CODX vs. RTX

Last updated Jun 4, 2026

CODX (Co-Diagnostics, Inc.) and RTX (Raytheon Technologies Corporation) are both stocks. CODX operates in Diagnostics & Research (Healthcare), while RTX operates in Aerospace & Defense (Industrials). Over the past 5 years, CODX returned -54.03%/yr vs 16.69%/yr for RTX. At a 0.04 correlation, their price movements are largely independent.

Performance

CODX vs. RTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Co-Diagnostics, Inc. (CODX) and Raytheon Technologies Corporation (RTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CODX achieves a 2.21% return, which is significantly higher than RTX's -5.21% return.

CODX

• 1D: -16.88%
• 1M: 229.30%
• YTD: 2.21%
• 6M: -51.67%
• 1Y: -39.26%
• 3Y*: -45.93%
• 5Y*: -54.03%
• 10Y*: —

RTX

• 1D: -0.98%
• 1M: 0.21%
• YTD: -5.21%
• 6M: 3.20%
• 1Y: 27.49%
• 3Y*: 24.15%
• 5Y*: 16.69%
• 10Y*: 15.06%

*Multi-year figures are annualized to reflect compound growth (CAGR)

CODX vs. RTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CODX Co-Diagnostics, Inc.	2.21%	-77.52%	-43.61%	-47.22%	-71.78%	-3.98%	939.11%	-39.93%	-43.56%	-54.56%
RTX Raytheon Technologies Corporation	-5.21%	61.44%	40.76%	-14.44%	20.01%	23.27%	-7.70%	43.82%	-14.66%	4.37%

Correlation

The correlation between CODX and RTX is 0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.03
Correlation (3Y) Calculated over the trailing 3-year period	0.03
Correlation (5Y) Calculated over the trailing 5-year period	0.10
Correlation (All Time) Calculated using the full available price history since Jul 13, 2017	0.04

Fundamentals

Market Cap CODX : $6.88M RTX : $235.46B
EPS CODX : -$38.06 RTX : $5.34
PS Ratio CODX : 10.23 RTX : 2.60
PB Ratio CODX : 0.33 RTX : 3.55
Total Revenue (TTM) CODX : $622.49K RTX : $90.37B
Gross Profit (TTM) CODX : $400.11K RTX : $18.27B
EBITDA (TTM) CODX : -$47.41M RTX : $13.81B

Return for Risk

CODX vs. RTX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CODX

CODX Risk / Return Rank: 52
CODX Sharpe Ratio Rank: 36
CODX Sortino Ratio Rank: 83
CODX Omega Ratio Rank: 86
CODX Calmar Ratio Rank: 27
CODX Martin Ratio Rank: 30

RTX

RTX Risk / Return Rank: 70
RTX Sharpe Ratio Rank: 75
RTX Sortino Ratio Rank: 70
RTX Omega Ratio Rank: 68
RTX Calmar Ratio Rank: 67
RTX Martin Ratio Rank: 71

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CODX vs. RTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Co-Diagnostics, Inc. (CODX) and Raytheon Technologies Corporation (RTX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	CODX	RTX	Difference
Sharpe ratio Return per unit of total volatility	-0.11	1.17	-1.28
Sortino ratio Return per unit of downside risk	2.58	1.78	+0.80
Omega ratio Gain probability vs. loss probability	1.37	1.22	+0.15
Calmar ratio Return relative to maximum drawdown	-0.41	1.43	-1.84
Martin ratio Return relative to average drawdown	-0.57	4.12	-4.69
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CODX vs. RTX - Sharpe Ratio Comparison

The current CODX Sharpe Ratio is -0.11, which is lower than the RTX Sharpe Ratio of 1.17. The chart below compares the historical Sharpe Ratios of CODX and RTX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CODX	RTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.11	1.17	-1.28
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.31	0.71	-1.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.55	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.19	0.43	-0.63

Drawdowns

CODX vs. RTX - Drawdown Comparison

The maximum CODX drawdown since its inception was -99.86%, which is greater than RTX's maximum drawdown of -55.14%. Use the drawdown chart below to compare losses from any high point for CODX and RTX.

Drawdown Indicators

	CODX	RTX	Difference
Max Drawdown Largest peak-to-trough decline	-99.86%	-55.14%	-44.72%
Max Drawdown (1Y) Largest decline over 1 year	-96.60%	-19.32%	-77.28%
Max Drawdown (3Y) Largest decline over 3 years	-97.68%	-29.92%	-67.76%
Max Drawdown (5Y) Largest decline over 5 years	-99.62%	-32.84%	-66.78%
Max Drawdown (10Y) Largest decline over 10 years	—	-51.98%	—
Current Drawdown Current decline from peak	-99.44%	-18.33%	-81.11%
Average Drawdown Average peak-to-trough decline	-76.54%	-13.03%	-63.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	68.94%	6.68%	+62.26%

Volatility

CODX vs. RTX - Volatility Comparison

Co-Diagnostics, Inc. (CODX) has a higher volatility of 122.80% compared to Raytheon Technologies Corporation (RTX) at 6.51%. This indicates that CODX's price experiences larger fluctuations and is considered to be riskier than RTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CODX	RTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	122.80%	6.51%	+116.29%
Volatility (6M) Calculated over the trailing 6-month period	188.76%	17.45%	+171.31%
Volatility (1Y) Calculated over the trailing 1-year period	349.97%	23.65%	+326.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	172.26%	23.79%	+148.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	171.74%	27.71%	+144.03%

Dividends

CODX vs. RTX - Dividend Comparison

CODX has not paid dividends to shareholders, while RTX's dividend yield for the trailing twelve months is around 1.61%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CODX Co-Diagnostics, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
RTX Raytheon Technologies Corporation	1.61%	1.46%	2.14%	2.76%	2.14%	2.33%	21.21%	1.96%	2.66%	2.13%	2.39%	2.66%

Financials

Frequently Asked Questions

Can I hold both CODX and RTX in my portfolio?

CODX and RTX have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CODX or RTX?

CODX has higher volatility (122.80%) compared to RTX (6.51%). In terms of maximum drawdown, CODX dropped -99.86% vs RTX's -55.14%.

Which has better risk-adjusted returns?

RTX currently has the higher Sharpe Ratio (1.17 vs -0.11), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.