Codexis Correlations

CDXS Stock

USD 1.67 0.11 6.18%

The current 90-days correlation between Codexis and OmniAb Inc is 0.35 (i.e., Weak 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

Good diversification

The correlation between Codexis and DJI is -0.05 (i.e., Good 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 american community survey.

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

Moving together with Codexis Stock

0.74	PRTC	PureTech Health plc	Pair Corr
0.62	JAKK	JAKKS Pacific	Pair Corr

Moving against Codexis Stock

0.83	FYBR	Frontier Communications	Pair Corr
0.77	WSFS	WSFS Financial	Pair Corr
0.7	BRK-A	Berkshire Hathaway	Pair Corr
0.69	ATI	Allegheny Technologies	Pair Corr
0.66	TMO	Thermo Fisher Scientific	Pair Corr
0.66	NMIH	NMI Holdings	Pair Corr
0.66	SANM	Sanmina Tech Boost	Pair Corr
0.66	BOF	BranchOut Food Common	Pair Corr
0.65	F	Ford Motor	Pair Corr
0.61	ACR-PC	ACRES Commercial Realty	Pair Corr
0.57	ASXSF	Elysee Development Corp	Pair Corr
0.52	ACN	Accenture plc	Pair Corr
0.43	DQ	Daqo New Energy Sell-off Trend	Pair Corr
0.38	RBGPF	Reckitt Benckiser	Pair Corr
0.36	AMKBY	AP Moeller Maersk Downward Rally	Pair Corr

Related Correlations Analysis

	OABI	SGMO	IMDX	CCCC	RANI	ARMP	IPHA	GNFT	TARA	IVVD
OABI		-0.43	-0.22	-0.24	-0.37	0.22	-0.45	0.83	0.19	0.68	OABI
SGMO	-0.43		-0.38	0.17	-0.03	-0.74	0.75	-0.61	-0.35	-0.65	SGMO
IMDX	-0.22	-0.38		-0.1	0.49	0.58	-0.26	0.11	-0.15	0.11	IMDX
CCCC	-0.24	0.17	-0.1		0.36	0.02	0.32	-0.46	0.33	-0.2	CCCC
RANI	-0.37	-0.03	0.49	0.36		0.26	0.05	-0.34	-0.19	-0.21	RANI
ARMP	0.22	-0.74	0.58	0.02	0.26		-0.44	0.37	0.33	0.54	ARMP
IPHA	-0.45	0.75	-0.26	0.32	0.05	-0.44		-0.62	-0.1	-0.55	IPHA
GNFT	0.83	-0.61	0.11	-0.46	-0.34	0.37	-0.62		0.06	0.75	GNFT
TARA	0.19	-0.35	-0.15	0.33	-0.19	0.33	-0.1	0.06		0.42	TARA
IVVD	0.68	-0.65	0.11	-0.2	-0.21	0.54	-0.55	0.75	0.42		IVVD
	OABI	SGMO	IMDX	CCCC	RANI	ARMP	IPHA	GNFT	TARA	IVVD

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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

GNFT	+ 0.83	OABI
IPHA	+ 0.75	SGMO
IVVD	+ 0.75	GNFT
IVVD	+ 0.68	OABI
ARMP	+ 0.58	IMDX
IVVD	+ 0.54	ARMP

High negative correlations

ARMP	- 0.74	SGMO
IVVD	- 0.65	SGMO
GNFT	- 0.62	IPHA
GNFT	- 0.61	SGMO
IVVD	- 0.55	IPHA
GNFT	- 0.46	CCCC

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
OABI	2.72	0.22	0.07	0.39	2.48	(3.76)	7.97	(4.52)	15.52
SGMO	3.57	(0.73)	0.00	(0.34)	0.00	0.00	7.69	(6.82)	22.61
IMDX	4.43	0.93	0.19	1.43	4.05	(4.97)	11.13	(6.19)	23.93
CCCC	3.85	0.15	0.01	1.28	4.25	(4.41)	9.36	(7.32)	24.93
RANI	11.77	3.55	0.55	0.83	5.59	(17.16)	26.67	(12.65)	264.02
ARMP	7.14	1.63	0.21	28.03	6.39	(8.86)	14.73	(10.65)	124.74
IPHA	2.63	(0.17)	0.00	(0.10)	0.00	0.00	4.00	(5.21)	39.49
GNFT	3.17	0.71	0.12	(1.42)	3.74	(3.72)	7.34	(7.71)	25.18
TARA	3.70	(0.05)	(0.01)	0.06	5.12	(4.02)	11.13	(8.67)	39.96
IVVD	5.58	1.06	0.12	(0.53)	5.77	(6.09)	14.95	(10.92)	46.37

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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