Cannabotech Correlations

CNTC Stock

117.90 4.40 3.60%

The current 90-days correlation between Cannabotech and Electreon Wireless is 0.03 (i.e., Significant diversification). The correlation of Cannabotech 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.

Cannabotech Correlation With Market

Good diversification

The correlation between Cannabotech and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cannabotech and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Cannabotech Stock

0.63	SAFE	Safe T Group	Pair Corr
0.75	BMDX	Biomedix Incubator	Pair Corr
0.7	FVT	Ai Conversation Systems	Pair Corr

Moving against Cannabotech Stock

0.59	ICL	ICL Israel Chemicals	Pair Corr
0.59	RMLI	Rami Levi	Pair Corr
0.59	LUMI	Bank Leumi Le	Pair Corr
0.58	HLAN	Hilan	Pair Corr
0.56	RANI	Rani Zim Shopping	Pair Corr
0.54	TSEM	Tower Semiconductor	Pair Corr
0.53	DLEKG	Delek Group	Pair Corr
0.7	LSCO	Lesico	Pair Corr
0.67	PLSN	Plasson Indus	Pair Corr
0.66	ECP	Electra Co Pr	Pair Corr
0.62	MTAV	MEITAV INVESTMENTS HOUSE	Pair Corr
0.61	MVNE	Mivne Real Estate	Pair Corr
0.6	TATT	TAT Technologies	Pair Corr
0.6	MPRS	MediPress Health Lim	Pair Corr
0.6	MTRX	Matrix	Pair Corr
0.57	ELRN	Elron Electronic Ind	Pair Corr
0.55	AZRM	Azorim Investment	Pair Corr
0.52	FOX	Fox Wizel	Pair Corr
0.52	DLEA	Delek Automotive Systems	Pair Corr
0.44	MZTF	Mizrahi Tefahot	Pair Corr
0.41	TTAM	Tiv Taam	Pair Corr
0.39	DIMRI	YH Dimri Construction	Pair Corr
0.34	BSEN	Bet Shemesh Engines	Pair Corr

Related Correlations Analysis

	ELWS	BEZQ	GLTL	AMOT	MTDS	ANLT	ARAD	OPK
ELWS		-0.32	-0.46	-0.67	-0.69	-0.52	-0.85	0.19	ELWS
BEZQ	-0.32		-0.19	-0.05	-0.25	-0.37	-0.03	0.4	BEZQ
GLTL	-0.46	-0.19		0.42	0.73	0.89	0.63	-0.59	GLTL
AMOT	-0.67	-0.05	0.42		0.71	0.39	0.78	-0.11	AMOT
MTDS	-0.69	-0.25	0.73	0.71		0.8	0.91	-0.4	MTDS
ANLT	-0.52	-0.37	0.89	0.39	0.8		0.64	-0.52	ANLT
ARAD	-0.85	-0.03	0.63	0.78	0.91	0.64		-0.31	ARAD
OPK	0.19	0.4	-0.59	-0.11	-0.4	-0.52	-0.31		OPK
	ELWS	BEZQ	GLTL	AMOT	MTDS	ANLT	ARAD	OPK

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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

ARAD	+ 0.91	MTDS
ANLT	+ 0.89	GLTL
ANLT	+ 0.8	MTDS
ARAD	+ 0.78	AMOT
MTDS	+ 0.73	GLTL
MTDS	+ 0.71	AMOT

High negative correlations

ARAD	- 0.85	ELWS
MTDS	- 0.69	ELWS
AMOT	- 0.67	ELWS
OPK	- 0.59	GLTL
OPK	- 0.52	ANLT
ANLT	- 0.52	ELWS

Risk-Adjusted Indicators

There is a big difference between Cannabotech Stock performing well and Cannabotech 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 Cannabotech'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
ELWS	2.65	(0.13)	0.00	0.42	0.00	0.00	4.27	(7.08)	23.26
BEZQ	1.25	0.53	0.44	0.77	0.67	(1.56)	3.25	(1.54)	8.84
GLTL	2.03	0.36	0.17	(0.95)	1.68	(2.66)	6.32	(2.94)	13.04
AMOT	1.05	0.55	0.50	7.04	0.24	(1.34)	3.68	(1.66)	6.56
MTDS	1.65	1.39	1.04	3.13	0.00	(2.35)	5.27	(1.31)	14.18
ANLT	1.28	1.22	1.48	9.41	0.00	(1.73)	5.62	(0.57)	8.45
ARAD	2.49	1.14	0.44	6.41	1.59	(3.10)	6.20	(3.84)	15.88
OPK	2.93	(0.01)	0.00	0.07	0.00	0.00	7.27	(5.29)	16.61

Be your own money manager

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