Cronos Correlations
| CRON Stock | USD 2.50 0.02 0.79% |
The correlation of Cronos 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 Cronos moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Cronos Group 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.
Significant diversification
The correlation between Cronos Group and NYA is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cronos Group and NYA in the same portfolio, assuming nothing else is changed.
Cronos |
The ability to find closely correlated positions to Cronos could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Cronos 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 Cronos - 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 Cronos Group to buy it.
Moving together with Cronos Stock
Moving against Cronos Stock
| 0.77 | DRUG | Bright Minds Biosciences | PairCorr |
| 0.72 | VERV | Verve Therapeutics | PairCorr |
| 0.62 | EQ | Equillium | PairCorr |
| 0.61 | VCNX | Vaccinex Trending | PairCorr |
| 0.6 | KA | Kineta Inc | PairCorr |
| 0.59 | CDIOW | Cardio Diagnostics | PairCorr |
| 0.44 | VERA | Vera Therapeutics | PairCorr |
| 0.44 | DRTS | Alpha Tau Medical | PairCorr |
| 0.43 | DMTK | DermTech | PairCorr |
| 0.43 | VANI | Vivani Medical | PairCorr |
| 0.42 | DRMA | Dermata Therapeutics | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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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Risk-Adjusted Indicators
There is a big difference between Cronos Stock performing well and Cronos 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 Cronos' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| SXTC | 4.79 | (0.63) | 0.00 | (0.27) | 0.00 | 10.48 | 65.62 | |||
| PTPI | 4.30 | (1.63) | 0.00 | (0.98) | 0.00 | 7.27 | 33.72 | |||
| GSAC | 7.37 | 0.97 | 0.04 | 1.80 | 8.58 | 33.33 | 86.67 | |||
| DBCCF | 3.64 | (0.59) | 0.00 | 26.46 | 0.00 | 9.38 | 27.58 | |||
| CXXIF | 5.31 | (0.11) | 0.00 | (0.05) | 0.00 | 11.43 | 37.88 | |||
| CLSH | 4.08 | 0.20 | 0.02 | (0.13) | 4.77 | 10.00 | 40.62 | |||
| GRUSF | 3.99 | 0.75 | 0.13 | (0.46) | 4.40 | 9.23 | 34.46 | |||
| SLGWF | 7.17 | 0.61 | 0.05 | (0.19) | 8.96 | 15.77 | 64.61 | |||
| LSDI | 9.10 | 0.77 | 0.08 | (0.18) | 8.56 | 8.14 | 235.45 |
Cronos Corporate Management
| James III | Controller VP | Profile | |
| Arye Weigensberg | Senior Development | Profile | |
| Shayne Laidlaw | Director Strategy | Profile | |
| Terry Doucet | General Secretary | Profile | |
| Kevin Gifford | VP Fin | Profile | |
| James Holm | Chief Officer | Profile | |
| Anna Shlimak | Senior Strategy | Profile |
Additional Information and Resources on Investing in Cronos Stock
When determining whether Cronos Group offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Cronos' financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Cronos Group Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Cronos Group Stock:Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Cronos Group. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in persons. You can also try the Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
Is Pharmaceuticals space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Cronos. If investors know Cronos will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Cronos listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth 0.144 | Earnings Share (0.14) | Revenue Per Share 0.244 | Quarterly Revenue Growth 0.297 | Return On Assets (0.04) |
The market value of Cronos Group is measured differently than its book value, which is the value of Cronos that is recorded on the company's balance sheet. Investors also form their own opinion of Cronos' value that differs from its market value or its book value, called intrinsic value, which is Cronos' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Cronos' market value can be influenced by many factors that don't directly affect Cronos' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Cronos' value and its price as these two are different measures arrived at by different means. Investors typically determine if Cronos is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Cronos' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.