Greater Cannabis Correlations

GCAN Stock

USD 0.0008 0.0001 14.29%

The current 90-days correlation between Greater Cannabis and Cannabis Suisse Corp is -0.02 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Greater Cannabis moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Greater Cannabis moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Greater Cannabis Correlation With Market

Average diversification

The correlation between Greater Cannabis and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Greater Cannabis and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Greater Cannabis could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Greater Cannabis 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 Greater Cannabis - 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 Greater Cannabis to buy it.

Moving against Greater Pink Sheet

0.44	PTAIY	Astra International Tbk	Pair Corr
0.41	PPERF	Bank Mandiri Persero	Pair Corr
0.36	TLK	Telkom Indonesia Tbk	Pair Corr
0.34	PPERY	Bank Mandiri Persero	Pair Corr
0.71	MSFT	Microsoft	Pair Corr
0.35	DIS	Walt Disney	Pair Corr

Related Correlations Analysis

	GBHPF	CSUI	MGWFF	MSMY	TMSH	GXXY	GSAC	DVLP	MKGAF	MKKGY
GBHPF		0.11	-0.18	0.22	0.16	-0.12	-0.16	0.03	-0.08	-0.1	GBHPF
CSUI	0.11		0.24	-0.38	-0.06	0.05	0.14	-0.05	0.13	0.08	CSUI
MGWFF	-0.18	0.24		-0.28	-0.18	0.3	0.17	0.04	-0.03	0.2	MGWFF
MSMY	0.22	-0.38	-0.28		-0.06	-0.07	-0.08	-0.01	-0.28	-0.29	MSMY
TMSH	0.16	-0.06	-0.18	-0.06		-0.47	-0.41	-0.17	0.07	0.15	TMSH
GXXY	-0.12	0.05	0.3	-0.07	-0.47		0.56	0.02	0.28	0.24	GXXY
GSAC	-0.16	0.14	0.17	-0.08	-0.41	0.56		0.49	0.5	0.38	GSAC
DVLP	0.03	-0.05	0.04	-0.01	-0.17	0.02	0.49		0.2	0.24	DVLP
MKGAF	-0.08	0.13	-0.03	-0.28	0.07	0.28	0.5	0.2		0.73	MKGAF
MKKGY	-0.1	0.08	0.2	-0.29	0.15	0.24	0.38	0.24	0.73		MKKGY
	GBHPF	CSUI	MGWFF	MSMY	TMSH	GXXY	GSAC	DVLP	MKGAF	MKKGY

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

MKKGY	+ 0.73	MKGAF
GSAC	+ 0.56	GXXY
MKGAF	+ 0.5	GSAC
DVLP	+ 0.49	GSAC
MKKGY	+ 0.38	GSAC
GXXY	+ 0.3	MGWFF

High negative correlations

GXXY	- 0.47	TMSH
GSAC	- 0.41	TMSH
MSMY	- 0.38	CSUI
MKKGY	- 0.29	MSMY
MKGAF	- 0.28	MSMY
MSMY	- 0.28	MGWFF

Risk-Adjusted Indicators

There is a big difference between Greater Pink Sheet performing well and Greater Cannabis 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 Greater Cannabis' 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
GBHPF	25.37	7.30	0.18	3.99	18.81	(90.38)	100.00	(47.00)	374.38
CSUI	24.97	6.25	0.16	0.52	20.74	(60.40)	99.29	(51.85)	185.13
MGWFF	6.37	(0.14)	0.00	(0.10)	0.00	0.00	23.33	(20.69)	51.02
MSMY	9.42	2.02	0.07	1.07	9.91	(33.94)	28.57	(22.22)	124.44
TMSH	7.76	1.90	0.00	0.19	0.00	0.00	0.00	0.00	150.00
GXXY	11.93	2.00	0.10	0.25	10.33	(62.60)	28.00	(29.20)	264.15
GSAC	3.98	0.52	0.00	0.15	0.00	0.00	33.33	(25.00)	58.33
DVLP	3.39	(1.79)	0.00	0.19	0.00	0.00	0.00	0.00	100.00
MKGAF	2.14	0.06	0.02	0.10	2.58	(2.21)	5.43	(4.48)	13.85
MKKGY	1.07	(0.08)	0.00	(0.21)	0.00	0.00	2.23	(2.20)	7.90

Be your own money manager

Our tools can tell you how much better you can do entering a position in Greater Cannabis 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?

Run Idea Analyzer Now

Idea Analyzer

Analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC