Kodiak Sciences Correlations

KOD Stock

USD 3.09 0.12 3.74%

The current 90-days correlation between Kodiak Sciences and Reviva Pharmaceuticals Holdings is -0.19 (i.e., Good diversification). The correlation of Kodiak Sciences 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.

Kodiak Sciences Correlation With Market

Weak diversification

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

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Kodiak Sciences. 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 Kodiak Stock refer to our How to Trade Kodiak Stock guide.

Moving together with Kodiak Stock

0.9	EYEN	Eyenovia	Pair Corr
0.7	MOLN	Molecular Partners	Pair Corr
0.68	SNDL	SNDL Inc	Pair Corr
0.9	CLDX	Celldex Therapeutics	Pair Corr
0.83	CRNX	Crinetics Pharmaceuticals	Pair Corr
0.71	GKOS	Glaukos Corp	Pair Corr
0.65	LIVN	LivaNova PLC	Pair Corr
0.7	MDAI	Spectral AI	Pair Corr
0.87	MODD	Modular Medical	Pair Corr
0.82	APYX	Apyx Medical	Pair Corr
0.87	SGHT	Sight Sciences	Pair Corr
0.9	SRDX	SurModics	Pair Corr
0.8	CNMD	CONMED	Pair Corr

Moving against Kodiak Stock

0.91	FNA	Paragon 28	Pair Corr
0.89	CPIX	Cumberland Pharmaceuticals	Pair Corr
0.78	CMRX	Chimerix Sell-off Trend	Pair Corr
0.35	OPT	Opthea	Pair Corr
0.92	NVRO	Nevro Corp	Pair Corr
0.89	LUCD	Lucid Diagnostics Buyout Trend	Pair Corr
0.76	INMD	InMode	Pair Corr
0.65	LUNG	Pulmonx Corp	Pair Corr
0.63	NYXH	Nyxoah	Pair Corr
0.4	MASI	Masimo	Pair Corr
0.89	BRK-A	Berkshire Hathaway	Pair Corr
0.89	BRK-B	Berkshire Hathaway	Pair Corr
0.84	FWEDF	Fireweed Zinc	Pair Corr
0.75	TOI	Oncology Institute Earnings Call This Week	Pair Corr
0.65	TRGGF	Tarachi Gold Corp	Pair Corr
0.64	NHNCF	NAVER Corp	Pair Corr

Related Correlations Analysis

	RVPHW	EYEN	CGTX	RNAZ	ASMB	TIL	NLTX	SPRO	CTMX	CKPT
RVPHW		0.66	0.48	0.26	0.77	0.29	0.0	0.77	0.69	-0.01	RVPHW
EYEN	0.66		0.58	-0.16	0.87	0.08	0.0	0.89	0.82	0.19	EYEN
CGTX	0.48	0.58		0.27	0.75	0.42	0.0	0.47	0.53	-0.15	CGTX
RNAZ	0.26	-0.16	0.27		0.14	0.63	0.0	0.07	0.23	-0.11	RNAZ
ASMB	0.77	0.87	0.75	0.14		0.28	0.0	0.85	0.86	-0.01	ASMB
TIL	0.29	0.08	0.42	0.63	0.28		0.0	0.2	0.32	-0.03	TIL
NLTX	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	NLTX
SPRO	0.77	0.89	0.47	0.07	0.85	0.2	0.0		0.91	0.23	SPRO
CTMX	0.69	0.82	0.53	0.23	0.86	0.32	0.0	0.91		0.26	CTMX
CKPT	-0.01	0.19	-0.15	-0.11	-0.01	-0.03	0.0	0.23	0.26		CKPT
	RVPHW	EYEN	CGTX	RNAZ	ASMB	TIL	NLTX	SPRO	CTMX	CKPT

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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

CTMX	+ 0.91	SPRO
SPRO	+ 0.89	EYEN
ASMB	+ 0.87	EYEN
CTMX	+ 0.86	ASMB
SPRO	+ 0.85	ASMB
CTMX	+ 0.82	EYEN

High negative correlations

RNAZ	- 0.16	EYEN
CKPT	- 0.15	CGTX
CKPT	- 0.11	RNAZ
CKPT	- 0.03	TIL
CKPT	- 0.01	ASMB
CKPT	- 0.01	RVPHW

Risk-Adjusted Indicators

There is a big difference between Kodiak Stock performing well and Kodiak Sciences 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 Kodiak Sciences' 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
RVPHW	12.88	(1.24)	0.00	(0.58)	0.00	0.00	27.27	(24.32)	96.02
EYEN	6.71	(1.83)	0.00	1.20	0.00	0.00	16.56	(17.81)	65.21
CGTX	4.48	0.17	0.02	0.03	4.29	(6.77)	9.09	(6.94)	39.60
RNAZ	10.09	(1.96)	0.00	(0.55)	0.00	0.00	28.00	(24.78)	94.32
ASMB	3.02	(0.34)	0.00	(0.36)	0.00	0.00	6.63	(5.05)	24.82
TIL	5.57	0.21	0.01	0.00	6.01	(6.13)	13.25	(9.64)	34.30
NLTX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SPRO	2.57	(0.51)	0.00	(1.17)	0.00	0.00	4.85	(6.25)	21.98
CTMX	3.64	(0.60)	0.00	(0.36)	0.00	0.00	7.32	(7.45)	17.13
CKPT	4.83	0.19	0.09	(0.17)	4.24	(6.72)	10.94	(6.80)	61.63

Kodiak Sciences Corporate Management

Tracy Chien	VP Controller	Profile
Almas MSc	Senior Operations	Profile
Victor MD	Chairman, CoFounder	Profile
Michael Louie	Senior Officer	Profile
CPA MBA	CFO VP	Profile
Pablo MD	Senior Development	Profile
Stephen Raillard	Senior Manufacturing	Profile

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