Target Correlations

CBDY Stock

USD 0 0.0001 5.88%

The current 90-days correlation between Target Group and CannaPharmaRx is -0.01 (i.e., Good diversification). The correlation of Target 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.

Target Correlation With Market

Modest diversification

The correlation between Target Group and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Target Group and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Target Pink Sheet

0.48	MH	McGraw Hill	Pair Corr
0.46	TAK	Takeda Pharmaceutical	Pair Corr
0.46	TKPHF	Takeda Pharmaceutical	Pair Corr
0.45	TEVA	Teva Pharmaceutical	Pair Corr
0.42	MKGAF	MERCK Kommanditgesells	Pair Corr
0.38	HLN	Haleon plc	Pair Corr
0.35	MKKGY	Merck KGaA ADR	Pair Corr
0.35	TEVA	Teva Pharma Industries	Pair Corr
0.31	HLNCF	Haleon plc	Pair Corr
0.46	EBRZF	Enbridge	Pair Corr
0.44	DVNHF	Frontier Services	Pair Corr
0.35	SMEGF	Siemens Energy AG	Pair Corr
0.34	RIOFF	Rio2 Limited	Pair Corr
0.31	NTR	Nutrien	Pair Corr
0.48	RMGGF	Resolute Mining	Pair Corr
0.45	BNPQY	BNP Paribas SA	Pair Corr
0.43	PITAF	Poste Italiane SpA	Pair Corr
0.41	FOSL	Fossil Group	Pair Corr
0.36	HL	Hecla Mining Aggressive Push	Pair Corr
0.36	BIIB	Biogen Inc	Pair Corr

Related Correlations Analysis

	CPMD	EXMT	ALID	LVVEF	SRUTF	BMMJ	MJNA	MSTH	BINP	PHBI
CPMD		-0.14	-0.6	0.0	0.0	-0.33	0.07	-0.11	0.1	0.48	CPMD
EXMT	-0.14		0.28	0.0	0.0	0.05	0.16	0.04	-0.16	-0.27	EXMT
ALID	-0.6	0.28		0.0	0.0	0.28	-0.28	0.32	-0.24	-0.77	ALID
LVVEF	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	LVVEF
SRUTF	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	SRUTF
BMMJ	-0.33	0.05	0.28	0.0	0.0		0.05	0.32	-0.39	-0.33	BMMJ
MJNA	0.07	0.16	-0.28	0.0	0.0	0.05		0.16	0.01	0.14	MJNA
MSTH	-0.11	0.04	0.32	0.0	0.0	0.32	0.16		-0.26	-0.47	MSTH
BINP	0.1	-0.16	-0.24	0.0	0.0	-0.39	0.01	-0.26		0.27	BINP
PHBI	0.48	-0.27	-0.77	0.0	0.0	-0.33	0.14	-0.47	0.27		PHBI
	CPMD	EXMT	ALID	LVVEF	SRUTF	BMMJ	MJNA	MSTH	BINP	PHBI

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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

PHBI	+ 0.48	CPMD
MSTH	+ 0.32	ALID
MSTH	+ 0.32	BMMJ
ALID	+ 0.28	EXMT
BMMJ	+ 0.28	ALID
PHBI	+ 0.27	BINP

High negative correlations

PHBI	- 0.77	ALID
ALID	- 0.6	CPMD
PHBI	- 0.47	MSTH
BINP	- 0.39	BMMJ
PHBI	- 0.33	BMMJ
BMMJ	- 0.33	CPMD

Risk-Adjusted Indicators

There is a big difference between Target Pink Sheet performing well and Target 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 Target'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
CPMD	12.84	3.00	0.12	(1.22)	12.82	(29.27)	38.46	(23.86)	159.29
EXMT	12.96	2.14	0.07	(1.43)	12.44	(40.91)	33.33	(25.00)	133.33
ALID	2.85	(1.11)	0.00	0.38	0.00	0.00	0.00	0.00	95.50
LVVEF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SRUTF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BMMJ	16.72	1.49	0.06	(0.54)	19.48	(17.97)	48.57	(32.31)	121.50
MJNA	28.60	8.18	0.16	(1.11)	22.09	(75.00)	100.00	(50.00)	266.67
MSTH	22.41	9.10	0.00	1.69	0.00	0.00	0.00	0.00	721.39
BINP	12.98	4.17	0.10	(0.50)	13.83	(31.85)	35.00	(36.36)	176.17
PHBI	8.89	1.98	0.22	0.54	7.25	(14.12)	29.41	(15.62)	73.78

Be your own money manager

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