Chromadex Corp Correlations

CDXC Stock

USD 5.88 0.25 4.44%

The current 90-days correlation between Chromadex Corp and ELYM Old is 0.11 (i.e., Average diversification). The correlation of Chromadex 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.

Chromadex Corp Correlation With Market

Average diversification

The correlation between Chromadex Corp and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Chromadex Corp and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Chromadex 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 interest.

For information on how to trade Chromadex Stock refer to our How to Trade Chromadex Stock guide.

Moving together with Chromadex Stock

0.69

VTRS

Viatris

Pair Corr

Moving against Chromadex Stock

0.69	VIRX	Viracta Therapeutics	Pair Corr
0.54	VALN	Valneva SE ADR Upward Rally	Pair Corr
0.53	EQ	Equillium	Pair Corr
0.46	DRMA	Dermata Therapeutics	Pair Corr
0.43	ME	23Andme Holding	Pair Corr
0.36	DRRX	Durect	Pair Corr
0.63	VXRT	Vaxart Inc	Pair Corr
0.45	ENVB	Enveric Biosciences	Pair Corr
0.43	VTGN	VistaGen Therapeutics	Pair Corr
0.41	VRAX	Virax Biolabs Group	Pair Corr
0.41	ENTO	Entero Therapeutics, Symbol Change	Pair Corr
0.4	ENTX	Entera Bio	Pair Corr
0.32	EDSA	Edesa Biotech Earnings Call This Week	Pair Corr

Related Correlations Analysis

	IKNA	ELYM	HCWB	XCUR	IPSC	KZR	MLYS	NKTX	NGM
IKNA		0.8	0.32	-0.1	0.84	0.82	0.8	0.61	0.59	IKNA
ELYM	0.8		0.09	-0.46	0.69	0.81	0.75	0.84	0.85	ELYM
HCWB	0.32	0.09		-0.08	0.26	0.41	0.2	0.02	0.15	HCWB
XCUR	-0.1	-0.46	-0.08		0.18	-0.28	-0.03	-0.43	-0.4	XCUR
IPSC	0.84	0.69	0.26	0.18		0.75	0.76	0.63	0.53	IPSC
KZR	0.82	0.81	0.41	-0.28	0.75		0.73	0.74	0.64	KZR
MLYS	0.8	0.75	0.2	-0.03	0.76	0.73		0.69	0.65	MLYS
NKTX	0.61	0.84	0.02	-0.43	0.63	0.74	0.69		0.72	NKTX
NGM	0.59	0.85	0.15	-0.4	0.53	0.64	0.65	0.72		NGM
	IKNA	ELYM	HCWB	XCUR	IPSC	KZR	MLYS	NKTX	NGM

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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

NGM	+ 0.85	ELYM
IPSC	+ 0.84	IKNA
NKTX	+ 0.84	ELYM
KZR	+ 0.82	IKNA
KZR	+ 0.81	ELYM
ELYM	+ 0.8	IKNA

High negative correlations

XCUR	- 0.46	ELYM
NKTX	- 0.43	XCUR
NGM	- 0.4	XCUR
KZR	- 0.28	XCUR
XCUR	- 0.1	IKNA
XCUR	- 0.08	HCWB

Risk-Adjusted Indicators

There is a big difference between Chromadex Stock performing well and Chromadex 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 Chromadex 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
IKNA	1.62	(0.18)	0.00	1.72	0.00	0.00	3.87	(3.29)	16.13
ELYM	3.62	(1.11)	0.00	(3.84)	0.00	0.00	6.00	(9.35)	22.16
HCWB	11.57	2.50	0.24	(0.88)	7.34	(31.70)	8.51	(13.64)	352.85
XCUR	14.13	4.10	0.29	1.97	12.17	(17.00)	47.72	(24.38)	129.49
IPSC	3.78	(0.75)	0.00	(0.66)	0.00	0.00	6.73	(7.48)	31.00
KZR	1.83	(0.28)	0.00	(1.24)	0.00	0.00	3.66	(3.53)	18.24
MLYS	3.51	(0.36)	0.00	(0.53)	0.00	0.00	7.79	(6.95)	26.52
NKTX	3.36	(0.47)	0.00	(1.05)	0.00	0.00	7.33	(7.51)	25.45
NGM	3.76	(0.65)	0.00	(1.07)	0.00	0.00	6.16	(8.80)	24.21

Chromadex Corp Corporate Management

Kendall Knysch	Head Partnerships	Profile
Heather Blarcom	Senior Secretary	Profile
Andrew Shao	Senior Affairs	Profile
Chu Yan	Managing Pacific	Profile

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