Cambria Cannabis Correlations
| TOKE Etf | USD 4.88 0.08 1.61% |
The current 90-days correlation between Cambria Cannabis ETF and Amplify Seymour Cannabis is 0.36 (i.e., Weak diversification). The correlation of Cambria Cannabis 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.
Cambria Cannabis Correlation With Market
Weak diversification
The correlation between Cambria Cannabis ETF and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cambria Cannabis ETF and DJI in the same portfolio, assuming nothing else is changed.
Cambria |
Moving together with Cambria Etf
| 0.83 | ICLN | iShares Global Clean | PairCorr |
| 0.64 | TAN | Invesco Solar ETF | PairCorr |
| 0.89 | MSOS | AdvisorShares Pure | PairCorr |
| 0.9 | MJ | Amplify ETF Trust | PairCorr |
| 0.66 | URNM | Sprott Uranium Miners | PairCorr |
| 0.72 | DIS | Walt Disney | PairCorr |
| 0.69 | TRV | The Travelers Companies | PairCorr |
| 0.79 | AA | Alcoa Corp | PairCorr |
| 0.7 | HPQ | HP Inc | PairCorr |
Moving against Cambria Etf
| 0.65 | KSA | iShares MSCI Saudi | PairCorr |
| 0.57 | FNGO | MicroSectors FANG Index | PairCorr |
| 0.54 | FNGS | MicroSectors FANG ETN | PairCorr |
| 0.5 | RXI | iShares Global Consumer | PairCorr |
| 0.44 | FNGU | MicroSectors FANG Index | PairCorr |
| 0.66 | BA | Boeing | PairCorr |
| 0.55 | MMM | 3M Company | PairCorr |
| 0.48 | DBEF | Xtrackers MSCI EAFE | PairCorr |
| 0.41 | CSCO | Cisco Systems | PairCorr |
| 0.32 | GE | GE Aerospace | PairCorr |
| 0.31 | WMT | Walmart Aggressive Push | PairCorr |
Related Correlations Analysis
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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
| High negative correlations
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Cambria Cannabis Constituents Risk-Adjusted Indicators
There is a big difference between Cambria Etf performing well and Cambria Cannabis ETF 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 Cambria Cannabis' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| CNBS | 2.41 | (0.84) | 0.00 | (0.79) | 0.00 | 4.32 | 34.54 | |||
| THCX | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| POTX | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| YOLO | 1.62 | (0.31) | 0.00 | (2.41) | 0.00 | 2.71 | 8.26 | |||
| MSOS | 2.72 | (0.55) | 0.00 | 1.14 | 0.00 | 5.59 | 14.26 |