Scworx Corp Correlations

WORX Stock

USD 0.46 0.00 0.000002%

The current 90-days correlation between Scworx Corp and Modern Mobility Aids is 0.07 (i.e., Significant diversification). The correlation of Scworx Corp 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.

Scworx Corp Correlation With Market

Weak diversification

The correlation between Scworx Corp and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Scworx Corp and DJI in the same portfolio, assuming nothing else is changed.

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Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Scworx Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

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

Moving together with Scworx Stock

0.73	ELAB	Elevai Labs, Common	Pair Corr
0.71	ELMD	Electromed	Pair Corr
0.62	EMBC	Embecta Corp	Pair Corr
0.65	FEMY	Femasys	Pair Corr
0.75	AGL	agilon health	Pair Corr
0.63	AMS	American Shared Hospital	Pair Corr
0.76	XAIR	Beyond Air	Pair Corr

Moving against Scworx Stock

0.79	EW	Edwards Lifesciences Corp	Pair Corr
0.75	OM	Outset Medical	Pair Corr
0.72	DXCM	DexCom Inc	Pair Corr
0.68	ENSG	Ensign Group	Pair Corr
0.61	DH	Definitive Healthcare	Pair Corr
0.57	LH	Laboratory	Pair Corr
0.53	VEEV	Veeva Systems Class	Pair Corr
0.53	EHAB	Enhabit	Pair Corr
0.5	DRIO	DarioHealth Corp	Pair Corr
0.81	CAH	Cardinal Health	Pair Corr
0.78	FLGT	Fulgent Genetics	Pair Corr
0.75	CCM	Concord Medical Services	Pair Corr
0.74	ABT	Abbott Laboratories	Pair Corr
0.74	BKD	Brookdale Senior Living	Pair Corr
0.7	COR	Cencora	Pair Corr
0.66	AHG	Akso Health Group	Pair Corr
0.55	BSX	Boston Scientific Corp	Pair Corr
0.47	CON	Concentra Group Holdings	Pair Corr
0.33	FIGS	Figs Inc	Pair Corr

Related Correlations Analysis

	MDRM	VNTH	NRC	EUDA	NOUV	MITI	MDNWF	EVAHF	FOXO
MDRM		0.12	-0.08	-0.03	-0.03	-0.08	0.0	0.35	-0.05	MDRM
VNTH	0.12		-0.05	-0.03	0.05	0.16	0.0	-0.08	0.15	VNTH
NRC	-0.08	-0.05		-0.27	-0.14	0.13	0.0	-0.59	-0.16	NRC
EUDA	-0.03	-0.03	-0.27		-0.1	0.44	0.0	0.28	0.47	EUDA
NOUV	-0.03	0.05	-0.14	-0.1		0.3	0.0	0.18	0.21	NOUV
MITI	-0.08	0.16	0.13	0.44	0.3		0.0	0.03	0.83	MITI
MDNWF	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	MDNWF
EVAHF	0.35	-0.08	-0.59	0.28	0.18	0.03	0.0		0.24	EVAHF
FOXO	-0.05	0.15	-0.16	0.47	0.21	0.83	0.0	0.24		FOXO
	MDRM	VNTH	NRC	EUDA	NOUV	MITI	MDNWF	EVAHF	FOXO

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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

FOXO	+ 0.83	MITI
FOXO	+ 0.47	EUDA
MITI	+ 0.44	EUDA
EVAHF	+ 0.35	MDRM
MITI	+ 0.3	NOUV
EVAHF	+ 0.28	EUDA

High negative correlations

EVAHF	- 0.59	NRC
EUDA	- 0.27	NRC
FOXO	- 0.16	NRC
NOUV	- 0.14	NRC
NOUV	- 0.1	EUDA
EVAHF	- 0.08	VNTH

Risk-Adjusted Indicators

There is a big difference between Scworx Stock performing well and Scworx Corp 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 Scworx Corp'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
MDRM	14.97	3.86	0.08	(8.52)	14.50	(65.62)	66.67	(40.00)	180.56
VNTH	5.97	1.51	0.00	(15.22)	0.00	0.00	0.00	0.00	150.00
NRC	2.69	0.16	0.04	0.22	3.42	(2.65)	5.53	(5.53)	15.47
EUDA	3.00	0.10	0.02	(0.43)	3.59	(3.20)	6.23	(6.19)	16.76
NOUV	5.97	1.61	0.00	(0.51)	0.00	0.00	0.00	0.00	150.00
MITI	8.68	0.36	0.03	0.43	9.19	(24.28)	40.63	(20.00)	95.36
MDNWF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EVAHF	7.89	1.24	0.00	4.67	0.00	0.00	0.00	(36.84)	211.11
FOXO	7.90	(1.45)	0.00	1.86	0.00	0.00	6.67	(15.17)	204.36

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