Codexis Correlations

CDXS Stock

USD 2.57 0.06 2.39%

The current 90-days correlation between Codexis and Lyell Immunopharma is 0.21 (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

Weak diversification

The correlation between Codexis and DJI is 0.34 (i.e., Weak 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.

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 interest.

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

Moving together with Codexis Stock

0.83	A	Agilent Technologies	Pair Corr
0.88	ME	23Andme Holding	Pair Corr
0.88	VANI	Vivani Medical	Pair Corr
0.9	DNLI	Denali Therapeutics	Pair Corr
0.89	VCEL	Vericel Corp Ord	Pair Corr
0.9	VCYT	Veracyte	Pair Corr
0.8	VERA	Vera Therapeutics	Pair Corr
0.74	DRTS	Alpha Tau Medical	Pair Corr
0.84	CDIOW	Cardio Diagnostics	Pair Corr
0.65	SABSW	SAB Biotherapeutics	Pair Corr
0.75	VINC	Vincerx Pharma	Pair Corr
0.78	VKTX	Viking Therapeutics	Pair Corr
0.7	DYAI	Dyadic International	Pair Corr
0.83	VRAX	Virax Biolabs Group	Pair Corr
0.68	VRCA	Verrica Pharmaceuticals	Pair Corr
0.83	VRDN	Viridian Therapeutics	Pair Corr
0.87	VRPX	Virpax Pharmaceuticals	Pair Corr
0.62	VTGN	VistaGen Therapeutics	Pair Corr
0.93	VTRS	Viatris	Pair Corr
0.9	VTYX	Ventyx Biosciences	Pair Corr

Moving against Codexis Stock

0.8	DVAX	Dynavax Technologies	Pair Corr
0.69	VALN	Valneva SE ADR	Pair Corr
0.86	VRTX	Vertex Pharmaceuticals Sell-off Trend	Pair Corr
0.8	VRNA	Verona Pharma PLC	Pair Corr
0.66	EDSA	Edesa Biotech	Pair Corr
0.58	VSTM	Verastem	Pair Corr
0.51	VNDA	Vanda Pharmaceuticals	Pair Corr
0.42	CDTTW	Conduit Pharmaceuticals	Pair Corr
0.39	VTVT	vTv Therapeutics Downward Rally	Pair Corr

Related Correlations Analysis

	NUVB	LYEL	IPSC	GBIO	STTK	FHTX	GLUE	KYMR	NRIX	KZR
NUVB		0.1	0.94	0.92	-0.03	0.19	0.41	0.87	0.84	0.81	NUVB
LYEL	0.1		0.22	0.11	0.51	0.29	0.19	0.05	0.11	0.27	LYEL
IPSC	0.94	0.22		0.97	0.04	0.23	0.41	0.86	0.89	0.87	IPSC
GBIO	0.92	0.11	0.97		-0.05	0.12	0.41	0.89	0.89	0.84	GBIO
STTK	-0.03	0.51	0.04	-0.05		0.42	0.2	0.06	0.12	0.23	STTK
FHTX	0.19	0.29	0.23	0.12	0.42		0.49	0.19	0.26	0.23	FHTX
GLUE	0.41	0.19	0.41	0.41	0.2	0.49		0.42	0.39	0.54	GLUE
KYMR	0.87	0.05	0.86	0.89	0.06	0.19	0.42		0.93	0.81	KYMR
NRIX	0.84	0.11	0.89	0.89	0.12	0.26	0.39	0.93		0.84	NRIX
KZR	0.81	0.27	0.87	0.84	0.23	0.23	0.54	0.81	0.84		KZR
	NUVB	LYEL	IPSC	GBIO	STTK	FHTX	GLUE	KYMR	NRIX	KZR

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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

GBIO	+ 0.97	IPSC
IPSC	+ 0.94	NUVB
NRIX	+ 0.93	KYMR
GBIO	+ 0.92	NUVB
NRIX	+ 0.89	IPSC
KYMR	+ 0.89	GBIO

High negative correlations

STTK	- 0.05	GBIO
STTK	- 0.03	NUVB

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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
NUVB	3.08	(0.56)	(0.59)	6.88	(7.38)	28.03
LYEL	4.28	(0.15)	(0.17)	7.41	(8.62)	29.45
IPSC	2.93	(1.06)	(0.57)	5.88	(7.27)	17.02
GBIO	3.58	(1.43)	(1.19)	6.74	(8.77)	17.22
STTK	5.21	(0.08)	(0.12)	11.21	(10.38)	50.15
FHTX	3.82	(0.34)	(0.18)	9.05	(7.58)	26.22
GLUE	3.53	(0.53)	(0.46)	7.34	(7.69)	30.08
KYMR	3.04	(0.58)	(0.44)	5.50	(7.51)	23.03
NRIX	2.81	(0.78)	(0.47)	3.71	(8.16)	20.41
KZR	2.23	(0.38)	(11.92)	4.41	(5.47)	15.22

Codexis Corporate Management

Sriram MBA	Chief Officer	Profile
Georgia Erbez	Chief Officer	Profile
MBA Taylor	VP CFO	Profile
Asli Aras	VP Devel	Profile
Margaret JD	General Officer	Profile
John Schiffhauer	Senior Property	Profile

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