Codexis Correlations

CDXS Stock

USD 2.99 0.12 3.86%

The current 90-days correlation between Codexis and C4 Therapeutics is 0.37 (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

Poor diversification

The correlation between Codexis and DJI is 0.6 (i.e., Poor 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 interest.

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

Moving together with Codexis Stock

0.62	DNA	Ginkgo Bioworks Holdings	Pair Corr
0.66	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.69	INBX	Inhibrx Biosciences,	Pair Corr

Moving against Codexis Stock

0.38	BMY	Bristol Myers Squibb	Pair Corr
0.36	VALN	Valneva SE ADR	Pair Corr
0.33	ERNA	Eterna Therapeutics	Pair Corr
0.31	DYAI	Dyadic International	Pair Corr
0.4	PCRX	Pacira BioSciences,	Pair Corr
0.32	ICUCW	LMF Acquisition Oppo	Pair Corr
0.5	AMPH	Amphastar P	Pair Corr
0.36	ANIK	Anika Therapeutics	Pair Corr

Related Correlations Analysis

	CCCC	CDNA	ERAS	GBIO	PSNL	RPTX	VCYT
CCCC		0.3	0.4	0.12	0.24	0.21	0.02	CCCC
CDNA	0.3		0.3	-0.25	0.55	0.29	-0.44	CDNA
ERAS	0.4	0.3		0.29	0.34	0.63	-0.23	ERAS
GBIO	0.12	-0.25	0.29		-0.58	-0.05	0.45	GBIO
PSNL	0.24	0.55	0.34	-0.58		0.71	-0.76	PSNL
RPTX	0.21	0.29	0.63	-0.05	0.71		-0.64	RPTX
VCYT	0.02	-0.44	-0.23	0.45	-0.76	-0.64		VCYT
	CCCC	CDNA	ERAS	GBIO	PSNL	RPTX	VCYT

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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

RPTX	+ 0.71	PSNL
RPTX	+ 0.63	ERAS
PSNL	+ 0.55	CDNA
VCYT	+ 0.45	GBIO
ERAS	+ 0.4	CCCC
PSNL	+ 0.34	ERAS

High negative correlations

VCYT	- 0.76	PSNL
VCYT	- 0.64	RPTX
PSNL	- 0.58	GBIO
VCYT	- 0.44	CDNA
GBIO	- 0.25	CDNA
VCYT	- 0.23	ERAS

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
CCCC	5.61	0.96	0.18	1.09	4.83	(6.87)	13.64	(8.11)	26.60
CDNA	2.66	0.18	(0.02)	(1.83)	3.63	(2.74)	5.35	(6.23)	16.89
ERAS	4.03	0.53	0.04	(0.94)	4.70	(4.74)	7.09	(8.23)	40.51
GBIO	4.37	0.35	0.00	(0.46)	4.76	(6.69)	8.57	(9.09)	35.59
PSNL	3.44	1.28	0.25	(3.39)	3.04	(4.04)	7.91	(6.10)	31.34
RPTX	2.81	0.95	0.17	(1.89)	2.37	(4.06)	7.75	(5.00)	26.67
VCYT	1.65	(0.23)	0.00	1.66	0.00	0.00	2.98	(4.44)	8.25

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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