NEOS Investment Correlations

EV Etf

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The current 90-days correlation between NEOS Investment Mana and Zillow Group Class is 0.07 (i.e., Significant diversification). The correlation of NEOS Investment 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.

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Moving together with NEOS Etf

0.61

ARKC

ARK 21Shares Active Low Volatility

Pair Corr

Moving against NEOS Etf

0.77	URNM	Sprott Uranium Miners	Pair Corr
0.73	XME	SPDR SP Metals	Pair Corr
0.71	MOO	VanEck Agribusiness ETF	Pair Corr
0.66	PHO	Invesco Water Resources	Pair Corr
0.65	FIW	First Trust Water	Pair Corr
0.62	JNUG	Direxion Daily Junior	Pair Corr
0.59	XLB	Materials Select Sector	Pair Corr
0.59	VAW	Vanguard Materials Index	Pair Corr
0.59	IYM	iShares Basic Materials	Pair Corr
0.51	NUGT	Direxion Daily Gold	Pair Corr
0.5	GDXU	MicroSectors Gold Miners	Pair Corr
0.47	GDMN	WisdomTree Efficient Gold Low Volatility	Pair Corr
0.46	FXZ	First Trust Materials	Pair Corr
0.75	BTFD	Valkyrie Bitcoin Strategy	Pair Corr
0.75	COPJ	Sprott Junior Copper	Pair Corr
0.74	EURL	Direxion Daily FTSE	Pair Corr
0.73	DVQQ	WEBs Defined Volatility	Pair Corr
0.72	CGIE	Capital Group Intern	Pair Corr
0.71	AGEM	abrdn Emerging Markets	Pair Corr
0.7	QGRW	WisdomTree Trust	Pair Corr
0.69	IPAC	iShares Core MSCI	Pair Corr
0.65	WTMF	WisdomTree Managed	Pair Corr
0.65	BENJ	Horizon Funds	Pair Corr
0.62	OBND	SSGA Active Trust	Pair Corr
0.6	DCPE	DoubleLine Shiller CAPE	Pair Corr
0.6	ODCEX	ODCEX	Pair Corr
0.6	GSIG	Goldman Sachs Access	Pair Corr
0.59	EMCG	Embrace Change Acqui	Pair Corr
0.53	PICB	Invesco International	Pair Corr
0.8	NIKL	Sprott Nickel Miners	Pair Corr
0.75	PWRD	Perfect World Symbol Change	Pair Corr
0.72	FMAY	First Trust Exchange	Pair Corr
0.72	GLOF	iShares MSCI Global	Pair Corr
0.72	JIRE	JP Morgan Exchange	Pair Corr
0.72	VOLT	Tema Electrification ETF	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.88	0.72	0.78	0.39	0.64	0.61	0.84	-0.14	0.05	META
MSFT	0.88		0.91	0.84	0.54	0.28	0.46	0.93	-0.5	-0.28	MSFT
UBER	0.72	0.91		0.9	0.51	0.16	0.57	0.93	-0.55	-0.24	UBER
F	0.78	0.84	0.9		0.52	0.46	0.69	0.9	-0.28	0.11	F
T	0.39	0.54	0.51	0.52		0.08	0.07	0.62	-0.33	0.06	T
A	0.64	0.28	0.16	0.46	0.08		0.64	0.34	0.6	0.68	A
CRM	0.61	0.46	0.57	0.69	0.07	0.64		0.54	0.2	0.36	CRM
JPM	0.84	0.93	0.93	0.9	0.62	0.34	0.54		-0.46	-0.07	JPM
MRK	-0.14	-0.5	-0.55	-0.28	-0.33	0.6	0.2	-0.46		0.72	MRK
XOM	0.05	-0.28	-0.24	0.11	0.06	0.68	0.36	-0.07	0.72		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.93	MSFT
JPM	+ 0.93	UBER
UBER	+ 0.91	MSFT
F	+ 0.9	UBER
JPM	+ 0.9	F
MSFT	+ 0.88	META

High negative correlations

MRK	- 0.55	UBER
MRK	- 0.5	MSFT
MRK	- 0.46	JPM
MRK	- 0.33	T
MRK	- 0.28	F
XOM	- 0.28	MSFT

NEOS Investment Competition Risk-Adjusted Indicators

There is a big difference between NEOS Etf performing well and NEOS Investment ETF 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 NEOS Investment'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
META	2.16	0.14	0.05	0.12	2.73	(2.36)	4.23	(4.67)	21.50
MSFT	1.27	0.30	0.19	0.34	1.18	(1.38)	2.58	(2.36)	13.79
UBER	1.95	0.23	0.10	0.21	2.33	(2.12)	4.19	(3.48)	16.18
F	1.70	0.13	0.06	0.18	2.25	(1.78)	2.90	(3.84)	13.07
T	1.17	0.15	0.07	0.53	1.76	(1.21)	2.01	(2.62)	8.83
A	1.81	(0.05)	0.00	(0.01)	0.00	0.00	3.24	(4.15)	14.45
CRM	1.66	(0.17)	0.00	(0.10)	0.00	0.00	3.02	(4.45)	13.13
JPM	1.34	0.21	0.09	0.22	1.96	(1.39)	2.88	(2.12)	11.14
MRK	1.58	(0.20)	0.00	(0.26)	0.00	0.00	2.55	(4.72)	10.60
XOM	1.32	0.04	0.01	0.08	2.15	(1.28)	2.80	(2.77)	10.53

NEOS Investment Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with NEOS Investment etf to make a market-neutral strategy. Peer analysis of NEOS Investment could also be used in its relative valuation, which is a method of valuing NEOS Investment by comparing valuation metrics with similar companies.

NEOS Investment Management NEOS ETF Trust FT Vest Equity Zillow Group Class Northern Lights VanEck Vectors Moodys BMO Dividend ETF American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp Chevron Corp

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