Tilray Inc Stock Market Value
| TLRY Stock | CAD 1.88 0.04 2.17% |
| Symbol | Tilray |
Tilray Inc Price To Book Ratio
Tilray 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Tilray's stock what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Tilray.
| 12/05/2022 |
| 11/24/2024 |
If you would invest 0.00 in Tilray on December 5, 2022 and sell it all today you would earn a total of 0.00 from holding Tilray Inc or generate 0.0% return on investment in Tilray over 720 days. Tilray is related to or competes with OrganiGram Holdings, and Cronos. Tilray Brands, Inc. engages in the research, cultivation, production, marketing, and distribution of medical cannabis pr... More
Tilray Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Tilray's stock current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Tilray Inc upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.19) | |||
| Maximum Drawdown | 19.52 | |||
| Value At Risk | (4.53) | |||
| Potential Upside | 4.78 |
Tilray Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Tilray's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Tilray's standard deviation. In reality, there are many statistical measures that can use Tilray historical prices to predict the future Tilray's volatility.| Risk Adjusted Performance | (0.10) | |||
| Jensen Alpha | (0.29) | |||
| Total Risk Alpha | (0.91) | |||
| Treynor Ratio | 0.3605 |
Tilray Inc Backtested Returns
Tilray Inc owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.14, which indicates the firm had a -0.14% return per unit of risk over the last 3 months. Tilray Inc exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Tilray's Coefficient Of Variation of (695.30), variance of 8.86, and Risk Adjusted Performance of (0.10) to confirm the risk estimate we provide. The entity has a beta of -1.22, which indicates a somewhat significant risk relative to the market. As returns on the market increase, returns on owning Tilray are expected to decrease by larger amounts. On the other hand, during market turmoil, Tilray is expected to outperform it. At this point, Tilray Inc has a negative expected return of -0.41%. Please make sure to validate Tilray's maximum drawdown, kurtosis, day median price, as well as the relationship between the potential upside and daily balance of power , to decide if Tilray Inc performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.36 |
Below average predictability
Tilray Inc has below average predictability. Overlapping area represents the amount of predictability between Tilray time series from 5th of December 2022 to 30th of November 2023 and 30th of November 2023 to 24th of November 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Tilray Inc price movement. The serial correlation of 0.36 indicates that just about 36.0% of current Tilray price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.36 | |
| Spearman Rank Test | 0.33 | |
| Residual Average | 0.0 | |
| Price Variance | 0.09 |
Tilray Inc lagged returns against current returns
Autocorrelation, which is Tilray stock's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Tilray's stock expected returns. We can calculate the autocorrelation of Tilray returns to help us make a trade decision. For example, suppose you find that Tilray has exhibited high autocorrelation historically, and you observe that the stock is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Tilray regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Tilray stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Tilray stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Tilray stock over time.
Current vs Lagged Prices |
| Timeline |
Tilray Lagged Returns
When evaluating Tilray's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Tilray stock have on its future price. Tilray autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Tilray autocorrelation shows the relationship between Tilray stock current value and its past values and can show if there is a momentum factor associated with investing in Tilray Inc.
Regressed Prices |
| Timeline |
Pair Trading with Tilray
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 Tilray 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 Tilray will appreciate offsetting losses from the drop in the long position's value.Moving against Tilray Stock
| 0.76 | BNS | Bank of Nova Scotia | PairCorr |
| 0.64 | TD-PFI | Toronto Dominion Bank | PairCorr |
| 0.63 | AMZN | Amazon CDR | PairCorr |
| 0.62 | RY | Royal Bank | PairCorr |
| 0.59 | BMO | Bank of Montreal | PairCorr |
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.
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 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. 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 Tilray 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 Tilray Correlation, Tilray Volatility and Tilray Alpha and Beta module to complement your research on Tilray. You can also try the Bonds Directory module to find actively traded corporate debentures issued by US companies.
Tilray technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.