Neogen Correlations

NEOG Stock

USD 10.74 0.13 1.23%

The current 90-days correlation between Neogen and Opko Health is 0.1 (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

Very poor diversification

The correlation between Neogen and DJI is 0.84 (i.e., Very 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

0.77	QIPT	Quipt Home Medical	Pair Corr
0.78	VMD	Viemed Healthcare	Pair Corr
0.73	4DX	4DMEDICAL	Pair Corr
0.87	TLT	Theralase Technologies	Pair Corr
0.77	CREO	Creo Medical Group	Pair Corr
0.93	IMR	Imricor Medical Systems	Pair Corr
0.69	FPH	Fisher Paykel Healthcare Earnings Call This Week	Pair Corr
0.91	EYE	Nova EYE Medical	Pair Corr
0.76	AFW	Align Technology	Pair Corr
0.71	AFME	Affluent Medical SAS	Pair Corr

Moving against Neogen Stock

0.78	NTI	Neurotech International	Pair Corr
0.72	IHC	Inspiration Healthcare	Pair Corr
0.71	AHC	Austco Healthcare	Pair Corr
0.66	OTC	Ocumetics Technology Corp	Pair Corr
0.63	RHT	Resonance Health	Pair Corr
0.49	2DR	Inspire Medical Systems Earnings Call Tomorrow	Pair Corr
0.46	IVF	INVO Fertility Symbol Change	Pair Corr
0.43	HAE	Haemonetics	Pair Corr
0.37	XTNT	Xtant Medical Holdings	Pair Corr
0.34	EMV	Emvision Medical Devices	Pair Corr
0.73	NSPR	InspireMD	Pair Corr
0.64	MLSS	Milestone Scientific	Pair Corr
0.59	MMSI	Merit Medical Systems	Pair Corr
0.58	TNONW	Tenon Medical Warrant	Pair Corr
0.56	NGMD	NuGen Medical Devices	Pair Corr
0.48	MBOT	Microbot Medical Buyout Trend	Pair Corr
0.44	NVNO	enVVeno Medical Corp Downward Rally	Pair Corr

Related Correlations Analysis

	OPK	AZTA	NVCR	TLRY	KMTS	BLFS	ZBIO	UPB	CNMD	NTLA
OPK		0.23	0.36	0.19	0.08	0.68	0.25	-0.07	0.4	-0.14	OPK
AZTA	0.23		0.75	-0.37	-0.39	0.0	-0.39	0.79	-0.23	0.42	AZTA
NVCR	0.36	0.75		-0.05	-0.13	0.17	-0.24	0.6	-0.12	0.14	NVCR
TLRY	0.19	-0.37	-0.05		0.45	0.5	0.28	-0.39	0.31	-0.24	TLRY
KMTS	0.08	-0.39	-0.13	0.45		0.33	0.48	-0.35	0.1	-0.34	KMTS
BLFS	0.68	0.0	0.17	0.5	0.33		0.4	-0.32	0.66	-0.28	BLFS
ZBIO	0.25	-0.39	-0.24	0.28	0.48	0.4		-0.36	0.04	-0.72	ZBIO
UPB	-0.07	0.79	0.6	-0.39	-0.35	-0.32	-0.36		-0.51	0.49	UPB
CNMD	0.4	-0.23	-0.12	0.31	0.1	0.66	0.04	-0.51		-0.19	CNMD
NTLA	-0.14	0.42	0.14	-0.24	-0.34	-0.28	-0.72	0.49	-0.19		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	+ 0.79	AZTA
NVCR	+ 0.75	AZTA
BLFS	+ 0.68	OPK
CNMD	+ 0.66	BLFS
UPB	+ 0.6	NVCR
BLFS	+ 0.5	TLRY

High negative correlations

NTLA	- 0.72	ZBIO
CNMD	- 0.51	UPB
UPB	- 0.39	TLRY
ZBIO	- 0.39	AZTA
KMTS	- 0.39	AZTA
TLRY	- 0.37	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	1.49	(0.26)	0.00	(0.23)	0.00	0.00	3.03	(2.99)	9.92
AZTA	2.23	(0.07)	(0.01)	0.04	4.39	(2.37)	3.81	(3.47)	39.11
NVCR	2.65	(0.41)	0.00	(0.10)	0.00	0.00	4.95	(5.21)	20.87
TLRY	5.08	(0.63)	0.00	(0.44)	0.00	0.00	7.64	(8.43)	54.17
KMTS	2.52	(0.03)	(0.01)	0.06	3.85	(2.38)	4.70	(7.02)	20.54
BLFS	1.80	(0.38)	0.00	(0.18)	0.00	0.00	3.19	(4.11)	17.79
ZBIO	5.51	0.21	0.00	(0.06)	11.64	(5.01)	9.05	(11.66)	68.95
UPB	3.23	0.14	0.01	1.63	4.19	(3.38)	7.84	(5.57)	24.37
CNMD	1.85	(0.19)	0.00	(0.15)	0.00	0.00	3.36	(3.57)	14.72
NTLA	4.23	(0.05)	0.02	0.07	6.02	(4.44)	10.73	(8.64)	33.96

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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