Akanda Corp. Common Shares (AKAN) — Stock Correlations & Overview
Over the past year, AKAN has moved most closely with MCRI, TORO, CGC. Explore the stocks most correlated and inversely correlated with AKAN below, along with its price, financials, and company profile.
Stocks correlated with AKAN
Correlation of daily returns. Higher positive values move with AKAN; negative values move opposite it. Informational only, not investment advice.
Most correlated with AKAN
| Symbol | Company | Correlation |
|---|---|---|
| MCRI | Monarch Casino & Resort IncHOTELS & MOTELS | 0.31 |
| TORO | Toro Corp. Common Stock | 0.31 |
| CGC | Canopy Growth Corporation Common SharesMEDICINAL CHEMICALS & BOTANICAL PRODUCTS | 0.30 |
| YOLO | AdvisorShares Pure Cannabis ETF | 0.30 |
| MJ | Amplify Alternative Harvest ETF | 0.30 |
Most inversely correlated with AKAN
| Symbol | Company | Correlation |
|---|---|---|
| OPCH | Option Care Health, Inc. Common StockSERVICES-HOME HEALTH CARE SERVICES | -0.27 |
| USOI | UBS AG ETRACS Crude Oil Shares Covered Call ETNs due April 24, 2037 | -0.27 |
| RGTZ | Defiance Daily Target 2x Short RGTI ETF | -0.24 |
| SON | Sonoco Products CompanyPAPERBOARD CONTAINERS & BOXES | -0.24 |
| QBTZ | Defiance Daily Target 2x Short QBTS ETF | -0.23 |
Frequently asked questions about AKAN correlations
- Which stocks are most correlated with AKAN?
- Based on one year of daily returns, the stocks most correlated with Akanda Corp. Common Shares (AKAN) are MCRI (0.31), TORO (0.31) and CGC (0.30). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with AKAN?
- Over the past year, the stocks most inversely correlated with Akanda Corp. Common Shares (AKAN) are OPCH (-0.27), USOI (-0.27) and RGTZ (-0.24). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these AKAN correlations calculated?
- We compute the correlation of daily returns between AKAN and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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