Neogen Correlations

NEOG Stock

USD 10.69 0.21 1.93%

The current 90-days correlation between Neogen and Opko Health is 0.03 (i.e., Significant 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

Poor diversification

The correlation between Neogen and DJI is 0.79 (i.e., Poor 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 employment.

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

Moving together with Neogen Stock

0.88	HYB	HOYA	Pair Corr
0.83	DXCM	DexCom Inc	Pair Corr
0.91	VREX	Varex Imaging Corp	Pair Corr
0.75	ECOR	Electrocore LLC	Pair Corr
0.93	EDAP	EDAP TMS SA	Pair Corr
0.72	61R	GROUPE EUROMEDIS	Pair Corr
0.86	EKSO	Ekso Bionics Holdings	Pair Corr

Moving against Neogen Stock

0.86	IPD	Impedimed	Pair Corr
0.85	IL3	Integra LifeSciences	Pair Corr
0.82	SI	Shoulder Innovations Earnings Call This Week	Pair Corr
0.78	56S1	Sartorius Stedim Biotech	Pair Corr
0.74	56S0	RENAUUNSPARD 15 EO	Pair Corr
0.73	DYNT	Dynatronics	Pair Corr
0.63	49Z	Cellink AB	Pair Corr
0.57	EW	Edwards Lifesciences Corp Sell-off Trend	Pair Corr
0.55	VNRX	Volitionrx	Pair Corr
0.41	VERO	Venus Concept	Pair Corr
0.86	VVOS	Vivos Therapeutics	Pair Corr
0.86	ELAB	Elevai Labs Common	Pair Corr
0.82	OTC	Ocumetics Technology Corp	Pair Corr
0.63	GXI	Gerresheimer AG Earnings Call This Week	Pair Corr
0.56	VTAK	Catheter Precision	Pair Corr
0.52	ELMD	Electromed	Pair Corr
0.52	OC5	Cochlear Limited	Pair Corr
0.48	BA3	Brooks Automation	Pair Corr
0.92	EUDA	EUDA Health Holdings	Pair Corr
0.92	2DR	Inspire Medical Systems	Pair Corr
0.89	XEJ	Accuray Incorporated	Pair Corr
0.84	FEMY	Femasys	Pair Corr
0.82	ENOV	Enovis Corp	Pair Corr
0.81	MM3	Merit Medical Systems	Pair Corr

Related Correlations Analysis

	OPK	AZTA	NVCR	TLRY	KMTS	BLFS	ZBIO	UPB	CNMD	NTLA
OPK		0.75	0.4	0.4	-0.13	0.78	0.29	0.74	-0.31	-0.53	OPK
AZTA	0.75		0.42	0.34	-0.26	0.65	-0.09	0.83	-0.43	-0.15	AZTA
NVCR	0.4	0.42		0.4	-0.24	0.38	-0.05	0.21	0.08	0.0	NVCR
TLRY	0.4	0.34	0.4		0.21	0.48	0.31	0.41	-0.33	-0.44	TLRY
KMTS	-0.13	-0.26	-0.24	0.21		0.06	0.4	-0.12	-0.08	-0.4	KMTS
BLFS	0.78	0.65	0.38	0.48	0.06		0.4	0.6	-0.09	-0.56	BLFS
ZBIO	0.29	-0.09	-0.05	0.31	0.4	0.4		0.08	-0.11	-0.68	ZBIO
UPB	0.74	0.83	0.21	0.41	-0.12	0.6	0.08		-0.63	-0.37	UPB
CNMD	-0.31	-0.43	0.08	-0.33	-0.08	-0.09	-0.11	-0.63		0.23	CNMD
NTLA	-0.53	-0.15	0.0	-0.44	-0.4	-0.56	-0.68	-0.37	0.23		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	+ 0.83	AZTA
BLFS	+ 0.78	OPK
AZTA	+ 0.75	OPK
UPB	+ 0.74	OPK
BLFS	+ 0.65	AZTA
UPB	+ 0.6	BLFS

High negative correlations

NTLA	- 0.68	ZBIO
CNMD	- 0.63	UPB
NTLA	- 0.56	BLFS
NTLA	- 0.53	OPK
NTLA	- 0.44	TLRY
CNMD	- 0.43	AZTA

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	1.51	(0.20)	0.00	(0.14)	0.00	0.00	3.03	(3.08)	11.14
AZTA	2.15	(0.54)	0.00	(0.35)	0.00	0.00	3.44	(5.03)	29.88
NVCR	3.51	0.14	0.04	0.10	4.25	(4.09)	6.92	(8.27)	35.96
TLRY	4.54	(0.24)	0.00	3.95	0.00	0.00	7.64	(8.43)	54.17
KMTS	2.54	(0.18)	0.00	0.26	0.00	0.00	4.70	(6.80)	20.54
BLFS	1.96	(0.40)	0.00	(0.30)	0.00	0.00	3.19	(4.27)	18.09
ZBIO	5.35	(0.07)	0.00	0.06	0.00	0.00	12.20	(11.66)	68.95
UPB	4.69	(1.51)	0.00	(2.53)	0.00	0.00	7.79	(12.87)	55.72
CNMD	1.83	0.02	0.00	0.16	3.00	(1.71)	3.36	(3.89)	11.91
NTLA	3.97	0.77	0.17	0.35	4.31	(4.49)	10.73	(6.81)	25.18

Neogen Corporate Management

Dr MBA	Chief Officer	Profile
Jeremy Yarwood	Chief Officer	Profile
Tamara Ranalli	Senior Safety	Profile
David Naemura	Executive Officer	Profile
Bill Waelke	Head Relations	Profile

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