Tilray Correlations

TLRY Stock

USD 7.87 0.12 1.50%

The current 90-days correlation between Tilray Inc and Evotec SE ADR is 0.04 (i.e., Significant diversification). The correlation of Tilray 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Tilray Correlation With Market

Very good diversification

The correlation between Tilray Inc and DJI is -0.3 (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.

Build AI portfolio with Tilray Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Tilray Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in real.

Moving together with Tilray Stock

0.71	21P	Aurora Cannabis	Pair Corr
0.88	WEED	Canopy Growth Corp	Pair Corr
0.62	VM	Voyageur Pharmaceuticals	Pair Corr
0.64	R9U2	Green Thumb Industries	Pair Corr
0.69	TSND	TerrAscend Corp	Pair Corr

Moving against Tilray Stock

0.61	AMG	Amgen Inc	Pair Corr
0.57	761	PHARMANUTRA SPA	Pair Corr
0.56	PFE	Pfizer Inc CDR	Pair Corr
0.55	H6D	Haleon PLC	Pair Corr
0.54	PFE	Pfizer Inc	Pair Corr
0.47	DYF1	Dynavax Technologies	Pair Corr
0.47	VTYX	Ventyx Biosciences	Pair Corr
0.46	SFZN	Siegfried Holding	Pair Corr
0.45	RHO6	Roche Holding	Pair Corr
0.45	CVG	CSPC Pharmaceutical	Pair Corr
0.44	RO	Roche Holding AG	Pair Corr
0.43	VTRS	Viatris Earnings Call Tomorrow	Pair Corr
0.43	ELAN	Elanco Animal Health	Pair Corr
0.37	KG	Kestrel Group Symbol Change	Pair Corr
0.36	HCM	HUTCHMED China	Pair Corr
0.36	LDZU	ASPEN PHARUNADR 1 Earnings Call Tomorrow	Pair Corr
0.33	BRM	Bristol Myers Squibb	Pair Corr
0.59	ELVN	Enliven Therapeutics	Pair Corr
0.52	2DT	Amneal Pharmaceuticals	Pair Corr
0.49	EVTA	EVOTEC SE ADR	Pair Corr
0.48	JNJ	Johnson Johnson	Pair Corr
0.46	6CW	CIG WIRELESS	Pair Corr
0.43	VP4	VISTIN PHARMA ASA	Pair Corr
0.38	YPHA	ASTELLAS PHARMA UNSPADR	Pair Corr
0.37	LDZA	Aspen Pharmacare Holdings Earnings Call This Week	Pair Corr

Related Correlations Analysis

	EVO	ALVO	HROW	PAHC	NEOG	DVAX	AMPH	IMNM	MAZE	NTLA
EVO		-0.22	0.05	0.29	0.75	0.68	0.38	0.57	0.54	0.75	EVO
ALVO	-0.22		-0.5	-0.59	-0.45	-0.27	-0.13	0.09	-0.27	-0.26	ALVO
HROW	0.05	-0.5		0.3	0.34	0.13	0.01	0.05	0.3	0.19	HROW
PAHC	0.29	-0.59	0.3		0.66	0.62	0.26	0.18	0.58	0.44	PAHC
NEOG	0.75	-0.45	0.34	0.66		0.89	0.25	0.7	0.82	0.88	NEOG
DVAX	0.68	-0.27	0.13	0.62	0.89		0.14	0.76	0.83	0.89	DVAX
AMPH	0.38	-0.13	0.01	0.26	0.25	0.14		0.1	0.23	0.04	AMPH
IMNM	0.57	0.09	0.05	0.18	0.7	0.76	0.1		0.79	0.77	IMNM
MAZE	0.54	-0.27	0.3	0.58	0.82	0.83	0.23	0.79		0.79	MAZE
NTLA	0.75	-0.26	0.19	0.44	0.88	0.89	0.04	0.77	0.79		NTLA
	EVO	ALVO	HROW	PAHC	NEOG	DVAX	AMPH	IMNM	MAZE	NTLA

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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

DVAX	+ 0.89	NEOG
NTLA	+ 0.89	DVAX
NTLA	+ 0.88	NEOG
MAZE	+ 0.83	DVAX
MAZE	+ 0.82	NEOG
MAZE	+ 0.79	IMNM

High negative correlations

PAHC	- 0.59	ALVO
HROW	- 0.5	ALVO
NEOG	- 0.45	ALVO
MAZE	- 0.27	ALVO
DVAX	- 0.27	ALVO
NTLA	- 0.26	ALVO

Risk-Adjusted Indicators

There is a big difference between Tilray Stock performing well and Tilray 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 Tilray'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
EVO	2.36	0.14	0.06	0.19	2.78	(2.62)	5.02	(4.53)	16.20
ALVO	2.68	(0.38)	0.00	(0.57)	0.00	0.00	6.42	(5.82)	16.71
HROW	2.56	0.40	0.15	0.29	2.64	(2.79)	6.42	(4.67)	19.18
PAHC	2.15	0.42	0.15	0.79	2.24	(2.59)	4.15	(3.95)	24.38
NEOG	2.08	0.99	0.61	0.83	0.63	(2.45)	5.56	(2.35)	34.17
DVAX	1.69	0.74	0.47	6.46	0.44	(2.32)	2.76	(1.46)	39.08
AMPH	2.13	(0.47)	0.00	(0.16)	0.00	0.00	3.67	(3.98)	12.32
IMNM	3.25	0.27	0.06	0.34	4.07	(3.50)	7.47	(6.10)	31.45
MAZE	2.73	0.39	0.11	3.46	2.76	(3.20)	5.95	(4.37)	20.03
NTLA	3.65	0.71	0.19	0.41	3.76	(4.23)	10.12	(6.34)	23.60

Tilray Corporate Executives

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.

Bryan Nolt

Founder Distillery

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