Cronos Correlations

CRON Stock

USD 2.74 0.01 0.36%

The current 90-days correlation between Cronos Group and Pacira BioSciences, is 0.28 (i.e., Modest diversification). 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.

Cronos Correlation With Market

Average diversification

The correlation between Cronos Group and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cronos Group and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Cronos 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 closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Cronos Stock

0.77	WEED	Canopy Growth Corp	Pair Corr
0.7	VM	Voyageur Pharmaceuticals	Pair Corr
0.74	TLRY	Tilray Inc Split	Pair Corr

Moving against Cronos Stock

0.52	300110	Huaren Pharmaceutical	Pair Corr
0.46	HCM	HUTCHMED China	Pair Corr
0.41	300573	Shenyang Xingqi Phar	Pair Corr
0.4	603139	Shaanxi Kanghui Pharm	Pair Corr
0.35	603676	Tibet Weixinkang Medicine	Pair Corr
0.71	ELVN	Enliven Therapeutics	Pair Corr
0.43	600129	Chongqing Taiji Industry	Pair Corr
0.54	BGM	Qilian International	Pair Corr
0.51	688247	Sinotherapeutics A	Pair Corr
0.48	300601	Shenzhen Kangtai Bio	Pair Corr
0.46	600422	KPC Pharmaceuticals	Pair Corr

Related Correlations Analysis

	PCRX	COLL	EMBC	IRMD	AMPH	RAPP	NRIX	BBOT	XNCR	PHAT
PCRX		0.43	-0.35	0.28	0.62	0.49	0.31	0.23	0.02	0.19	PCRX
COLL	0.43		-0.63	0.93	0.49	0.46	0.89	0.49	0.79	0.83	COLL
EMBC	-0.35	-0.63		-0.75	-0.15	-0.65	-0.81	-0.15	-0.67	-0.55	EMBC
IRMD	0.28	0.93	-0.75		0.31	0.54	0.96	0.41	0.87	0.85	IRMD
AMPH	0.62	0.49	-0.15	0.31		0.4	0.3	0.34	0.09	0.21	AMPH
RAPP	0.49	0.46	-0.65	0.54	0.4		0.66	0.14	0.43	0.46	RAPP
NRIX	0.31	0.89	-0.81	0.96	0.3	0.66		0.38	0.88	0.82	NRIX
BBOT	0.23	0.49	-0.15	0.41	0.34	0.14	0.38		0.34	0.26	BBOT
XNCR	0.02	0.79	-0.67	0.87	0.09	0.43	0.88	0.34		0.79	XNCR
PHAT	0.19	0.83	-0.55	0.85	0.21	0.46	0.82	0.26	0.79		PHAT
	PCRX	COLL	EMBC	IRMD	AMPH	RAPP	NRIX	BBOT	XNCR	PHAT

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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

NRIX	+ 0.96	IRMD
IRMD	+ 0.93	COLL
NRIX	+ 0.89	COLL
XNCR	+ 0.88	NRIX
XNCR	+ 0.87	IRMD
PHAT	+ 0.85	IRMD

High negative correlations

NRIX	- 0.81	EMBC
IRMD	- 0.75	EMBC
XNCR	- 0.67	EMBC
RAPP	- 0.65	EMBC
EMBC	- 0.63	COLL
PHAT	- 0.55	EMBC

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
PCRX	1.70	(0.08)	0.00	(0.03)	0.00	0.00	3.79	(3.43)	10.91
COLL	1.47	0.45	0.28	0.70	1.05	(1.73)	3.89	(2.08)	15.47
EMBC	1.88	(0.33)	0.00	(0.23)	0.00	0.00	3.96	(5.47)	13.58
IRMD	1.42	0.47	0.23	1.00	1.49	(1.59)	3.36	(2.42)	11.95
AMPH	1.86	(0.17)	0.00	(0.03)	0.00	0.00	3.67	(3.89)	13.94
RAPP	3.12	0.22	0.06	0.21	3.68	(3.25)	6.19	(6.76)	16.24
NRIX	3.81	1.31	0.37	1.22	2.94	(4.95)	9.33	(5.37)	27.63
BBOT	2.98	0.00	0.00	0.06	3.15	(3.57)	5.51	(4.69)	23.32
XNCR	3.51	0.60	0.17	0.43	3.46	(4.42)	8.22	(5.23)	22.96
PHAT	2.50	0.55	0.21	0.50	2.43	(2.97)	6.01	(4.35)	12.73

Cronos Corporate Management

Lloyd Wilson	VP Officer	Profile
Shayne Laidlaw	Director Strategy	Profile
Terry Doucet	General Secretary	Profile
Kevin Gifford	VP Fin	Profile
James Holm	Executive Officer	Profile
Anna Shlimak	Senior Strategy	Profile
Carlos Cortez	Controller VP	Profile

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