Scilex Holding Correlations

SCLX Stock

29.21 0.34 1.18%

The current 90-days correlation between Scilex Holding and Scilex Holding is 0.12 (i.e., Average 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

Weak diversification

The correlation between Scilex Holding and DJI is 0.37 (i.e., Weak 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.

Build AI portfolio with Scilex Stock

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

0.82	EQ	Equillium	Pair Corr
0.61	KG	KING PHARMACEUTICALS INC Symbol Change	Pair Corr
0.93	DMAC	DiaMedica Therapeutics	Pair Corr
0.8	VALN	Valneva SE ADR	Pair Corr
0.86	DNTH	Dianthus Therapeutics	Pair Corr
0.81	VCYT	Veracyte	Pair Corr
0.81	DRRX	Durect	Pair Corr
0.96	DRUG	Bright Minds Biosciences	Pair Corr
0.83	DRTS	Alpha Tau Medical	Pair Corr
0.66	CDIOW	Cardio Diagnostics	Pair Corr
0.92	DSGN	Design Therapeutics	Pair Corr
0.79	VIVS	VivoSim Labs, Symbol Change	Pair Corr
0.86	VRDN	Viridian Therapeutics	Pair Corr
0.63	VRNA	Verona Pharma PLC	Pair Corr
0.89	VSTM	Verastem	Pair Corr
0.85	VTGN	VistaGen Therapeutics	Pair Corr
0.63	VTRS	Viatris	Pair Corr
0.69	VTVT	vTv Therapeutics	Pair Corr
0.71	EDSA	Edesa Biotech	Pair Corr

Moving against Scilex Stock

0.88	VCEL	Vericel Corp Ord	Pair Corr
0.8	VRCA	Verrica Pharmaceuticals	Pair Corr
0.76	DRMA	Dermata Therapeutics Upward Rally	Pair Corr
0.76	VRAX	Virax Biolabs Group	Pair Corr
0.58	SRZNW	Surrozen Warrant	Pair Corr
0.53	KTTAW	Pasithea Therapeutics	Pair Corr
0.52	DVAX	Dynavax Technologies	Pair Corr
0.31	VKTX	Viking Therapeutics	Pair Corr
0.9	ERNA	Eterna Therapeutics	Pair Corr
0.84	ENVB	Enveric Biosciences	Pair Corr
0.82	VYNE	Vyne Therapeutics	Pair Corr
0.81	EOLS	Evolus Inc	Pair Corr
0.79	VRTX	Vertex Pharmaceuticals	Pair Corr
0.75	EPIX	ESSA Pharma	Pair Corr
0.73	ELUT	Elutia Inc	Pair Corr
0.69	ELDN	Eledon Pharmaceuticals Buyout Trend	Pair Corr
0.55	ELVN	Enliven Therapeutics	Pair Corr

Related Correlations Analysis

	SCLXW	AMRN	BIIB	GILD	AZN	CELU	IBRX
SCLXW		-0.72	0.21	0.59	0.66	0.74	-0.61	SCLXW
AMRN	-0.72		-0.22	-0.31	-0.49	-0.32	0.26	AMRN
BIIB	0.21	-0.22		0.43	0.76	-0.15	-0.25	BIIB
GILD	0.59	-0.31	0.43		0.61	0.4	-0.36	GILD
AZN	0.66	-0.49	0.76	0.61		0.35	-0.62	AZN
CELU	0.74	-0.32	-0.15	0.4	0.35		-0.45	CELU
IBRX	-0.61	0.26	-0.25	-0.36	-0.62	-0.45		IBRX
	SCLXW	AMRN	BIIB	GILD	AZN	CELU	IBRX

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

AZN	+ 0.76	BIIB
CELU	+ 0.74	SCLXW
AZN	+ 0.66	SCLXW
AZN	+ 0.61	GILD
GILD	+ 0.59	SCLXW
GILD	+ 0.43	BIIB

High negative correlations

AMRN	- 0.72	SCLXW
IBRX	- 0.62	AZN
IBRX	- 0.61	SCLXW
AZN	- 0.49	AMRN
IBRX	- 0.45	CELU
IBRX	- 0.36	GILD

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
SCLXW	12.85	3.28	0.21	(1.19)	11.50	(18.73)	36.36	(17.95)	154.36
AMRN	1.48	(0.07)	(0.06)	(0.01)	1.80	(1.68)	3.56	(3.01)	8.54
BIIB	1.52	0.03	0.01	0.14	1.53	(1.75)	4.21	(2.67)	8.28
GILD	1.24	(0.01)	0.00	0.09	1.43	(1.34)	2.65	(2.70)	11.09
AZN	1.10	0.03	0.00	0.15	1.29	(1.24)	3.00	(1.98)	8.15
CELU	5.64	0.54	0.06	0.49	8.38	(6.16)	16.34	(12.45)	73.01
IBRX	2.66	(0.06)	0.00	0.20	0.00	0.00	5.78	(5.52)	20.34

Scilex Holding Corporate Management

Elaine PharmD	Executive Affairs	Profile
Dmitri MD	Senior Officer	Profile
Sumant Rajendran	Executive Marketing	Profile
Suketu Desai	Chief Officer	Profile

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