Canopy Enterprise Value Multiple from 2010 to 2024
| WEED Stock | CAD 4.63 0.32 6.46% |
Enterprise Value Multiple | First Reported 2010-12-31 | Previous Quarter (4.03) | Current Value (88.07) | Quarterly Volatility 4.9 K |
Check Canopy Growth financial statements over time to gain insight into future company performance. You can evaluate financial statements to find patterns among Canopy Growth's main balance sheet or income statement drivers, such as Interest Expense of 0.0, Selling General Administrative of 5.8 M or Total Revenue of 1.1 M, as well as many indicators such as Price To Sales Ratio of 538, Dividend Yield of 0.0 or PTB Ratio of 28.47. Canopy financial statements analysis is a perfect complement when working with Canopy Growth Valuation or Volatility modules.
Canopy | Enterprise Value Multiple |
Pair Trading with Canopy Growth
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Canopy Growth position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Canopy Growth will appreciate offsetting losses from the drop in the long position's value.Moving against Canopy Stock
The ability to find closely correlated positions to Canopy Growth could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Canopy Growth 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 Canopy Growth - 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 Canopy Growth Corp to buy it.
The correlation of Canopy Growth 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Canopy Growth moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Canopy Growth Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Canopy Growth can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out the analysis of Canopy Growth Correlation against competitors. You can also try the Volatility Analysis module to get historical volatility and risk analysis based on latest market data.