Neo Performance Correlations

NEO Stock

CAD 19.06 0.12 0.63%

The current 90-days correlation between Neo Performance Materials and Omai Gold Mines is 0.07 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Neo Performance moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Neo Performance Materials moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Neo Performance Correlation With Market

Modest diversification

The correlation between Neo Performance Materials and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Neo Performance Materials and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Neo Performance could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Neo Performance when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Neo Performance - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Neo Performance Materials to buy it.

Moving together with Neo Stock

0.68	URZ	Urz Energy Corp	Pair Corr
0.7	AML	Argus Metals Corp	Pair Corr

Moving against Neo Stock

0.77	AAPL	Apple Inc CDR	Pair Corr
0.77	AAPL	Apple CDR	Pair Corr
0.58	GOOG	Alphabet CDR	Pair Corr
0.58	GOOG	Alphabet CDR	Pair Corr
0.39	AX-UN	Artis Real Estate	Pair Corr
0.37	KTO	K2 Gold	Pair Corr
0.36	VM	Voyageur Pharmaceuticals	Pair Corr
0.35	FDR	Flinders Resources Earnings Call This Week	Pair Corr

Related Correlations Analysis

	OMG	IFOS	ARA	PRB	ASCU	ATX	UCU	AMRQ	THX	DBM
OMG		-0.27	-0.4	0.55	0.84	0.72	-0.16	0.75	0.73	0.84	OMG
IFOS	-0.27		0.13	0.18	-0.13	-0.19	0.19	-0.19	-0.57	-0.2	IFOS
ARA	-0.4	0.13		-0.69	-0.27	0.01	0.69	-0.05	-0.03	-0.39	ARA
PRB	0.55	0.18	-0.69		0.48	0.17	-0.25	0.24	0.12	0.61	PRB
ASCU	0.84	-0.13	-0.27	0.48		0.89	-0.18	0.78	0.64	0.92	ASCU
ATX	0.72	-0.19	0.01	0.17	0.89		0.04	0.85	0.73	0.75	ATX
UCU	-0.16	0.19	0.69	-0.25	-0.18	0.04		0.08	0.11	-0.22	UCU
AMRQ	0.75	-0.19	-0.05	0.24	0.78	0.85	0.08		0.76	0.74	AMRQ
THX	0.73	-0.57	-0.03	0.12	0.64	0.73	0.11	0.76		0.62	THX
DBM	0.84	-0.2	-0.39	0.61	0.92	0.75	-0.22	0.74	0.62		DBM
	OMG	IFOS	ARA	PRB	ASCU	ATX	UCU	AMRQ	THX	DBM

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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

DBM	+ 0.92	ASCU
ATX	+ 0.89	ASCU
AMRQ	+ 0.85	ATX
ASCU	+ 0.84	OMG
DBM	+ 0.84	OMG
AMRQ	+ 0.78	ASCU

High negative correlations

PRB	- 0.69	ARA
THX	- 0.57	IFOS
ARA	- 0.4	OMG
DBM	- 0.39	ARA
ASCU	- 0.27	ARA
IFOS	- 0.27	OMG

Risk-Adjusted Indicators

There is a big difference between Neo Stock performing well and Neo Performance 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 Neo Performance'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
OMG	3.08	0.44	0.08	1.58	4.08	(3.30)	6.45	(6.92)	17.46
IFOS	1.86	0.22	0.09	0.37	1.88	(2.23)	5.26	(3.34)	14.20
ARA	6.17	0.01	0.04	0.10	6.64	(7.96)	15.33	(13.93)	52.60
PRB	1.70	0.48	0.14	(3.28)	1.68	(2.53)	3.15	(2.41)	41.57
ASCU	2.91	0.69	0.21	0.45	2.73	(3.34)	6.12	(5.87)	21.65
ATX	2.47	0.31	0.11	0.29	2.63	(2.66)	5.44	(5.56)	21.80
UCU	7.13	0.32	0.06	0.23	7.46	(8.67)	18.00	(11.78)	59.55
AMRQ	3.29	0.32	0.10	0.32	3.15	(4.50)	7.87	(5.85)	27.09
THX	2.75	0.01	0.00	0.11	3.57	(2.96)	4.58	(6.09)	13.81
DBM	0.91	0.16	0.11	0.33	0.82	(1.06)	2.47	(1.58)	6.10

Be your own money manager

Our tools can tell you how much better you can do entering a position in Neo Performance without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Neo Performance Corporate Management

Elected by the shareholders, the Neo Performance's board of directors comprises two types of representatives: Neo Performance inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Neo. The board's role is to monitor Neo Performance's management team and ensure that shareholders' interests are well served. Neo Performance's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Neo Performance's outside directors are responsible for providing unbiased perspectives on the board's policies.

Ali Mahdavi	Capital Executive	Profile
Karen Murray	Senior Counsel	Profile
Mohamad Mahmoud	Executive Metals	Profile
BASc MASc	CEO Pres	Profile

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