Im Cannabis Correlations

IMCC Stock

USD 1.79 0.01 0.56%

The current 90-days correlation between Im Cannabis Corp and Clever Leaves Holdings is 0.1 (i.e., Average diversification). The correlation of Im Cannabis 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.

Im Cannabis Correlation With Market

Significant diversification

The correlation between Im Cannabis Corp 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 Im Cannabis Corp and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Im Cannabis Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with IMCC Stock

0.68	EYEN	Eyenovia	Pair Corr
0.65	VOR	Vor Biopharma	Pair Corr
0.73	MOLN	Molecular Partners	Pair Corr
0.76	SNDL	SNDL Inc	Pair Corr
0.74	CLDX	Celldex Therapeutics	Pair Corr
0.77	GKOS	Glaukos Corp	Pair Corr
0.67	ITGR	Integer Holdings Corp	Pair Corr
0.72	LIVN	LivaNova PLC	Pair Corr
0.67	MDAI	Spectral AI	Pair Corr
0.74	MODD	Modular Medical	Pair Corr
0.68	OTRK	Ontrak Inc	Pair Corr
0.82	APYX	Apyx Medical	Pair Corr
0.8	SRDX	SurModics	Pair Corr
0.65	CNMD	CONMED	Pair Corr

Moving against IMCC Stock

0.82	CMRX	Chimerix	Pair Corr
0.64	CPIX	Cumberland Pharmaceuticals Downward Rally	Pair Corr
0.59	FNA	Paragon 28	Pair Corr
0.65	NVRO	Nevro Corp	Pair Corr
0.59	LUCD	Lucid Diagnostics	Pair Corr
0.51	INMD	InMode	Pair Corr
0.42	LUNG	Pulmonx Corp	Pair Corr
0.33	NYXH	Nyxoah	Pair Corr
0.81	BRK-A	Berkshire Hathaway	Pair Corr
0.81	BRK-B	Berkshire Hathaway	Pair Corr
0.78	NHNCF	NAVER Corp	Pair Corr
0.68	PKX	POSCO Holdings	Pair Corr
0.57	FWEDF	Fireweed Zinc	Pair Corr
0.41	TOI	Oncology Institute Earnings Call This Week	Pair Corr

Related Correlations Analysis

	CLVR	KHRNF	ALID	BFRI	UPC	QLI	RAPH	GSAC	AAWH
CLVR		0.23	0.39	0.09	0.26	0.0	-0.22	0.29	-0.03	CLVR
KHRNF	0.23		0.63	0.38	0.85	0.0	-0.46	0.35	0.49	KHRNF
ALID	0.39	0.63		-0.09	0.75	0.0	-0.55	0.02	0.25	ALID
BFRI	0.09	0.38	-0.09		0.26	0.0	0.01	0.32	0.57	BFRI
UPC	0.26	0.85	0.75	0.26		0.0	-0.71	0.08	0.53	UPC
QLI	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	QLI
RAPH	-0.22	-0.46	-0.55	0.01	-0.71	0.0		0.07	-0.37	RAPH
GSAC	0.29	0.35	0.02	0.32	0.08	0.0	0.07		0.05	GSAC
AAWH	-0.03	0.49	0.25	0.57	0.53	0.0	-0.37	0.05		AAWH
	CLVR	KHRNF	ALID	BFRI	UPC	QLI	RAPH	GSAC	AAWH

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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

UPC	+ 0.85	KHRNF
UPC	+ 0.75	ALID
ALID	+ 0.63	KHRNF
AAWH	+ 0.57	BFRI
AAWH	+ 0.53	UPC
AAWH	+ 0.49	KHRNF

High negative correlations

RAPH	- 0.71	UPC
RAPH	- 0.55	ALID
RAPH	- 0.46	KHRNF
AAWH	- 0.37	RAPH
RAPH	- 0.22	CLVR
BFRI	- 0.09	ALID

Risk-Adjusted Indicators

There is a big difference between IMCC Stock performing well and Im 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 Im 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
CLVR	526.53	280.53	3.16	3.49	37.07	(2,335)	150.00	(91.67)	12,500
KHRNF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ALID	9.03	0.86	0.04	(2.97)	12.61	(23.81)	31.80	(19.03)	141.15
BFRI	2.95	0.12	0.02	0.02	3.70	(3.51)	6.36	(7.08)	18.22
UPC	6.37	(2.97)	0.00	1.14	0.00	0.00	8.33	(20.00)	62.86
QLI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RAPH	5.05	2.76	0.00	1.57	0.00	0.00	0.00	0.00	87.50
GSAC	2.26	(0.05)	0.00	(0.11)	0.00	0.00	0.00	0.00	58.33
AAWH	3.94	0.04	0.01	0.01	4.72	(5.02)	8.57	(9.30)	21.68

Im Cannabis Corporate Management

Shai Shemesh	Chief Officer	Profile
Advocate Nissimov	General Counsel	Profile
Michael Ruscetta	Chief Corp	Profile
Richard Balla	Chief Adjupharm	Profile
Rinat Efrima	Chief Israel	Profile
Howard CFA	Chief MYM	Profile

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