1606 Corp Correlations

CBDW Stock

0.01 0 9.09%

The current 90-days correlation between 1606 Corp and British American Tobacco is 0.06 (i.e., Significant diversification). The correlation of 1606 Corp 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.

1606 Corp Correlation With Market

Good diversification

The correlation between 1606 Corp and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding 1606 Corp and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to 1606 Corp could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 1606 Corp 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 1606 Corp - 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 1606 Corp to buy it.

Moving together with 1606 Pink Sheet

0.67	BTI	British American Tobacco	Pair Corr
0.64	JAPAY	Japan Tobacco ADR	Pair Corr
0.65	JAPAF	Japan Tobacco Upward Rally	Pair Corr
0.67	BKRKF	PT Bank Rakyat	Pair Corr
0.79	BKRKY	Bank Rakyat	Pair Corr
0.76	TLK	Telkom Indonesia Tbk	Pair Corr
0.64	PPERF	Bank Mandiri Persero	Pair Corr
0.71	PPERY	Bank Mandiri Persero	Pair Corr
0.61	AMIX	Autonomix Medical, Common	Pair Corr

Moving against 1606 Pink Sheet

0.88	NVDA	NVIDIA	Pair Corr
0.79	SSNLF	Samsung Electronics	Pair Corr
0.73	ADSK	Autodesk	Pair Corr
0.65	PTAIF	PT Astra International	Pair Corr
0.53	IMBBF	Imperial Brands PLC	Pair Corr
0.48	IMBBY	Imperial Brands PLC	Pair Corr
0.46	RCAT	Red Cat Holdings Trending	Pair Corr
0.45	PM	Philip Morris Intern	Pair Corr
0.43	TLKMF	Telkom Indonesia Tbk	Pair Corr
0.78	STLD	Steel Dynamics Fiscal Year End 28th of January 2025	Pair Corr
0.77	LLYVK	Liberty Media	Pair Corr
0.75	ALAB	Astera Labs, Common Tech Boost	Pair Corr
0.75	DECK	Deckers Outdoor	Pair Corr
0.74	MRVL	Marvell Technology Earnings Call This Week	Pair Corr
0.73	CRWD	Crowdstrike Holdings Earnings Call This Week	Pair Corr
0.71	SCHW	Charles Schwab Corp Fiscal Year End 15th of January 2025	Pair Corr
0.68	PYPL	PayPal Holdings	Pair Corr
0.68	GVA	Granite Construction	Pair Corr
0.65	ZM	Zoom Video Communications Earnings Call This Week	Pair Corr
0.63	GM	General Motors Aggressive Push	Pair Corr
0.63	KSCP	Knightscope	Pair Corr
0.62	ITRI	Itron Inc	Pair Corr
0.58	ET	Energy Transfer LP Aggressive Push	Pair Corr
0.52	SNOW	Snowflake Trending	Pair Corr
0.5	APLD	Applied Blockchain Trending	Pair Corr
0.46	DXYZ	Destiny Tech100	Pair Corr

Related Correlations Analysis

	BTAFF	IMBBY	RLX	BTI	TPB	IMBBF	UVV	JAPAF	XXII	PM
BTAFF		-0.22	0.29	0.8	-0.35	-0.28	0.04	0.56	0.51	-0.34	BTAFF
IMBBY	-0.22		-0.37	-0.14	0.75	0.77	0.2	-0.39	-0.73	0.64	IMBBY
RLX	0.29	-0.37		0.15	-0.05	-0.26	0.16	0.11	0.24	-0.36	RLX
BTI	0.8	-0.14	0.15		-0.24	-0.3	0.23	0.46	0.49	-0.16	BTI
TPB	-0.35	0.75	-0.05	-0.24		0.57	0.57	-0.56	-0.65	0.61	TPB
IMBBF	-0.28	0.77	-0.26	-0.3	0.57		0.03	-0.4	-0.63	0.58	IMBBF
UVV	0.04	0.2	0.16	0.23	0.57	0.03		-0.17	0.08	0.13	UVV
JAPAF	0.56	-0.39	0.11	0.46	-0.56	-0.4	-0.17		0.35	-0.7	JAPAF
XXII	0.51	-0.73	0.24	0.49	-0.65	-0.63	0.08	0.35		-0.52	XXII
PM	-0.34	0.64	-0.36	-0.16	0.61	0.58	0.13	-0.7	-0.52		PM
	BTAFF	IMBBY	RLX	BTI	TPB	IMBBF	UVV	JAPAF	XXII	PM

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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

BTI	+ 0.8	BTAFF
IMBBF	+ 0.77	IMBBY
TPB	+ 0.75	IMBBY
PM	+ 0.64	IMBBY
PM	+ 0.61	TPB
PM	+ 0.58	IMBBF

High negative correlations

XXII	- 0.73	IMBBY
PM	- 0.7	JAPAF
XXII	- 0.65	TPB
XXII	- 0.63	IMBBF
JAPAF	- 0.56	TPB
PM	- 0.52	XXII

Risk-Adjusted Indicators

There is a big difference between 1606 Pink Sheet performing well and 1606 Corp 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 1606 Corp'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
BTAFF	1.88	0.08	(0.01)	(0.25)	2.44	(1.94)	5.06	(4.19)	12.08
IMBBY	0.86	0.20	0.11	1.61	0.74	(1.03)	2.36	(1.43)	7.84
RLX	2.45	0.06	(0.02)	(0.24)	3.23	(2.84)	6.25	(6.67)	18.88
BTI	0.73	0.04	(0.04)	0.47	1.04	(0.73)	1.28	(1.32)	4.63
TPB	1.54	0.63	0.47	1.07	0.59	(1.95)	4.76	(1.47)	10.20
IMBBF	2.22	0.13	0.02	0.56	2.55	(2.46)	5.01	(5.02)	11.56
UVV	1.03	0.02	0.00	0.13	1.00	(1.24)	2.44	(1.41)	5.89
JAPAF	1.31	0.01	(0.01)	0.13	2.09	(6.23)	5.88	(4.59)	19.67
XXII	6.75	(2.27)	0.00	(2.33)	0.00	0.00	11.54	(15.38)	44.68
PM	0.98	0.20	0.04	(0.38)	1.26	(1.01)	1.99	(1.84)	15.67

Be your own money manager

Our tools can tell you how much better you can do entering a position in 1606 Corp 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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