Tilray Correlations

TLRY Stock

CAD 0.96 0.04 4.35%

The current 90-days correlation between Tilray Inc and Cronos Group is 0.42 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Tilray moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Tilray Inc moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Tilray Correlation With Market

Average diversification

The correlation between Tilray Inc and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tilray Inc and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Tilray Stock

0.61	GOOG	Alphabet CDR	Pair Corr
0.62	NVDA	NVIDIA CDR	Pair Corr

Moving against Tilray Stock

0.88	ARG	Amerigo Resources	Pair Corr
0.84	EDT	Spectral Med Earnings Call This Week	Pair Corr
0.83	WCN	Waste Connections	Pair Corr
0.82	ASCU	Arizona Sonoran Copper	Pair Corr
0.73	JNJ	Johnson Johnson CDR	Pair Corr
0.72	SSV	Southern Silver Expl Earnings Call This Week	Pair Corr
0.7	BRK	Berkshire Hathaway CDR	Pair Corr
0.68	K	Kinross Gold Corp	Pair Corr
0.66	VCI	Vitreous Glass	Pair Corr
0.66	KNT	K92 Mining	Pair Corr
0.58	PCAA-P	PC 1 Corp	Pair Corr
0.52	VISA	Visa Inc CDR	Pair Corr
0.52	FF	First Mining Gold	Pair Corr
0.45	SAM	Starcore International	Pair Corr
0.43	CNT	Century Global Commo	Pair Corr
0.43	TGX	True North Gems	Pair Corr
0.42	PPL	Pembina Pipeline Corp	Pair Corr
0.41	PPL-PC	Pembina Pipeline Corp	Pair Corr
0.32	MTN-H	Martina Minerals Corp	Pair Corr
0.94	AGI	Alamos Gold	Pair Corr
0.9	MNT-U	ROYAL CANADIAN MINT	Pair Corr
0.87	III	Imperial Metals	Pair Corr
0.86	ERD	Erdene Resource Deve	Pair Corr
0.85	VGZ	Vista Gold	Pair Corr
0.8	RIO	Rio2	Pair Corr
0.78	EPL	Eagle Plains Resources	Pair Corr
0.77	TMQ	Trilogy Metals	Pair Corr
0.77	RAY-A	Stingray Group	Pair Corr
0.73	IPCO	International Petroleum	Pair Corr

Related Correlations Analysis

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Be your own money manager

Our tools can tell you how much better you can do entering a position in Tilray 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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Tilray Corporate Management

Elected by the shareholders, the Tilray's board of directors comprises two types of representatives: Tilray inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Tilray. The board's role is to monitor Tilray's management team and ensure that shareholders' interests are well served. Tilray'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, Tilray's outside directors are responsible for providing unbiased perspectives on the board's policies.

Lloyd Brathwaite	Chief Officer	Profile
Randy Daigneau	Senior Chain	Profile
Mitchell Gendel	Global Secretary	Profile
John Sadler	Vice Relations	Profile

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