The air that we breathe is approx 78% nitrogen and only 21% oxygen(the remaining 1% is other trace gases).
Oxygen molecules are the ones that combine rapidly with the molecules of the fuel to create heat and raise the pressure in the combustion chamber to make power. NITROGEN DOESN'T BURN, but it sure takes up a lot of space in the intake manifold and combustion chambers. In addition, don't forget the humidity, i.e. water vapor suspended in the intake air.
For every 11 degrees F that you lower the intake temperature, you're rewarded with approx a 1% increase in horsepower. Therefore, if your underhood temperatures are in the 165 degree F(73 degrees C) range and it's 80 degrees F(26 degrees C) outside , you'll get a 7.7% increase by ducting cool air to the intake. If your running 100hp, then that turns to 107.7hp.
This is the amount of power your loosing from stock intake from manufacturers stated power figures, if you were ducting engine bay hot air.
This is why, pod filter in engine bay isn't recommeded unless it is ducting cold air... which would be a better system than the stock intake.
A short ram air intake with pod filter is pretty much a free flowing intake system opposed to the restrictive stock intake where there are many bends and un-smooth surfaces which will promote DRAG. But if it's sucking hot air then it's pretty useless.