Tilray Correlations

TLRY Stock

USD 0.65 0.01 1.56%

The current 90-days correlation between Tilray Inc and Cronos Group is 0.12 (i.e., Average diversification). The correlation of Tilray 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.

Tilray Correlation With Market

Modest diversification

The correlation between Tilray Inc and DJI is 0.21 (i.e., Modest 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.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Tilray Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Tilray Stock

0.87	EYEN	Eyenovia	Pair Corr
0.93	CGC	Canopy Growth Corp	Pair Corr
0.87	ISPC	iSpecimen	Pair Corr
0.69	ITOS	Iteos Therapeutics	Pair Corr
0.69	MOLN	Molecular Partners	Pair Corr
0.91	MREO	Mereo BioPharma Group	Pair Corr
0.96	ANNX	Annexon Earnings Call This Week	Pair Corr
0.94	ASMB	Assembly Biosciences Earnings Call This Week	Pair Corr
0.81	SNDL	SNDL Inc	Pair Corr
0.9	BLUE	Bluebird bio Earnings Call This Week	Pair Corr
0.91	CLDX	Celldex Therapeutics	Pair Corr
0.8	CRNX	Crinetics Pharmaceuticals	Pair Corr
0.78	GKOS	Glaukos Corp	Pair Corr
0.62	ITGR	Integer Holdings Corp	Pair Corr
0.71	LIVN	LivaNova PLC	Pair Corr

Moving against Tilray Stock

0.89	NVRO	Nevro Corp	Pair Corr
0.85	CPIX	Cumberland Pharmaceuticals	Pair Corr
0.85	LUCD	Lucid Diagnostics Buyout Trend	Pair Corr
0.84	FNA	Paragon 28	Pair Corr
0.83	CMRX	Chimerix Sell-off Trend	Pair Corr
0.73	INMD	InMode	Pair Corr
0.62	LUNG	Pulmonx Corp	Pair Corr
0.53	NYXH	Nyxoah	Pair Corr
0.34	CYTH	Cyclo Therapeutics	Pair Corr
0.34	MASI	Masimo	Pair Corr

Related Correlations Analysis

	CGC	CRON	HEXO	SNDL	ACB	OGI	CURLF
CGC		0.28	0.0	0.77	-0.24	0.87	0.85	CGC
CRON	0.28		0.0	0.39	0.25	0.24	0.35	CRON
HEXO	0.0	0.0		0.0	0.0	0.0	0.0	HEXO
SNDL	0.77	0.39	0.0		0.17	0.88	0.89	SNDL
ACB	-0.24	0.25	0.0	0.17		-0.17	0.17	ACB
OGI	0.87	0.24	0.0	0.88	-0.17		0.85	OGI
CURLF	0.85	0.35	0.0	0.89	0.17	0.85		CURLF
	CGC	CRON	HEXO	SNDL	ACB	OGI	CURLF

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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

CURLF	+ 0.89	SNDL
OGI	+ 0.88	SNDL
OGI	+ 0.87	CGC
CURLF	+ 0.85	CGC
CURLF	+ 0.85	OGI
SNDL	+ 0.77	CGC

High negative correlations

ACB	- 0.24	CGC
OGI	- 0.17	ACB
CURLF	- 0.0	HEXO
OGI	- 0.0	HEXO
ACB	- 0.0	HEXO
SNDL	- 0.0	HEXO

Risk-Adjusted Indicators

There is a big difference between Tilray Stock performing well and Tilray 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 Tilray'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
CGC	3.83	(1.27)	0.00	(0.72)	0.00	0.00	5.59	(8.12)	49.56
CRON	1.72	(0.09)	0.00	(0.44)	0.00	0.00	3.59	(3.02)	13.50
HEXO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SNDL	2.21	(0.15)	0.00	(0.30)	0.00	0.00	4.62	(3.90)	11.94
ACB	3.69	0.31	0.07	0.12	3.43	(5.07)	6.36	(5.21)	53.14
OGI	2.94	(0.40)	0.00	(0.65)	0.00	0.00	5.23	(6.87)	24.05
CURLF	3.68	(0.56)	0.00	(0.58)	0.00	0.00	10.22	(7.04)	27.42

Tilray Corporate Management

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

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