Scisparc Correlations

SPRC Stock

USD 0.21 0.01 4.55%

The current 90-days correlation between Scisparc and OncoSec Medical is 0.11 (i.e., Average diversification). The correlation of Scisparc 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.

Scisparc Correlation With Market

Good diversification

The correlation between Scisparc and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Scisparc 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 Scisparc. 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 information on how to trade Scisparc Stock refer to our How to Trade Scisparc Stock guide.

Moving together with Scisparc Stock

0.7	VALN	Valneva SE ADR	Pair Corr
0.81	VCNX	Vaccinex	Pair Corr
0.63	VINC	Vincerx Pharma	Pair Corr
0.89	VRAX	Virax Biolabs Group	Pair Corr
0.73	VRCA	Verrica Pharmaceuticals	Pair Corr
0.67	VRPX	Virpax Pharmaceuticals	Pair Corr
0.63	VTGN	VistaGen Therapeutics	Pair Corr

Moving against Scisparc Stock

0.54	VERA	Vera Therapeutics	Pair Corr
0.49	VCYT	Veracyte	Pair Corr
0.48	DMAC	DiaMedica Therapeutics Trending	Pair Corr
0.44	DRUG	Bright Minds Biosciences Trending	Pair Corr
0.39	SABSW	SAB Biotherapeutics	Pair Corr
0.79	VRDN	Viridian Therapeutics	Pair Corr
0.6	VRNA	Verona Pharma PLC	Pair Corr
0.52	VSTM	Verastem Trending	Pair Corr

Related Correlations Analysis

	ONCS	VRAX	HILS	ZVSA	UNCY	QNRX	CDIO	PXMD	YS	CVKD
ONCS		0.67	0.64	0.84	-0.76	-0.11	0.09	0.92	0.78	-0.85	ONCS
VRAX	0.67		0.88	0.49	-0.43	0.18	0.57	0.45	0.17	-0.73	VRAX
HILS	0.64	0.88		0.5	-0.44	0.25	0.48	0.48	0.17	-0.72	HILS
ZVSA	0.84	0.49	0.5		-0.81	0.07	-0.13	0.82	0.75	-0.66	ZVSA
UNCY	-0.76	-0.43	-0.44	-0.81		0.13	0.23	-0.8	-0.68	0.64	UNCY
QNRX	-0.11	0.18	0.25	0.07	0.13		0.18	-0.29	-0.41	0.13	QNRX
CDIO	0.09	0.57	0.48	-0.13	0.23	0.18		-0.14	-0.28	-0.18	CDIO
PXMD	0.92	0.45	0.48	0.82	-0.8	-0.29	-0.14		0.86	-0.75	PXMD
YS	0.78	0.17	0.17	0.75	-0.68	-0.41	-0.28	0.86		-0.55	YS
CVKD	-0.85	-0.73	-0.72	-0.66	0.64	0.13	-0.18	-0.75	-0.55		CVKD
	ONCS	VRAX	HILS	ZVSA	UNCY	QNRX	CDIO	PXMD	YS	CVKD

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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

PXMD	+ 0.92	ONCS
HILS	+ 0.88	VRAX
YS	+ 0.86	PXMD
ZVSA	+ 0.84	ONCS
PXMD	+ 0.82	ZVSA
YS	+ 0.78	ONCS

High negative correlations

CVKD	- 0.85	ONCS
UNCY	- 0.81	ZVSA
PXMD	- 0.8	UNCY
UNCY	- 0.76	ONCS
CVKD	- 0.75	PXMD
CVKD	- 0.73	VRAX

Risk-Adjusted Indicators

There is a big difference between Scisparc Stock performing well and Scisparc 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 Scisparc'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
ONCS	6.83	(3.32)	0.00	18.83	0.00	0.00	9.30	(21.05)	79.76
VRAX	5.71	(0.95)	0.00	2.22	0.00	0.00	9.65	(12.90)	61.28
HILS	5.56	(0.90)	0.00	(0.22)	0.00	0.00	8.33	(7.89)	113.15
ZVSA	3.98	(0.81)	0.00	0.50	0.00	0.00	7.57	(9.60)	78.93
UNCY	4.14	1.07	0.19	0.84	4.13	(5.41)	10.26	(7.32)	29.22
QNRX	5.95	0.39	0.06	0.40	6.53	(8.76)	17.65	(9.68)	74.46
CDIO	6.33	(0.58)	(0.01)	0.01	6.76	(10.01)	14.81	(13.16)	57.04
PXMD	3.75	(1.11)	0.00	(1.21)	0.00	0.00	7.63	(7.28)	23.71
YS	4.91	(0.62)	0.00	(1.39)	0.00	0.00	10.29	(10.53)	36.81
CVKD	6.06	1.16	0.18	0.70	6.02	(6.91)	17.85	(9.54)	47.47

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