Tilray Correlations
| TLRY Stock | USD 1.72 0.01 0.58% |
The current 90-days correlation between Tilray Inc and SNDL Inc is 0.73 (i.e., Poor 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
Significant diversification
The correlation between Tilray Inc and DJI is 0.07 (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.
Moving together with Tilray Stock
| 0.87 | JNJ | Johnson Johnson Earnings Call This Week | PairCorr |
| 0.69 | RVPHW | Reviva Pharmaceuticals | PairCorr |
| 0.7 | PCRX | Pacira BioSciences, | PairCorr |
| 0.73 | AXSM | Axsome Therapeutics | PairCorr |
| 0.88 | SUPN | Supernus Pharmaceuticals | PairCorr |
| 0.63 | COLL | Collegium Pharmaceutical | PairCorr |
| 0.86 | NIO | Nio Class A | PairCorr |
| 0.8 | F | Ford Motor | PairCorr |
| 0.75 | MPW | Medical Properties Trust | PairCorr |
| 0.79 | BMEZ | BlackRock Health Sciences | PairCorr |
| 0.72 | HD | Home Depot | PairCorr |
| 0.76 | FNMFO | Federal National Mortgage | PairCorr |
| 0.8 | TR | Tootsie Roll Industries | PairCorr |
| 0.77 | RR | Richtech Robotics Class Trending | PairCorr |
| 0.85 | KTOS | Kratos Defense Security | PairCorr |
| 0.8 | 94986RYP0 | US94986RYP09 | PairCorr |
| 0.64 | NTIP | Network 1 Technologies | PairCorr |
| 0.87 | DSVSF | Discovery Metals Corp | PairCorr |
| 0.85 | ACSAY | ACS Actividades De | PairCorr |
| 0.77 | UI | Ubiquiti Networks | PairCorr |
Moving against Tilray Stock
Related Correlations Analysis
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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| CGC | 5.35 | 0.50 | 0.08 | 0.67 | 5.81 | 17.16 | 43.62 | |||
| ACB | 3.28 | 0.56 | 0.16 | 0.67 | 3.04 | 6.41 | 32.52 | |||
| SNDL | 3.67 | 1.31 | 0.37 | (3.34) | 2.47 | 13.67 | 27.48 | |||
| CRON | 2.51 | 0.43 | 0.15 | 26.92 | 2.24 | 6.75 | 22.48 | |||
| NIO | 3.83 | 1.28 | 0.28 | 2.95 | 3.72 | 9.27 | 23.36 |
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 | Profile |