Scilex Holding Correlations

SCLX Stock

0.28 0.01 3.45%

The current 90-days correlation between Scilex Holding and AstraZeneca PLC ADR is 0.14 (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

Good diversification

The correlation between Scilex Holding and DJI is -0.02 (i.e., Good 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.

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

0.76	EYEN	Eyenovia	Pair Corr
0.86	CGC	Canopy Growth Corp	Pair Corr
0.66	MRK	Merck Company	Pair Corr
0.84	ISPC	iSpecimen	Pair Corr
0.77	ITOS	Iteos Therapeutics	Pair Corr
0.71	MOLN	Molecular Partners	Pair Corr
0.81	MREO	Mereo BioPharma Group	Pair Corr
0.86	ANNX	Annexon Earnings Call This Week	Pair Corr
0.79	ASMB	Assembly Biosciences Earnings Call This Week	Pair Corr
0.63	SNDL	SNDL Inc	Pair Corr
0.84	BLUE	Bluebird bio Earnings Call This Week	Pair Corr
0.82	TLRY	Tilray Inc	Pair Corr
0.89	CLDX	Celldex Therapeutics	Pair Corr
0.75	CRNX	Crinetics Pharmaceuticals	Pair Corr
0.79	CRVS	Corvus Pharmaceuticals	Pair Corr
0.68	GKOS	Glaukos Corp	Pair Corr
0.65	ITGR	Integer Holdings Corp	Pair Corr
0.75	LIVN	LivaNova PLC	Pair Corr

Moving against Scilex Stock

0.31	OPT	Opthea	Pair Corr
0.88	LUCD	Lucid Diagnostics Buyout Trend	Pair Corr
0.84	CPIX	Cumberland Pharmaceuticals	Pair Corr
0.79	FNA	Paragon 28	Pair Corr
0.79	NVRO	Nevro Corp	Pair Corr
0.77	LUNG	Pulmonx Corp	Pair Corr
0.68	CMRX	Chimerix Sell-off Trend	Pair Corr
0.65	INMD	InMode	Pair Corr
0.46	NYXH	Nyxoah	Pair Corr
0.39	MASI	Masimo	Pair Corr
0.36	CYTH	Cyclo Therapeutics	Pair Corr

Related Correlations Analysis

	AZN	HZNP	GILD	BMY	AMGN	LLY	ABBV	MRK	BIIB	SNY
AZN		0.0	0.95	0.56	0.97	0.82	0.95	-0.63	-0.55	0.94	AZN
HZNP	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	HZNP
GILD	0.95	0.0		0.58	0.94	0.77	0.96	-0.54	-0.48	0.89	GILD
BMY	0.56	0.0	0.58		0.63	0.3	0.57	0.05	-0.02	0.7	BMY
AMGN	0.97	0.0	0.94	0.63		0.77	0.94	-0.6	-0.51	0.94	AMGN
LLY	0.82	0.0	0.77	0.3	0.77		0.77	-0.72	-0.45	0.67	LLY
ABBV	0.95	0.0	0.96	0.57	0.94	0.77		-0.56	-0.46	0.89	ABBV
MRK	-0.63	0.0	-0.54	0.05	-0.6	-0.72	-0.56		0.73	-0.54	MRK
BIIB	-0.55	0.0	-0.48	-0.02	-0.51	-0.45	-0.46	0.73		-0.53	BIIB
SNY	0.94	0.0	0.89	0.7	0.94	0.67	0.89	-0.54	-0.53		SNY
	AZN	HZNP	GILD	BMY	AMGN	LLY	ABBV	MRK	BIIB	SNY

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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

AMGN	+ 0.97	AZN
ABBV	+ 0.96	GILD
GILD	+ 0.95	AZN
ABBV	+ 0.95	AZN
SNY	+ 0.94	AZN
AMGN	+ 0.94	GILD

High negative correlations

MRK	- 0.72	LLY
MRK	- 0.63	AZN
MRK	- 0.6	AMGN
MRK	- 0.56	ABBV
BIIB	- 0.55	AZN
SNY	- 0.54	MRK

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
AZN	0.96	0.22	0.23	1.26	0.99	(1.06)	2.00	(1.91)	5.20
HZNP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GILD	1.10	0.27	0.24	1.08	1.06	(1.20)	2.28	(2.23)	9.83
BMY	1.19	0.11	0.10	8.09	1.76	(1.07)	3.18	(2.80)	7.43
AMGN	1.05	0.27	0.20	0.47	1.25	(1.06)	2.22	(2.59)	9.76
LLY	1.51	0.13	0.07	0.15	2.14	(1.56)	2.45	(4.21)	10.31
ABBV	1.05	0.32	0.39	3.71	0.69	(1.26)	2.37	(1.47)	6.46
MRK	1.16	(0.07)	0.00	0.80	0.00	0.00	2.07	(1.80)	11.58
BIIB	1.33	(0.14)	0.00	(0.58)	0.00	0.00	2.50	(3.41)	8.44
SNY	1.17	0.29	0.28	(1.69)	0.99	(1.43)	2.77	(1.82)	10.59

Scilex Holding Corporate Management

Steven JD	Interim Officer	Profile
Gigi DeGuzman	Executive Resources	Profile
Dmitri MD	Senior Officer	Profile
Sumant Rajendran	Executive Marketing	Profile

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