Neogen Correlations

NEOG Stock

USD 6.86 0.18 2.56%

The current 90-days correlation between Neogen and Opko Health is 0.12 (i.e., Average 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

Weak diversification

The correlation between Neogen and DJI is 0.36 (i.e., Weak 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 metropolitan statistical area.

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

Moving together with Neogen Stock

0.69

PROF

Profound Medical Corp

Pair Corr

Moving against Neogen Stock

0.67	IHC	Inspiration Healthcare	Pair Corr
0.6	AHG	Akso Health Group	Pair Corr
0.59	ICCM	Icecure Medical	Pair Corr
0.51	CREO	Creo Medical Group	Pair Corr
0.5	MBOT	Microbot Medical	Pair Corr
0.48	WOK	WORK Medical Technology	Pair Corr
0.46	688151	Hubei Huaqiang High	Pair Corr
0.43	SYK	Stryker	Pair Corr
0.33	OM	Outset Medical	Pair Corr
0.31	XRAY	Dentsply Sirona	Pair Corr
0.56	688050	Eyebright Medical	Pair Corr
0.53	RMTI	Rockwell Medical	Pair Corr
0.48	CMWCF	Cromwell Property	Pair Corr
0.41	TMCI	Treace Medical Concepts	Pair Corr
0.4	UTMD	Utah Medical Products	Pair Corr
0.4	HCMC	Healthier Choices	Pair Corr

Related Correlations Analysis

	OPK	AZTA	NVCR	TLRY	KMTS	BLFS	ZBIO	UPB	CNMD	NTLA
OPK		-0.22	0.86	0.8	-0.27	0.48	-0.71	-0.62	0.48	0.88	OPK
AZTA	-0.22		0.07	-0.51	0.15	0.03	0.6	0.63	-0.38	-0.28	AZTA
NVCR	0.86	0.07		0.66	-0.12	0.48	-0.49	-0.38	0.33	0.79	NVCR
TLRY	0.8	-0.51	0.66		-0.14	0.51	-0.61	-0.6	0.36	0.81	TLRY
KMTS	-0.27	0.15	-0.12	-0.14		0.18	0.42	0.49	-0.27	-0.22	KMTS
BLFS	0.48	0.03	0.48	0.51	0.18		-0.17	-0.02	0.28	0.57	BLFS
ZBIO	-0.71	0.6	-0.49	-0.61	0.42	-0.17		0.94	-0.82	-0.63	ZBIO
UPB	-0.62	0.63	-0.38	-0.6	0.49	-0.02	0.94		-0.75	-0.54	UPB
CNMD	0.48	-0.38	0.33	0.36	-0.27	0.28	-0.82	-0.75		0.38	CNMD
NTLA	0.88	-0.28	0.79	0.81	-0.22	0.57	-0.63	-0.54	0.38		NTLA
	OPK	AZTA	NVCR	TLRY	KMTS	BLFS	ZBIO	UPB	CNMD	NTLA

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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

UPB	+ 0.94	ZBIO
NTLA	+ 0.88	OPK
NVCR	+ 0.86	OPK
NTLA	+ 0.81	TLRY
TLRY	+ 0.8	OPK
NTLA	+ 0.79	NVCR

High negative correlations

CNMD	- 0.82	ZBIO
CNMD	- 0.75	UPB
ZBIO	- 0.71	OPK
NTLA	- 0.63	ZBIO
UPB	- 0.62	OPK
ZBIO	- 0.61	TLRY

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
OPK	1.74	(0.08)	0.00	(0.06)	0.00	0.00	3.03	(3.38)	15.48
AZTA	2.31	0.08	0.06	0.10	2.55	(2.62)	4.88	(4.97)	21.10
NVCR	2.48	(0.01)	0.02	0.06	2.85	(2.94)	5.31	(4.90)	17.03
TLRY	6.06	0.65	0.10	0.81	6.12	(7.37)	12.36	(8.33)	81.94
KMTS	2.80	0.47	0.15	0.31	3.16	(3.01)	6.19	(6.34)	27.13
BLFS	1.81	(0.23)	0.00	(0.08)	0.00	0.00	3.95	(4.03)	13.74
ZBIO	4.86	1.11	0.20	0.47	5.23	(5.28)	8.50	(8.19)	40.28
UPB	3.36	0.67	0.16	0.97	3.54	(3.71)	8.48	(5.15)	24.37
CNMD	1.87	(0.46)	0.00	(0.40)	0.00	0.00	2.98	(4.75)	15.16
NTLA	5.65	(0.06)	0.00	0.04	9.33	(6.10)	11.85	(8.86)	72.04

Neogen Corporate Management

Dr MBA	Chief Officer	Profile
Jeremy Yarwood	Chief Officer	Profile
David Naemura	Executive Officer	Profile
Bill Waelke	Head Relations	Profile

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