairCorr |
| 0.67 | TCTZF | Tencent Holdings Downward Rally | PairCorr |
| 0.67 | CDR-PB | Cedar Realty Trust | PairCorr |
| 0.62 | TLPFF | Teleperformance SE | PairCorr |
| 0.59 | TRI | Thomson Reuters | PairCorr |
| 0.52 | RBA | RB Global | PairCorr |
| 0.5 | RKLIF | Rentokil Initial plc | PairCorr |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Canna Pink Sheet performing well and Canna Consumer 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 Canna Consumer'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.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| CANL | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| IGPK | 6.13 | 0.86 | 0.11 | 0.35 | 6.21 | 15.56 | 38.62 | |||
| UAMM | 13.73 | 2.95 | 0.19 | 2.03 | 10.23 | 48.28 | 119.80 | |||
| GBHL | 9.64 | 3.10 | 0.00 | 2.05 | 0.00 | 0.00 | 266.67 | |||
| ACCA | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Canna Consumer 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.Did you try this?
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