Cronos Correlations

CRON Stock

USD 2.58 0.07 2.79%

The current 90-days correlation between Cronos Group and Pacira BioSciences is 0.12 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Cronos moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Cronos Group moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Cronos Correlation With Market

Very weak diversification

The correlation between Cronos Group and DJI is 0.5 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cronos Group and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Cronos Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Cronos Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with Cronos Stock

0.61	EVOK	Evoke Pharma	Pair Corr
0.66	URBN	Urban Outfitters	Pair Corr
0.64	AXP	American Express	Pair Corr

Moving against Cronos Stock

0.57	PIFMY	Indofood Sukses Makmur	Pair Corr
0.46	SNY	Sanofi ADR	Pair Corr
0.45	ALTS	ALT5 Sigma	Pair Corr
0.42	KALA	Kala Pharmaceuticals	Pair Corr

Related Correlations Analysis

	PCRX	COLL	EMBC	IRMD	AMPH	RAPP	NRIX	BBOT	XNCR	PHAT
PCRX		0.49	-0.05	0.11	0.28	0.61	0.31	0.18	0.61	0.74	PCRX
COLL	0.49		-0.45	0.72	0.59	0.37	0.74	0.11	0.28	0.58	COLL
EMBC	-0.05	-0.45		-0.7	-0.2	-0.41	-0.69	0.05	0.18	-0.19	EMBC
IRMD	0.11	0.72	-0.7		0.47	0.34	0.88	-0.08	-0.21	0.37	IRMD
AMPH	0.28	0.59	-0.2	0.47		0.21	0.45	0.05	0.08	0.48	AMPH
RAPP	0.61	0.37	-0.41	0.34	0.21		0.64	-0.08	0.42	0.68	RAPP
NRIX	0.31	0.74	-0.69	0.88	0.45	0.64		-0.04	0.11	0.5	NRIX
BBOT	0.18	0.11	0.05	-0.08	0.05	-0.08	-0.04		0.14	0.0	BBOT
XNCR	0.61	0.28	0.18	-0.21	0.08	0.42	0.11	0.14		0.31	XNCR
PHAT	0.74	0.58	-0.19	0.37	0.48	0.68	0.5	0.0	0.31		PHAT
	PCRX	COLL	EMBC	IRMD	AMPH	RAPP	NRIX	BBOT	XNCR	PHAT

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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

NRIX	+ 0.88	IRMD
PHAT	+ 0.74	PCRX
NRIX	+ 0.74	COLL
IRMD	+ 0.72	COLL
PHAT	+ 0.68	RAPP
NRIX	+ 0.64	RAPP

High negative correlations

IRMD	- 0.7	EMBC
NRIX	- 0.69	EMBC
EMBC	- 0.45	COLL
RAPP	- 0.41	EMBC
XNCR	- 0.21	IRMD
AMPH	- 0.2	EMBC

Risk-Adjusted Indicators

There is a big difference between Cronos Stock performing well and Cronos 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 Cronos' 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
PCRX	2.14	(0.07)	0.00	(0.03)	0.00	0.00	4.50	(6.29)	14.20
COLL	1.79	0.44	0.18	1.28	1.76	(1.97)	4.61	(2.77)	20.06
EMBC	1.96	(0.36)	0.00	1.10	0.00	0.00	3.87	(5.47)	16.06
IRMD	1.21	0.36	0.22	12.25	1.12	(1.35)	2.66	(2.24)	12.42
AMPH	1.94	0.16	0.08	0.14	2.07	(2.24)	4.12	(3.98)	15.04
RAPP	2.87	(0.03)	0.00	(0.02)	0.00	0.00	5.76	(6.76)	15.66
NRIX	3.20	0.62	0.17	1.90	3.09	(3.81)	9.23	(5.37)	27.63
BBOT	3.34	0.20	0.04	(3.17)	3.54	(4.14)	8.45	(6.24)	27.79
XNCR	2.77	(0.22)	0.00	0.47	0.00	0.00	6.33	(5.08)	16.84
PHAT	2.74	0.08	0.01	0.54	3.68	(2.83)	5.99	(4.86)	24.16

Cronos Corporate Management

Lloyd Wilson	VP Officer	Profile
Shayne Laidlaw	Director Strategy	Profile
Terry Doucet	General Secretary	Profile
Kevin Gifford	VP Fin	Profile
James Holm	Executive Officer	Profile
Anna Shlimak	Senior Strategy	Profile
Carlos Cortez	Controller VP	Profile

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