Scilex Holding Correlations

SCLXW Stock

0.11 0.01 15.79%

The current 90-days correlation between Scilex Holding and Golden Energy Offshore is 0.18 (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 -0.15 (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 interest.

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

Moving together with Scilex Stock

0.74	EYEN	Eyenovia	Pair Corr
0.69	SNDL	SNDL Inc	Pair Corr
0.82	CLDX	Celldex Therapeutics	Pair Corr
0.7	CRNX	Crinetics Pharmaceuticals	Pair Corr
0.64	CRVS	Corvus Pharmaceuticals	Pair Corr
0.78	GKOS	Glaukos Corp	Pair Corr
0.68	ITGR	Integer Holdings Corp	Pair Corr
0.73	LIVN	LivaNova PLC	Pair Corr
0.72	MDAI	Spectral AI	Pair Corr
0.87	MODD	Modular Medical	Pair Corr
0.67	OTRK	Ontrak Inc	Pair Corr
0.73	APYX	Apyx Medical	Pair Corr
0.73	SGHT	Sight Sciences	Pair Corr
0.82	SRDX	SurModics	Pair Corr
0.79	CNMD	CONMED	Pair Corr

Moving against Scilex Stock

0.79	CPIX	Cumberland Pharmaceuticals Downward Rally	Pair Corr
0.78	CMRX	Chimerix	Pair Corr
0.73	FNA	Paragon 28	Pair Corr
0.79	LUCD	Lucid Diagnostics	Pair Corr
0.76	NVRO	Nevro Corp	Pair Corr
0.71	LUNG	Pulmonx Corp	Pair Corr
0.69	INMD	InMode	Pair Corr
0.48	NYXH	Nyxoah	Pair Corr
0.32	MASI	Masimo	Pair Corr
0.86	BRK-A	Berkshire Hathaway	Pair Corr
0.86	BRK-B	Berkshire Hathaway	Pair Corr
0.68	NHNCF	NAVER Corp	Pair Corr
0.66	FWEDF	Fireweed Zinc	Pair Corr
0.63	PKX	POSCO Holdings	Pair Corr
0.54	TRGGF	Tarachi Gold Corp	Pair Corr

Related Correlations Analysis

	VSH	BOW	KNOP	ATH-PD	GSHD	GEOUF
VSH		-0.01	-0.31	-0.09	0.29	-0.12	VSH
BOW	-0.01		-0.12	0.04	0.21	-0.24	BOW
KNOP	-0.31	-0.12		0.36	-0.31	0.12	KNOP
ATH-PD	-0.09	0.04	0.36		-0.06	0.19	ATH-PD
GSHD	0.29	0.21	-0.31	-0.06		-0.57	GSHD
GEOUF	-0.12	-0.24	0.12	0.19	-0.57		GEOUF
	VSH	BOW	KNOP	ATH-PD	GSHD	GEOUF

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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

ATH-PD	+ 0.36	KNOP
GSHD	+ 0.29	VSH
GSHD	+ 0.21	BOW
GEOUF	+ 0.19	ATH-PD
GEOUF	+ 0.12	KNOP
ATH-PD	+ 0.04	BOW

High negative correlations

GEOUF	- 0.57	GSHD
GSHD	- 0.31	KNOP
KNOP	- 0.31	VSH
GEOUF	- 0.24	BOW
KNOP	- 0.12	BOW
GEOUF	- 0.12	VSH

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
VSH	1.80	0.07	0.03	0.00	2.27	(1.92)	2.83	(3.63)	16.46
BOW	1.51	0.16	0.10	0.17	1.74	(1.62)	2.85	(3.32)	8.82
KNOP	1.64	0.21	0.13	0.25	1.63	(2.04)	3.81	(3.04)	11.46
ATH-PD	0.98	(0.03)	0.00	(0.16)	0.00	0.00	2.20	(2.79)	5.61
GSHD	2.12	0.20	0.07	0.09	2.37	(2.45)	4.49	(4.92)	21.17
GEOUF	0.70	(0.16)	0.00	0.16	0.00	0.00	0.00	(1.17)	19.51

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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