Codexis Correlations

CDXS Stock

USD 1.08 0.10 10.20%

The current 90-days correlation between Codexis and 908 Devices is 0.26 (i.e., Modest 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

Excellent diversification

The correlation between Codexis and DJI is -0.51 (i.e., Excellent 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 small area income & poverty estimates.

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

Moving together with Codexis Stock

0.89	A	Agilent Technologies	Pair Corr
0.92	GSS	Genetic Signatures	Pair Corr
0.83	BIO	Bio Rad Laboratories	Pair Corr
0.9	CDT	Conduit Pharmaceuticals	Pair Corr
0.69	FTRE	Fortrea Holdings	Pair Corr
0.84	IQV	IQVIA Holdings	Pair Corr
0.8	LAB	Standard Biotools	Pair Corr
0.69	MTD	Mettler Toledo Inter	Pair Corr
0.86	TEM	Tempus AI Class	Pair Corr
0.76	TMO	Thermo Fisher Scientific	Pair Corr
0.89	WAT	Waters	Pair Corr
0.65	HBIO	Harvard Bioscience Earnings Call Today	Pair Corr
0.83	ICLR	ICON PLC	Pair Corr
0.85	OSL	Oncosil Medical	Pair Corr
0.79	MEDP	Medpace Holdings	Pair Corr
0.92	NAGE	Niagen Bioscience Earnings Call This Week	Pair Corr
0.86	IXI	IXICO PLC	Pair Corr
0.87	NOTV	Inotiv Inc	Pair Corr
0.67	PACB	Pacific Biosciences	Pair Corr
0.79	ADO	Anteotech	Pair Corr
0.7	PAIYY	Aesthetic Medical	Pair Corr

Moving against Codexis Stock

0.74	MLAB	Mesa Laboratories	Pair Corr
0.69	CTE	Cryosite	Pair Corr
0.44	OBD	Oxford Biodynamics PLC	Pair Corr
0.35	TXG	10X Genomics	Pair Corr
0.91	GNFT	Genfit SA	Pair Corr
0.63	ATLN	Atlantic International	Pair Corr
0.49	MEM	Memphasys	Pair Corr
0.44	QGEN	Qiagen NV	Pair Corr

Related Correlations Analysis

	SNWV	MASS	SGHT	OM	NNOX	SENS	CVRX	VMD	INGN	IMRX
SNWV		-0.5	0.93	0.11	0.84	-0.76	0.65	-0.87	0.84	0.7	SNWV
MASS	-0.5		-0.58	0.06	-0.16	0.66	-0.08	0.45	-0.54	-0.31	MASS
SGHT	0.93	-0.58		-0.04	0.72	-0.81	0.61	-0.82	0.85	0.72	SGHT
OM	0.11	0.06	-0.04		0.29	0.1	-0.09	-0.34	-0.09	-0.25	OM
NNOX	0.84	-0.16	0.72	0.29		-0.56	0.69	-0.83	0.71	0.64	NNOX
SENS	-0.76	0.66	-0.81	0.1	-0.56		-0.46	0.66	-0.67	-0.65	SENS
CVRX	0.65	-0.08	0.61	-0.09	0.69	-0.46		-0.44	0.7	0.68	CVRX
VMD	-0.87	0.45	-0.82	-0.34	-0.83	0.66	-0.44		-0.7	-0.6	VMD
INGN	0.84	-0.54	0.85	-0.09	0.71	-0.67	0.7	-0.7		0.76	INGN
IMRX	0.7	-0.31	0.72	-0.25	0.64	-0.65	0.68	-0.6	0.76		IMRX
	SNWV	MASS	SGHT	OM	NNOX	SENS	CVRX	VMD	INGN	IMRX

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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

SGHT	+ 0.93	SNWV
INGN	+ 0.85	SGHT
NNOX	+ 0.84	SNWV
INGN	+ 0.84	SNWV
IMRX	+ 0.76	INGN
NNOX	+ 0.72	SGHT

High negative correlations

VMD	- 0.87	SNWV
VMD	- 0.83	NNOX
VMD	- 0.82	SGHT
SENS	- 0.81	SGHT
SENS	- 0.76	SNWV
INGN	- 0.7	VMD

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
SNWV	1.78	(0.58)	0.00	(7.79)	0.00	0.00	3.79	(3.90)	12.41
MASS	2.93	0.13	0.04	0.34	2.96	(3.61)	6.91	(4.39)	23.77
SGHT	2.65	(0.66)	0.00	(0.45)	0.00	0.00	3.99	(6.41)	15.32
OM	4.42	(0.25)	0.00	(0.07)	0.00	0.00	9.51	(10.41)	38.45
NNOX	3.02	(0.80)	0.00	(0.53)	0.00	0.00	6.31	(6.25)	15.50
SENS	3.12	0.21	0.05	0.12	4.69	(3.00)	7.53	(7.21)	27.60
CVRX	4.09	(0.10)	0.00	(0.12)	0.00	0.00	8.87	(9.59)	24.44
VMD	1.39	0.41	0.24	1.16	1.19	(1.61)	3.57	(2.79)	9.36
INGN	1.98	(0.18)	0.00	(0.19)	0.00	0.00	4.50	(3.89)	19.47
IMRX	3.81	(0.32)	0.00	(1.96)	0.00	0.00	8.12	(5.64)	67.18

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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