Marijuana Correlations

The correlation of Marijuana 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.

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

Moving together with Marijuana Pink Sheet

0.65	GLUC	Glucose Health	Pair Corr
0.65	AA	Alcoa Corp	Pair Corr
0.8	JNJ	Johnson Johnson	Pair Corr
0.85	INTC	Intel	Pair Corr
0.72	DD	Dupont De Nemours Earnings Call This Week	Pair Corr

Moving against Marijuana Pink Sheet

0.83	WMT	Walmart Aggressive Push	Pair Corr
0.66	CSCO	Cisco Systems	Pair Corr
0.62	V	Visa Class A	Pair Corr
0.53	DIS	Walt Disney Earnings Call This Week	Pair Corr
0.45	CHKP	Check Point Software Earnings Call This Week	Pair Corr
0.45	JPM	JPMorgan Chase	Pair Corr
0.4	MMM	3M Company	Pair Corr
0.36	SIGL	Signal Advance	Pair Corr
0.33	BAC	Bank of America	Pair Corr

Related Correlations Analysis

	PJET	CBDL	HEMP	EMGE	UNRV	ERBB	CVSI	GSAC	RMRK	GXXY
PJET		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	PJET
CBDL	0.0		0.0	0.52	-0.15	-0.28	0.32	0.29	-0.02	0.36	CBDL
HEMP	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	HEMP
EMGE	0.0	0.52	0.0		0.1	-0.24	0.52	0.27	0.08	0.69	EMGE
UNRV	0.0	-0.15	0.0	0.1		-0.12	0.17	-0.06	-0.15	0.22	UNRV
ERBB	0.0	-0.28	0.0	-0.24	-0.12		-0.4	0.01	0.12	-0.43	ERBB
CVSI	0.0	0.32	0.0	0.52	0.17	-0.4		0.39	-0.17	0.78	CVSI
GSAC	0.0	0.29	0.0	0.27	-0.06	0.01	0.39		-0.22	0.38	GSAC
RMRK	0.0	-0.02	0.0	0.08	-0.15	0.12	-0.17	-0.22		-0.1	RMRK
GXXY	0.0	0.36	0.0	0.69	0.22	-0.43	0.78	0.38	-0.1		GXXY
	PJET	CBDL	HEMP	EMGE	UNRV	ERBB	CVSI	GSAC	RMRK	GXXY

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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

GXXY	+ 0.78	CVSI
GXXY	+ 0.69	EMGE
EMGE	+ 0.52	CBDL
CVSI	+ 0.52	EMGE
GSAC	+ 0.39	CVSI
GXXY	+ 0.38	GSAC

High negative correlations

GXXY	- 0.43	ERBB
CVSI	- 0.4	ERBB
ERBB	- 0.28	CBDL
ERBB	- 0.24	EMGE
RMRK	- 0.22	GSAC
RMRK	- 0.17	CVSI

Risk-Adjusted Indicators

There is a big difference between Marijuana Pink Sheet performing well and Marijuana 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 Marijuana'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
PJET	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CBDL	13.84	1.21	0.06	0.44	12.95	(34.15)	25.00	(25.00)	170.83
HEMP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EMGE	7.47	(0.02)	0.00	0.08	8.80	(15.58)	20.00	(20.00)	57.50
UNRV	1.51	0.30	0.00	(0.38)	0.00	0.00	0.00	0.00	83.33
ERBB	11.67	1.84	0.09	9.10	10.80	(25.94)	25.00	(20.00)	78.57
CVSI	6.76	0.31	0.02	0.25	8.86	(25.29)	33.33	(25.00)	58.33
GSAC	3.98	0.31	0.00	0.24	0.00	0.00	33.33	(25.00)	58.33
RMRK	6.88	1.15	0.03	(0.29)	8.63	(33.33)	33.33	(25.00)	58.33
GXXY	11.39	1.39	0.08	0.45	10.14	(64.39)	29.79	(29.20)	252.69

Be your own money manager

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