Scisparc Correlations

SPRC Stock

USD 1.46 0.05 3.31%

The current 90-days correlation between Scisparc and Indaptus Therapeutics is 0.36 (i.e., Weak diversification). The correlation of Scisparc 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.

Scisparc Correlation With Market

Average diversification

The correlation between Scisparc 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 Scisparc and DJI in the same portfolio, assuming nothing else is changed.

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

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

Moving together with Scisparc Stock

0.92	LIPO	Lipella Pharmaceuticals	Pair Corr
0.81	HPQ	HP Inc	Pair Corr
0.81	HD	Home Depot	Pair Corr

Moving against Scisparc Stock

0.92	DD	Dupont De Nemours	Pair Corr
0.89	ATI	Allegheny Technologies	Pair Corr
0.84	WSFS	WSFS Financial	Pair Corr
0.84	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.84	JNJ	Johnson Johnson	Pair Corr
0.83	ACR-PC	ACRES Commercial Realty	Pair Corr
0.81	BAC	Bank of America Earnings Call This Week	Pair Corr
0.8	AMGN	Amgen Inc	Pair Corr
0.8	TRV	The Travelers Companies	Pair Corr
0.8	XOM	Exxon Mobil Corp	Pair Corr
0.78	BOF	BranchOut Food Common	Pair Corr
0.78	AXP	American Express	Pair Corr
0.77	F	Ford Motor Aggressive Push	Pair Corr
0.75	ACN	Accenture plc	Pair Corr
0.69	JPM	JPMorgan Chase Earnings Call This Week	Pair Corr
0.6	ASXSF	Elysee Development Corp	Pair Corr
0.6	PFE	Pfizer Inc	Pair Corr
0.56	IBM	International Business	Pair Corr
0.55	GILD	Gilead Sciences	Pair Corr
0.54	KO	Coca Cola	Pair Corr
0.4	MMM	3M Company	Pair Corr

Related Correlations Analysis

	INDP	SLRX	SLXN	LIPO	JSPR	ONCO	AZTR	SCNI	PTIX	ARTL
INDP		0.84	0.75	0.68	0.85	0.73	0.86	0.76	0.71	0.85	INDP
SLRX	0.84		0.84	0.81	0.85	0.87	0.92	0.86	0.86	0.89	SLRX
SLXN	0.75	0.84		0.84	0.79	0.93	0.92	0.93	0.88	0.91	SLXN
LIPO	0.68	0.81	0.84		0.7	0.86	0.85	0.83	0.91	0.83	LIPO
JSPR	0.85	0.85	0.79	0.7		0.77	0.89	0.77	0.79	0.92	JSPR
ONCO	0.73	0.87	0.93	0.86	0.77		0.88	0.94	0.9	0.87	ONCO
AZTR	0.86	0.92	0.92	0.85	0.89	0.88		0.87	0.89	0.96	AZTR
SCNI	0.76	0.86	0.93	0.83	0.77	0.94	0.87		0.85	0.87	SCNI
PTIX	0.71	0.86	0.88	0.91	0.79	0.9	0.89	0.85		0.89	PTIX
ARTL	0.85	0.89	0.91	0.83	0.92	0.87	0.96	0.87	0.89		ARTL
	INDP	SLRX	SLXN	LIPO	JSPR	ONCO	AZTR	SCNI	PTIX	ARTL

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Risk-Adjusted Indicators

There is a big difference between Scisparc Stock performing well and Scisparc 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 Scisparc'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
INDP	6.23	0.21	0.02	0.56	6.68	(7.59)	16.82	(11.60)	43.93
SLRX	6.74	(1.90)	0.00	(0.58)	0.00	0.00	16.00	(16.92)	66.01
SLXN	3.83	(0.96)	0.00	(0.31)	0.00	0.00	10.98	(8.19)	37.24
LIPO	6.66	(1.78)	0.00	(0.48)	0.00	0.00	17.07	(15.15)	42.20
JSPR	4.20	(0.66)	0.00	(0.59)	0.00	0.00	7.73	(9.04)	31.75
ONCO	4.94	(0.92)	0.00	(0.54)	0.00	0.00	9.52	(12.46)	36.81
AZTR	4.61	(1.40)	0.00	(0.73)	0.00	0.00	7.14	(11.86)	32.63
SCNI	4.90	(0.58)	0.00	(2.76)	0.00	0.00	10.77	(9.29)	38.82
PTIX	5.38	(1.99)	0.00	2.08	0.00	0.00	9.66	(9.87)	58.73
ARTL	5.51	(1.32)	0.00	12.71	0.00	0.00	6.88	(11.25)	44.88

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