Canna Global Correlations
| CNGLDelisted Stock | USD 11.41 0.40 3.63% |
The current 90-days correlation between Canna Global Acquisition and Newcourt Acquisition Corp is -0.07 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Canna Global moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Canna Global Acquisition moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Canna Global Correlation With Market
Significant diversification
The correlation between Canna Global Acquisition and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Canna Global Acquisition and DJI in the same portfolio, assuming nothing else is changed.
Canna |
Moving against Canna Stock
| 0.63 | DUET | DUET Acquisition Corp | PairCorr |
| 0.55 | DPCS | DP Cap Acquisition | PairCorr |
| 0.53 | DTSQ | DT Cloud Star | PairCorr |
| 0.5 | DIST | Distoken Acquisition | PairCorr |
| 0.48 | YHNAU | YHN Acquisition I | PairCorr |
| 0.48 | ROCLW | Roth CH Acquisition | PairCorr |
| 0.62 | WTMA | Welsbach Technology | PairCorr |
| 0.39 | EMCG | Embrace Change Acqui | PairCorr |
Related Correlations Analysis
| 0.35 | 0.4 | 0.39 | 0.45 | SPCMU | ||
| 0.35 | 0.54 | 0.85 | 0.89 | JAQCU | ||
| 0.4 | 0.54 | 0.53 | 0.67 | WAVS | ||
| 0.39 | 0.85 | 0.53 | 0.92 | XPAX | ||
| 0.45 | 0.89 | 0.67 | 0.92 | NCAC | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Risk-Adjusted Indicators
There is a big difference between Canna Stock performing well and Canna Global 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 Canna Global'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| SPCMU | 0.22 | 0.02 | (0.06) | 2.21 | 0.55 | 0.47 | 8.48 | |||
| JAQCU | 0.09 | 0.03 | 0.00 | (0.87) | 0.00 | 0.39 | 1.38 | |||
| WAVS | 1.08 | 0.10 | (0.02) | (0.22) | 1.55 | 3.35 | 12.07 | |||
| XPAX | 0.06 | 0.01 | 0.00 | 0.86 | 0.00 | 0.19 | 0.68 | |||
| NCAC | 0.16 | 0.05 | 0.00 | (1.74) | 0.00 | 0.65 | 2.45 |
Canna Global Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Canna Global stock to make a market-neutral strategy. Peer analysis of Canna Global could also be used in its relative valuation, which is a method of valuing Canna Global by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Still Interested in Canna Global Acquisition?
Investing in delisted delisted stocks can be risky, as the stock is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.