Canopy Growth Corp Stock Market Value
Canopy Growth's market value is the price at which a share of Canopy Growth trades on a public exchange. It measures the collective expectations of Canopy Growth Corp investors about its performance. With this module, you can estimate the performance of a buy and hold strategy of Canopy Growth Corp and determine expected loss or profit from investing in Canopy Growth over a given investment horizon. Check out Your Current Watchlist to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.
| Symbol | Canopy |
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Pair Trading with Canopy Growth
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 Canopy Growth 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 Canopy Growth will appreciate offsetting losses from the drop in the long position's value.Moving against Canopy Stock
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The ability to find closely correlated positions to Canopy Growth could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Canopy Growth 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 Canopy Growth - 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 Canopy Growth Corp to buy it.
The correlation of Canopy Growth 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 Canopy Growth moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Canopy Growth Corp 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 Canopy Growth 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 Canopy Growth Correlation, Canopy Growth Volatility and Canopy Growth Alpha and Beta module to complement your research on Canopy Growth. You can also try the Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
Canopy Growth 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.