Scilex Holding Correlations

SCLX Stock

0.64 0.04 6.67%

The current 90-days correlation between Scilex Holding and AstraZeneca PLC ADR is 0.03 (i.e., Significant diversification). The correlation of Scilex Holding 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.

Scilex Holding Correlation With Market

Modest diversification

The correlation between Scilex Holding and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Scilex Holding and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Scilex Holding. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

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

Moving together with Scilex Stock

0.62	ME	23Andme Holding	Pair Corr
0.87	VALN	Valneva SE ADR	Pair Corr
0.74	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.68	LLY	Eli Lilly Buyout Trend	Pair Corr
0.67	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.65	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.82	GMAB	Genmab AS	Pair Corr
0.76	INZY	Inozyme Pharma	Pair Corr
0.66	IPSC	Century Therapeutics Buyout Trend	Pair Corr
0.74	LEGN	Legend Biotech Corp	Pair Corr
0.81	LYRA	Lyra Therapeutics	Pair Corr
0.77	NKTX	Nkarta Inc	Pair Corr
0.74	PHAT	Phathom Pharmaceuticals	Pair Corr
0.73	ABBV	AbbVie Inc	Pair Corr

Moving against Scilex Stock

0.75	BMY	Bristol Myers Squibb Sell-off Trend	Pair Corr
0.58	GILD	Gilead Sciences	Pair Corr
0.56	EWTX	Edgewise Therapeutics	Pair Corr
0.47	KZR	Kezar Life Sciences	Pair Corr
0.36	VRDN	Viridian Therapeutics Buyout Trend	Pair Corr
0.62	RVMD	Revolution Medicines	Pair Corr
0.58	MNPR	Monopar Therapeutics	Pair Corr
0.52	AMLX	Amylyx Pharmaceuticals	Pair Corr
0.48	RNXT	RenovoRx	Pair Corr
0.43	AKRO	Akero Therapeutics	Pair Corr
0.34	MDGL	Madrigal Pharmaceuticals	Pair Corr

Related Correlations Analysis

	AZN	HZNP	GILD	BMY	AMGN	LLY	ABBV	MRK	BIIB	SNY
AZN		0.45	-0.89	-0.88	0.73	0.92	0.55	0.9	0.94	0.86	AZN
HZNP	0.45		-0.58	-0.54	0.33	0.3	0.14	0.45	0.49	0.36	HZNP
GILD	-0.89	-0.58		0.84	-0.5	-0.71	-0.35	-0.83	-0.81	-0.75	GILD
BMY	-0.88	-0.54	0.84		-0.78	-0.84	-0.6	-0.91	-0.93	-0.91	BMY
AMGN	0.73	0.33	-0.5	-0.78		0.83	0.8	0.82	0.87	0.86	AMGN
LLY	0.92	0.3	-0.71	-0.84	0.83		0.57	0.86	0.93	0.87	LLY
ABBV	0.55	0.14	-0.35	-0.6	0.8	0.57		0.56	0.64	0.69	ABBV
MRK	0.9	0.45	-0.83	-0.91	0.82	0.86	0.56		0.95	0.94	MRK
BIIB	0.94	0.49	-0.81	-0.93	0.87	0.93	0.64	0.95		0.94	BIIB
SNY	0.86	0.36	-0.75	-0.91	0.86	0.87	0.69	0.94	0.94		SNY
	AZN	HZNP	GILD	BMY	AMGN	LLY	ABBV	MRK	BIIB	SNY

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

BIIB	+ 0.95	MRK
BIIB	+ 0.94	AZN
SNY	+ 0.94	MRK
SNY	+ 0.94	BIIB
BIIB	+ 0.93	LLY
LLY	+ 0.92	AZN

High negative correlations

BIIB	- 0.93	BMY
SNY	- 0.91	BMY
MRK	- 0.91	BMY
GILD	- 0.89	AZN
BMY	- 0.88	AZN
LLY	- 0.84	BMY

Risk-Adjusted Indicators

There is a big difference between Scilex Stock performing well and Scilex Holding 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 Scilex Holding'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
AZN	1.05	(0.40)	0.00	31.87	0.00	0.00	1.28	(3.18)	8.50
HZNP	0.71	(0.14)	0.00	1.57	0.00	0.00	1.13	(0.87)	16.07
GILD	0.90	0.21	0.10	0.57	1.02	(0.93)	2.17	(1.82)	10.80
BMY	1.30	0.32	0.14	3.98	1.18	(1.48)	2.23	(2.07)	14.39
AMGN	1.02	(0.27)	0.00	(0.16)	0.00	0.00	1.67	(1.90)	9.43
LLY	1.28	(0.39)	0.00	(0.88)	0.00	0.00	2.35	(3.55)	9.21
ABBV	1.01	(0.16)	0.00	(0.82)	0.00	0.00	1.56	(2.11)	18.93
MRK	0.88	(0.24)	0.00	(0.81)	0.00	0.00	2.00	(2.13)	4.89
BIIB	0.99	(0.47)	0.00	(0.58)	0.00	0.00	1.95	(2.60)	6.36
SNY	0.87	(0.24)	0.00	(4.93)	0.00	0.00	1.37	(1.85)	7.81

Scilex Holding Corporate Management

Steven JD	Interim Officer	Profile
Gigi DeGuzman	Executive Resources	Profile
Dmitri MD	Senior Officer	Profile
Sumant Rajendran	Executive Marketing	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC