Codexis Correlations

CDXS Stock

USD 1.68 0.05 3.07%

The current 90-days correlation between Codexis and OmniAb Inc is 0.39 (i.e., Weak diversification). The correlation of Codexis 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.

Codexis Correlation With Market

Weak diversification

The correlation between Codexis and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Codexis and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Codexis Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Codexis. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

For more information on how to buy Codexis Stock please use our How to Invest in Codexis guide.

Moving together with Codexis Stock

0.86	OSL	Oncosil Medical	Pair Corr
0.72	FNMFO	Federal National Mortgage	Pair Corr
0.65	LTNC	Labor Smart	Pair Corr

Moving against Codexis Stock

0.86	QUILF	Quilter plc	Pair Corr
0.85	INCY	Incyte	Pair Corr
0.84	BCH	Banco De Chile	Pair Corr
0.84	EXPE	Expedia Group	Pair Corr
0.79	NHIC	NewHold Investment Corp	Pair Corr
0.77	GKOS	Glaukos Corp	Pair Corr
0.75	SHG	Shinhan Financial	Pair Corr
0.73	OBIO	Orchestra BioMed Holdings	Pair Corr
0.71	KB	KB Financial Group	Pair Corr
0.67	AVAL	Grupo Aval	Pair Corr
0.63	DNUT	Krispy Kreme	Pair Corr
0.62	TMO	Thermo Fisher Scientific	Pair Corr
0.51	A	Agilent Technologies	Pair Corr
0.5	MRVI	Maravai Lifesciences	Pair Corr
0.5	SFRX	Seafarer Exploration	Pair Corr
0.39	OP	Oceanpal Symbol Change	Pair Corr
0.94	KSANF	Kansai Paint	Pair Corr
0.9	MTC	MMTEC Inc Tech Boost	Pair Corr
0.89	DRXGF	Drax Group plc	Pair Corr
0.87	LFST	Lifestance Health	Pair Corr
0.86	PACH	Pioneer Acquisition	Pair Corr
0.83	CSCO	Cisco Systems	Pair Corr
0.78	COPL	Copley Acquisition Corp	Pair Corr
0.73	AAPL	Apple Inc	Pair Corr
0.66	KODK	Eastman Kodak	Pair Corr
0.63	JBHT	JB Hunt Transport	Pair Corr
0.59	ORRF	Orrstown Financial	Pair Corr
0.55	THH	TryHard Holdings	Pair Corr

Related Correlations Analysis

	OABI	SGMO	IMDX	CCCC	RANI	ARMP	IPHA	GNFT	TARA	IVVD
OABI		-0.25	-0.24	0.3	-0.1	0.06	-0.12	0.71	0.3	0.35	OABI
SGMO	-0.25		-0.47	-0.4	-0.45	-0.69	0.53	-0.54	-0.45	-0.54	SGMO
IMDX	-0.24	-0.47		0.07	0.85	0.83	0.12	0.2	0.46	0.62	IMDX
CCCC	0.3	-0.4	0.07		0.13	0.14	0.04	0.31	-0.1	0.11	CCCC
RANI	-0.1	-0.45	0.85	0.13		0.69	0.04	0.21	0.31	0.5	RANI
ARMP	0.06	-0.69	0.83	0.14	0.69		-0.13	0.48	0.65	0.78	ARMP
IPHA	-0.12	0.53	0.12	0.04	0.04	-0.13		-0.18	-0.08	-0.04	IPHA
GNFT	0.71	-0.54	0.2	0.31	0.21	0.48	-0.18		0.46	0.68	GNFT
TARA	0.3	-0.45	0.46	-0.1	0.31	0.65	-0.08	0.46		0.81	TARA
IVVD	0.35	-0.54	0.62	0.11	0.5	0.78	-0.04	0.68	0.81		IVVD
	OABI	SGMO	IMDX	CCCC	RANI	ARMP	IPHA	GNFT	TARA	IVVD

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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

RANI	+ 0.85	IMDX
ARMP	+ 0.83	IMDX
IVVD	+ 0.81	TARA
IVVD	+ 0.78	ARMP
GNFT	+ 0.71	OABI
ARMP	+ 0.69	RANI

High negative correlations

ARMP	- 0.69	SGMO
IVVD	- 0.54	SGMO
GNFT	- 0.54	SGMO
IMDX	- 0.47	SGMO
TARA	- 0.45	SGMO
RANI	- 0.45	SGMO

Risk-Adjusted Indicators

There is a big difference between Codexis Stock performing well and Codexis 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 Codexis' 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
OABI	3.16	0.24	0.10	0.17	3.14	(4.27)	7.97	(5.16)	17.05
SGMO	3.81	(0.23)	0.00	(0.03)	0.00	0.00	8.51	(7.14)	28.86
IMDX	4.24	0.70	0.17	0.36	3.90	(4.67)	12.20	(6.19)	23.93
CCCC	3.99	(0.55)	0.00	(0.18)	0.00	0.00	8.16	(7.83)	23.47
RANI	12.20	3.69	0.55	0.57	5.73	(17.85)	26.67	(12.65)	264.02
ARMP	5.80	1.94	0.26	(0.90)	5.29	(6.85)	12.81	(9.16)	124.74
IPHA	2.78	(0.09)	0.00	(0.04)	0.00	0.00	4.78	(5.37)	39.49
GNFT	3.15	0.62	0.11	(0.76)	3.82	(3.61)	7.34	(7.71)	20.95
TARA	4.67	1.04	0.21	0.71	4.41	(5.97)	15.05	(7.72)	39.96
IVVD	6.25	0.99	0.13	5.42	6.07	(7.85)	15.24	(10.92)	46.37

Codexis Corporate Management

Sriram MBA	Chief Officer	Profile
Georgia Erbez	Chief Officer	Profile
MBA Taylor	VP CFO	Profile
Asli Aras	VP Devel	Profile
Britton Jiminez	Senior Marketing	Profile
Britton Jimenez	Senior Marketing	Profile
Margaret JD	General Officer	Profile

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