Neonode Correlations

NEON Stock

USD 1.93 0.01 0.52%

The current 90-days correlation between Neonode and Cps Technologies is 0.05 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Neonode moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Neonode moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Neonode Correlation With Market

Very good diversification

The correlation between Neonode and DJI is -0.49 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Neonode and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Neonode Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Neonode. 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.

To learn how to invest in Neonode Stock, please use our How to Invest in Neonode guide.

Moving together with Neonode Stock

0.85	CDW	CDW Corp Earnings Call Next Week	Pair Corr
0.7	IMTE	Integrated Media Tec	Pair Corr
0.89	LINK	Interlink Electronics	Pair Corr
0.88	MITQ	Moving iMage Technologies	Pair Corr
0.75	AMO	Ambertech	Pair Corr

Moving against Neonode Stock

0.52	301123	YiDong Electronics	Pair Corr
0.48	688375	Guobo Electronics	Pair Corr
0.45	FEIM	Frequency Electronics	Pair Corr
0.45	601231	Universal Scientific	Pair Corr
0.44	301321	Highbroad Advanced	Pair Corr
0.41	BHE	Benchmark Electronics Earnings Call Next Week	Pair Corr
0.33	APH	Amphenol Earnings Call Tomorrow	Pair Corr
0.33	300939	Shenzhen AV Display	Pair Corr
0.31	688630	Circuit Fabology Mic	Pair Corr
0.73	TLK	Telkom Indonesia Tbk	Pair Corr
0.67	300076	Ningbo GQY Video	Pair Corr
0.6	688020	Guangzhou Fangbang	Pair Corr
0.59	000829	Telling Telecommunicatio	Pair Corr
0.56	002036	LianChuang Electronic	Pair Corr
0.52	600707	Caihong Display Devices	Pair Corr
0.49	002268	Westone Information	Pair Corr
0.43	603920	Olympic Circuit Tech	Pair Corr
0.34	301282	Camelot Electronics	Pair Corr

Related Correlations Analysis

	SLNH	ODYS	CPSH	AIRG	AWRE	MOB	DSWL	SVRE	PHUN	TACT
SLNH		-0.25	0.03	0.12	0.75	0.21	-0.35	0.77	0.89	0.67	SLNH
ODYS	-0.25		0.86	0.22	-0.46	0.57	-0.16	-0.46	-0.23	-0.47	ODYS
CPSH	0.03	0.86		0.34	-0.27	0.69	-0.38	-0.17	0.01	-0.25	CPSH
AIRG	0.12	0.22	0.34		-0.18	0.13	-0.08	-0.04	0.0	-0.07	AIRG
AWRE	0.75	-0.46	-0.27	-0.18		-0.01	-0.11	0.82	0.83	0.76	AWRE
MOB	0.21	0.57	0.69	0.13	-0.01		-0.37	0.07	0.33	0.0	MOB
DSWL	-0.35	-0.16	-0.38	-0.08	-0.11	-0.37		-0.09	-0.22	0.07	DSWL
SVRE	0.77	-0.46	-0.17	-0.04	0.82	0.07	-0.09		0.78	0.87	SVRE
PHUN	0.89	-0.23	0.01	0.0	0.83	0.33	-0.22	0.78		0.77	PHUN
TACT	0.67	-0.47	-0.25	-0.07	0.76	0.0	0.07	0.87	0.77		TACT
	SLNH	ODYS	CPSH	AIRG	AWRE	MOB	DSWL	SVRE	PHUN	TACT

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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

PHUN	+ 0.89	SLNH
TACT	+ 0.87	SVRE
CPSH	+ 0.86	ODYS
PHUN	+ 0.83	AWRE
SVRE	+ 0.82	AWRE
PHUN	+ 0.78	SVRE

High negative correlations

TACT	- 0.47	ODYS
SVRE	- 0.46	ODYS
AWRE	- 0.46	ODYS
DSWL	- 0.38	CPSH
DSWL	- 0.37	MOB
DSWL	- 0.35	SLNH

Risk-Adjusted Indicators

There is a big difference between Neonode Stock performing well and Neonode 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 Neonode'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
SLNH	7.27	(1.34)	0.00	(0.74)	0.00	0.00	16.25	(13.18)	41.38
ODYS	3.69	0.56	0.14	0.90	3.70	(4.52)	9.49	(6.42)	25.92
CPSH	3.97	0.39	0.10	0.29	4.14	(4.90)	10.26	(7.34)	23.55
AIRG	2.33	0.27	0.04	(0.28)	3.79	(2.79)	6.88	(3.78)	26.60
AWRE	2.19	(0.42)	0.00	(0.25)	0.00	0.00	4.10	(5.95)	14.94
MOB	6.16	0.11	0.04	0.10	7.16	(6.56)	11.31	(11.92)	34.44
DSWL	2.06	0.09	(0.01)	(0.08)	3.00	(2.41)	5.34	(5.37)	23.97
SVRE	5.43	(1.23)	0.00	(1.95)	0.00	0.00	13.49	(11.38)	64.89
PHUN	2.60	(0.70)	0.00	(0.27)	0.00	0.00	5.24	(6.09)	13.16
TACT	2.04	(0.29)	0.00	(0.19)	0.00	0.00	6.05	(3.25)	14.05

Neonode Corporate Management

Urban Forssell	Strategic Advisor	Profile
Helena Borjesson	Vice Culture	Profile
Marec Gasiun	Executive Marketing	Profile
Johan Swartz	Vice Industrial	Profile

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