Tilray Correlations

TLRY Stock

CAD 2.39 0.55 18.71%

The current 90-days correlation between Tilray Inc and Tilray Inc is 0.85 (i.e., Very 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

Significant diversification

The correlation between Tilray Inc and DJI is 0.08 (i.e., Significant 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.

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 together with Tilray Stock

0.76	GOOG	Alphabet CDR	Pair Corr
0.61	NVDA	NVIDIA CDR	Pair Corr
0.78	TSLA	Tesla Inc CDR	Pair Corr
0.82	INTC	INTEL CDR	Pair Corr
0.78	MU	Micron Technology,	Pair Corr
0.61	QCOM	QUALCOMM Incorporated	Pair Corr
0.86	IAG	iA Financial	Pair Corr
0.63	GLXY	Galaxy Digital Holdings	Pair Corr
0.67	DV	Dolly Varden Silver	Pair Corr
0.87	PAAS	Pan American Silver	Pair Corr
0.64	ALA-PB	Altagas Pref	Pair Corr
0.74	SUP	Northern Superior	Pair Corr
0.72	GCG	Guardian Capital	Pair Corr
0.76	BAU	Blue Star Gold Earnings Call Tomorrow	Pair Corr
0.79	SAG	Sterling Metals Corp	Pair Corr
0.74	KUAI-P	Kua Investments	Pair Corr
0.69	FISH	Sailfish Royalty Corp	Pair Corr
0.74	PGDC	Patagonia Gold Corp	Pair Corr
0.65	CCO	Cameco Corp	Pair Corr
0.7	PEAK	Sun Peak Metals	Pair Corr
0.77	BYN	Banyan Gold Corp	Pair Corr
0.87	MSA	Mineros SA	Pair Corr
0.77	TBL	Taiga Building Products	Pair Corr
0.81	AG	First Majestic Silver	Pair Corr
0.88	CYBE	CyberCatch Holdings Earnings Call Tomorrow	Pair Corr
0.71	WELL	WELL Health Technologies	Pair Corr
0.88	LUN	Lundin Mining	Pair Corr
0.75	OBE	Obsidian Energy	Pair Corr
0.75	NVA	NuVista Energy	Pair Corr

Moving against Tilray Stock

0.44	BA	BOEING CDR	Pair Corr
0.39	NKE	NIKE Inc CDR	Pair Corr

Related Correlations Analysis

	WEED	ACB	TLRY	OGI	CRON
WEED		0.78	0.79	0.71	0.83	WEED
ACB	0.78		0.92	0.88	0.77	ACB
TLRY	0.79	0.92		0.93	0.88	TLRY
OGI	0.71	0.88	0.93		0.84	OGI
CRON	0.83	0.77	0.88	0.84		CRON
	WEED	ACB	TLRY	OGI	CRON

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
WEED	5.57	0.42	0.06	0.28	6.65	(6.03)	17.02	(9.25)	44.15
ACB	3.39	0.36	0.09	0.24	3.96	(4.13)	6.75	(6.93)	31.96
TLRY	7.71	2.08	0.29	0.85	6.11	(9.66)	22.09	(10.61)	67.36
OGI	2.59	0.50	0.16	1.33	2.49	(3.10)	5.84	(5.06)	21.78
CRON	2.61	0.37	0.13	1.11	2.48	(3.25)	6.69	(4.14)	21.56

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.

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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.

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