Tilray Correlations
| TLRY Stock | CAD 1.92 0.01 0.52% |
The current 90-days correlation between Tilray Inc and Cronos Group is 0.69 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Tilray moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Tilray Inc moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Tilray Correlation With Market
Very good diversification
The correlation between Tilray Inc and DJI is -0.31 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tilray Inc and DJI in the same portfolio, assuming nothing else is changed.
Tilray |
The ability to find closely correlated positions to Tilray could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Tilray 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 Tilray - 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 Tilray Inc to buy it.
Moving against Tilray Stock
| 0.75 | JPM | JPMorgan Chase | PairCorr |
| 0.69 | BOFA | Bank of America | PairCorr |
| 0.56 | TD-PFI | Toronto Dominion Bank Earnings Call This Week | PairCorr |
| 0.52 | RY-PS | Royal Bank Earnings Call This Week | PairCorr |
| 0.47 | RY-PJ | Royal Bank Earnings Call This Week | PairCorr |
| 0.45 | RY-PM | Royal Bank Earnings Call This Week | PairCorr |
| 0.35 | RY-PN | Royal Bank Earnings Call This Week | PairCorr |
| 0.34 | CHE-UN | Chemtrade Logistics | PairCorr |
Related Correlations Analysis
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Be your own money manager
Our tools can tell you how much better you can do entering a position in Tilray 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.Did you try this?
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Theme RatingsDetermine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance |
| All Next | Launch Module |
Tilray Corporate Management
Elected by the shareholders, the Tilray's board of directors comprises two types of representatives: Tilray inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Tilray. The board's role is to monitor Tilray's management team and ensure that shareholders' interests are well served. Tilray's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Tilray's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Lloyd Brathwaite | Chief Officer | Profile | |
| Randy Daigneau | Senior Chain | Profile | |
| Mitchell Gendel | Global Secretary | Profile | |
| John Sadler | Vice Relations | Profile |