Schrodinger Correlations

SDGR Stock

USD 20.46 0.59 2.80%

The current 90-days correlation between Schrodinger and American Well Corp is 0.23 (i.e., Modest diversification). The correlation of Schrodinger 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.

Schrodinger Correlation With Market

Good diversification

The correlation between Schrodinger and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Schrodinger and DJI in the same portfolio, assuming nothing else is changed.

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

To learn how to invest in Schrodinger Stock, please use our How to Invest in Schrodinger guide.

Moving against Schrodinger Stock

0.5	ELAB	Elevai Labs, Common	Pair Corr
0.41	MD	Mednax Inc	Pair Corr
0.37	ESTA	Establishment Labs	Pair Corr
0.35	ENOV	Enovis Corp	Pair Corr
0.31	VREX	Varex Imaging Corp	Pair Corr
0.51	FONR	Fonar	Pair Corr
0.47	AMN	AMN Healthcare Services	Pair Corr
0.38	XAIR	Beyond Air	Pair Corr
0.35	CHE	Chemed Corp	Pair Corr
0.32	BDX	Becton Dickinson Sell-off Trend	Pair Corr
0.31	WORX	Scworx Corp	Pair Corr

Related Correlations Analysis

	VEEV	DOCS	AMWL	GEHC	TDOC	TXG	PGNY	CERT	HQY
VEEV		0.2	-0.24	0.38	-0.15	0.83	-0.35	-0.19	0.84	VEEV
DOCS	0.2		0.38	0.67	0.62	0.48	0.3	-0.11	0.05	DOCS
AMWL	-0.24	0.38		0.46	0.61	0.07	0.13	0.19	-0.21	AMWL
GEHC	0.38	0.67	0.46		0.67	0.62	0.02	-0.41	0.36	GEHC
TDOC	-0.15	0.62	0.61	0.67		0.21	0.2	-0.4	-0.2	TDOC
TXG	0.83	0.48	0.07	0.62	0.21		-0.32	-0.29	0.68	TXG
PGNY	-0.35	0.3	0.13	0.02	0.2	-0.32		0.16	-0.43	PGNY
CERT	-0.19	-0.11	0.19	-0.41	-0.4	-0.29	0.16		-0.24	CERT
HQY	0.84	0.05	-0.21	0.36	-0.2	0.68	-0.43	-0.24		HQY
	VEEV	DOCS	AMWL	GEHC	TDOC	TXG	PGNY	CERT	HQY

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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

HQY	+ 0.84	VEEV
TXG	+ 0.83	VEEV
HQY	+ 0.68	TXG
GEHC	+ 0.67	DOCS
TDOC	+ 0.67	GEHC
TDOC	+ 0.62	DOCS

High negative correlations

HQY	- 0.43	PGNY
CERT	- 0.41	GEHC
CERT	- 0.4	TDOC
PGNY	- 0.35	VEEV
PGNY	- 0.32	TXG
CERT	- 0.29	TXG

Risk-Adjusted Indicators

There is a big difference between Schrodinger Stock performing well and Schrodinger 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 Schrodinger's 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
VEEV	1.66	0.28	0.16	(1.82)	1.36	(2.08)	3.26	(2.49)	21.21
DOCS	2.34	(0.18)	0.00	0.60	0.00	0.00	3.90	(6.12)	19.72
AMWL	3.12	(0.19)	0.00	5.51	0.00	0.00	5.41	(6.18)	30.64
GEHC	2.11	(0.17)	0.00	(1.21)	0.00	0.00	4.23	(3.78)	16.88
TDOC	2.24	(0.35)	0.00	1.38	0.00	0.00	3.96	(5.04)	18.18
TXG	3.64	0.18	0.03	(0.32)	4.62	(3.76)	5.66	(6.48)	32.62
PGNY	1.65	(0.06)	0.00	(0.84)	0.00	0.00	3.21	(3.30)	14.21
CERT	2.77	0.05	0.01	0.55	3.14	(3.69)	7.51	(4.40)	33.87
HQY	2.27	0.08	0.01	(0.24)	3.73	(2.43)	6.41	(5.03)	18.01

Schrodinger Corporate Management

Yvonne Esq	Chief Secretary	Profile
Jenny Herman	Senior Controller	Profile
Matt Repasky	Senior Products	Profile
Shane Brauner	Executive Officer	Profile

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