Scworx Corp Correlations

WORX Stock

USD 0.60 0.10 14.29%

The current 90-days correlation between Scworx Corp and Modern Mobility Aids is 0.04 (i.e., Significant diversification). The correlation of Scworx Corp 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.

Scworx Corp Correlation With Market

Weak diversification

The correlation between Scworx Corp and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Scworx Corp and DJI in the same portfolio, assuming nothing else is changed.

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Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Scworx Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

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

Moving together with Scworx Stock

0.66	VSEE	VSee Health, Symbol Change	Pair Corr
0.75	WEAV	Weave Communications	Pair Corr
0.68	SLP	Simulations Plus Trending	Pair Corr
0.77	ZCMD	Zhongchao	Pair Corr
0.89	OMCL	Omnicell	Pair Corr
0.92	ONMD	OneMedNet Corp	Pair Corr
0.74	OTRK	Ontrak Inc	Pair Corr
0.65	PINC	Premier	Pair Corr
0.92	ACON	Aclarion	Pair Corr
0.75	AMWL	American Well Corp	Pair Corr
0.67	SHLT	SHL Telemedicine	Pair Corr
0.73	BTSG	BrightSpring Health	Pair Corr
0.66	VRPX	Virpax Pharmaceuticals	Pair Corr

Moving against Scworx Stock

0.62	OPRX	OPTIMIZERx Corp	Pair Corr
0.58	WGS	GeneDx Holdings Corp	Pair Corr
0.55	ACCD	Accolade Earnings Call This Week	Pair Corr
0.34	ONMDW	OneMedNet Corp	Pair Corr
0.83	CHE	Chemed Corp Earnings Call This Week	Pair Corr
0.73	COR	Cencora	Pair Corr
0.71	LFMDP	LifeMD Preferred Series	Pair Corr
0.59	TBRG	TruBridge	Pair Corr
0.48	YCBD-PA	cbdMD Inc	Pair Corr
0.47	HCA	HCA Holdings	Pair Corr
0.4	EPRX	Eupraxia Pharmaceuticals	Pair Corr
0.31	STRRP	Star Equity Holdings	Pair Corr

Related Correlations Analysis

	MDRM	VNTH	NRC	EUDA	NOUV	MITI	MDNWF	EVAHF	FOXO
MDRM		-0.05	0.29	-0.38	0.08	-0.16	0.0	0.3	0.45	MDRM
VNTH	-0.05		0.15	0.26	0.12	-0.09	0.0	-0.16	0.19	VNTH
NRC	0.29	0.15		0.27	-0.15	-0.21	0.0	-0.03	0.89	NRC
EUDA	-0.38	0.26	0.27		-0.16	-0.08	0.0	-0.19	0.21	EUDA
NOUV	0.08	0.12	-0.15	-0.16		0.02	0.0	0.16	-0.15	NOUV
MITI	-0.16	-0.09	-0.21	-0.08	0.02		0.0	-0.09	-0.29	MITI
MDNWF	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	MDNWF
EVAHF	0.3	-0.16	-0.03	-0.19	0.16	-0.09	0.0		0.0	EVAHF
FOXO	0.45	0.19	0.89	0.21	-0.15	-0.29	0.0	0.0		FOXO
	MDRM	VNTH	NRC	EUDA	NOUV	MITI	MDNWF	EVAHF	FOXO

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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

FOXO	+ 0.89	NRC
FOXO	+ 0.45	MDRM
EVAHF	+ 0.3	MDRM
NRC	+ 0.29	MDRM
EUDA	+ 0.27	NRC
EUDA	+ 0.26	VNTH

High negative correlations

EUDA	- 0.38	MDRM
FOXO	- 0.29	MITI
MITI	- 0.21	NRC
EVAHF	- 0.19	EUDA
NOUV	- 0.16	EUDA
EVAHF	- 0.16	VNTH

Risk-Adjusted Indicators

There is a big difference between Scworx Stock performing well and Scworx Corp 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 Scworx Corp'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
MDRM	9.66	0.95	0.03	(0.95)	13.25	(39.06)	25.00	(37.50)	160.00
VNTH	1.58	0.25	0.00	(26.79)	0.00	0.00	0.00	0.00	83.33
NRC	2.45	(0.56)	0.00	(0.93)	0.00	0.00	4.03	(6.53)	16.11
EUDA	3.63	(0.12)	0.00	10.10	0.00	0.00	7.47	(7.80)	19.28
NOUV	18.42	4.66	0.09	(1.57)	16.36	(100.00)	100.00	(50.00)	150.00
MITI	11.39	0.78	0.04	0.90	12.41	(21.62)	40.00	(28.57)	82.57
MDNWF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EVAHF	12.88	4.28	0.00	5.70	0.00	0.00	52.50	(22.73)	351.50
FOXO	7.01	(0.77)	0.00	(3.58)	0.00	0.00	17.39	(14.29)	88.13

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