Codexis Correlations

CDXS Stock

USD 2.72 0.09 3.42%

The current 90-days correlation between Codexis and Equillium is -0.04 (i.e., Good 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

Significant diversification

The correlation between Codexis and DJI is 0.06 (i.e., Significant 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 national income and product accounts.

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

Moving together with Codexis Stock

0.69	VANI	Vivani Medical	Pair Corr
0.68	DNTH	Dianthus Therapeutics	Pair Corr
0.77	DVAX	Dynavax Technologies	Pair Corr
0.64	VIVS	VivoSim Labs, Symbol Change	Pair Corr
0.61	VKTX	Viking Therapeutics	Pair Corr
0.76	VRDN	Viridian Therapeutics	Pair Corr
0.76	VRNA	Verona Pharma PLC	Pair Corr
0.63	VTGN	VistaGen Therapeutics	Pair Corr
0.71	VTYX	Ventyx Biosciences	Pair Corr
0.8	EDIT	Editas Medicine	Pair Corr
0.77	EDSA	Edesa Biotech	Pair Corr

Moving against Codexis Stock

0.63	VCEL	Vericel Corp Ord	Pair Corr
0.31	CDIOW	Cardio Diagnostics	Pair Corr
0.52	SRZNW	Surrozen Warrant	Pair Corr
0.43	KTTAW	Pasithea Therapeutics	Pair Corr
0.6	ERNA	Eterna Therapeutics	Pair Corr
0.55	ESLA	Estrella Immunopharma	Pair Corr

Related Correlations Analysis

	A	EQ	KG	DMAC	VALN	VANI	DNLI	DNTH	VCEL	VCYT
A		0.19	0.28	0.17	0.16	0.09	0.58	0.37	0.09	0.3	A
EQ	0.19		0.44	0.86	0.86	-0.18	0.51	0.74	-0.61	0.59	EQ
KG	0.28	0.44		0.45	0.49	-0.12	0.24	0.26	-0.3	0.4	KG
DMAC	0.17	0.86	0.45		0.93	0.03	0.34	0.77	-0.61	0.46	DMAC
VALN	0.16	0.86	0.49	0.93		-0.06	0.32	0.71	-0.69	0.54	VALN
VANI	0.09	-0.18	-0.12	0.03	-0.06		-0.16	0.34	-0.37	-0.65	VANI
DNLI	0.58	0.51	0.24	0.34	0.32	-0.16		0.46	-0.09	0.46	DNLI
DNTH	0.37	0.74	0.26	0.77	0.71	0.34	0.46		-0.63	0.12	DNTH
VCEL	0.09	-0.61	-0.3	-0.61	-0.69	-0.37	-0.09	-0.63		-0.02	VCEL
VCYT	0.3	0.59	0.4	0.46	0.54	-0.65	0.46	0.12	-0.02		VCYT
	A	EQ	KG	DMAC	VALN	VANI	DNLI	DNTH	VCEL	VCYT

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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

VALN	+ 0.93	DMAC
DMAC	+ 0.86	EQ
VALN	+ 0.86	EQ
DNTH	+ 0.77	DMAC
DNTH	+ 0.74	EQ
DNTH	+ 0.71	VALN

High negative correlations

VCEL	- 0.69	VALN
VCYT	- 0.65	VANI
VCEL	- 0.63	DNTH
VCEL	- 0.61	DMAC
VCEL	- 0.61	EQ
VCEL	- 0.37	VANI

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
A	1.37	(0.07)	0.01	0.09	1.63	(1.44)	2.82	(2.46)	9.19
EQ	9.40	3.77	0.39	(1.11)	6.12	(13.91)	24.14	(11.11)	103.18
KG	4.45	0.80	0.10	(1.51)	4.82	(4.82)	15.00	(8.20)	63.96
DMAC	3.62	0.75	0.13	(3.12)	3.62	(3.78)	10.47	(6.41)	21.25
VALN	3.26	0.80	0.11	(0.55)	3.96	(3.58)	10.42	(5.60)	37.71
VANI	2.38	0.07	0.01	0.22	3.22	(2.63)	6.58	(6.29)	18.93
DNLI	2.31	0.07	0.06	0.17	2.23	(2.91)	5.73	(4.17)	14.39
DNTH	2.89	0.18	0.11	0.21	2.79	(3.37)	6.46	(4.94)	21.64
VCEL	2.32	(0.44)	0.00	(0.07)	0.00	0.00	4.49	(5.58)	21.17
VCYT	2.17	(0.10)	(0.01)	0.07	2.41	(2.36)	5.33	(4.44)	20.16

Codexis Corporate Management

Sriram MBA	Chief Officer	Profile
Georgia Erbez	Chief Officer	Profile
MBA Taylor	VP CFO	Profile
Asli Aras	VP Devel	Profile
Margaret JD	General Officer	Profile
John Schiffhauer	Senior Property	Profile

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