Neogen Correlations

NEOG Stock

USD 5.52 0.31 5.95%

The current 90-days correlation between Neogen and Qiagen NV is -0.04 (i.e., Good diversification). The correlation of Neogen 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.

Neogen Correlation With Market

Good diversification

The correlation between Neogen and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Neogen and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Neogen Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Neogen. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

For more detail on how to invest in Neogen Stock please use our How to Invest in Neogen guide.

Moving together with Neogen Stock

0.81	BMRA	Biomerica	Pair Corr
0.85	EWTX	Edgewise Therapeutics	Pair Corr
0.88	BMY	Bristol Myers Squibb	Pair Corr
0.73	JNJ	Johnson Johnson	Pair Corr
0.84	MRK	Merck Company Aggressive Push	Pair Corr
0.85	PFE	Pfizer Inc	Pair Corr
0.61	GILD	Gilead Sciences	Pair Corr
0.67	GLUE	Monte Rosa Therapeutics	Pair Corr
0.73	PMVP	Pmv Pharmaceuticals	Pair Corr
0.71	RAPT	RAPT Therapeutics	Pair Corr
0.74	HUMAW	Humacyte	Pair Corr
0.85	ABBV	AbbVie Inc	Pair Corr
0.83	AMGN	Amgen Inc Sell-off Trend	Pair Corr
0.76	CCCC	C4 Therapeutics	Pair Corr
0.68	DAWN	Day One Biopharmaceu	Pair Corr
0.86	BAC-PL	Bank of America	Pair Corr

Moving against Neogen Stock

0.82	PHIO	Phio Pharmaceuticals Corp	Pair Corr
0.79	IVA	Inventiva Sa	Pair Corr
0.89	NEM	Newmont Goldcorp Corp	Pair Corr
0.84	TNYYF	Tinybeans Group	Pair Corr
0.75	FE	FirstEnergy	Pair Corr
0.69	BCH	Banco De Chile	Pair Corr
0.69	HSPTU	Horizon Space Acquisition	Pair Corr
0.65	VCICW	Vine Hill Capital	Pair Corr
0.55	FNMFO	Federal National Mortgage	Pair Corr
0.55	WF	Woori Financial Group	Pair Corr
0.53	SHG	Shinhan Financial	Pair Corr
0.51	LIDR	Aeye Inc	Pair Corr
0.5	KB	KB Financial Group	Pair Corr
0.43	STOK	Stoke Therapeutics	Pair Corr

Related Correlations Analysis

	QGEN	OLK	ACRS	SYNH	IQV	MEDP	ICLR	SHC	RDNT	MYGN
QGEN		0.0	-0.33	0.0	-0.71	-0.43	-0.76	0.4	0.69	-0.77	QGEN
OLK	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	OLK
ACRS	-0.33	0.0		0.0	0.79	0.77	0.75	0.18	-0.27	0.53	ACRS
SYNH	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	SYNH
IQV	-0.71	0.0	0.79	0.0		0.86	0.98	-0.04	-0.6	0.83	IQV
MEDP	-0.43	0.0	0.77	0.0	0.86		0.81	0.23	-0.28	0.59	MEDP
ICLR	-0.76	0.0	0.75	0.0	0.98	0.81		-0.18	-0.68	0.89	ICLR
SHC	0.4	0.0	0.18	0.0	-0.04	0.23	-0.18		0.66	-0.51	SHC
RDNT	0.69	0.0	-0.27	0.0	-0.6	-0.28	-0.68	0.66		-0.84	RDNT
MYGN	-0.77	0.0	0.53	0.0	0.83	0.59	0.89	-0.51	-0.84		MYGN
	QGEN	OLK	ACRS	SYNH	IQV	MEDP	ICLR	SHC	RDNT	MYGN

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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

ICLR	+ 0.98	IQV
MYGN	+ 0.89	ICLR
MEDP	+ 0.86	IQV
MYGN	+ 0.83	IQV
ICLR	+ 0.81	MEDP
IQV	+ 0.79	ACRS

High negative correlations

MYGN	- 0.84	RDNT
MYGN	- 0.77	QGEN
ICLR	- 0.76	QGEN
IQV	- 0.71	QGEN
RDNT	- 0.68	ICLR
RDNT	- 0.6	IQV

Risk-Adjusted Indicators

There is a big difference between Neogen Stock performing well and Neogen 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 Neogen'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
QGEN	1.44	0.27	0.15	0.33	1.58	(1.71)	4.59	(2.30)	10.08
OLK	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ACRS	3.30	(0.20)	0.00	(0.24)	0.00	0.00	7.38	(7.52)	19.29
SYNH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
IQV	2.17	(0.26)	0.00	(0.20)	0.00	0.00	3.69	(5.57)	17.46
MEDP	2.24	(0.12)	0.00	(0.10)	0.00	0.00	4.53	(5.59)	15.82
ICLR	2.18	(0.40)	0.00	(0.34)	0.00	0.00	4.37	(5.54)	17.38
SHC	2.07	0.10	0.04	0.07	2.52	(2.31)	3.96	(4.20)	21.87
RDNT	2.17	0.19	0.08	0.15	2.35	(2.50)	5.24	(4.47)	16.74
MYGN	4.00	(0.80)	0.00	(0.68)	0.00	0.00	8.40	(6.82)	50.58

Neogen Corporate Management

John Moylan	Corporate VP	Profile
Bill Waelke	Head Relations	Profile
Dr MBA	Chief Officer	Profile
Julie Mann	VP Officer	Profile
Amy Rocklin	Chief Secretary	Profile
David Naemura	Chief Officer	Profile

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