Neonode Correlations

NEON Stock

USD 1.82 0.08 4.60%

The current 90-days correlation between Neonode and Cps Technologies is 0.36 (i.e., Weak 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 weak diversification

The correlation between Neonode and DJI is 0.48 (i.e., Very weak 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

0.94	000938	Unisplendour Corp	Pair Corr
0.61	603936	Bomin Electronics	Pair Corr
0.83	300333	Sinosun Tech	Pair Corr
0.76	ARW	Arrow Electronics	Pair Corr
0.89	300296	Leyard Optoelectronic	Pair Corr
0.97	LPL	LG Display	Pair Corr
0.65	VSH	Vishay Intertechnology	Pair Corr
0.9	301379	Techshine Electronics	Pair Corr
0.88	ZBRA	Zebra Technologies	Pair Corr
0.79	300184	Wuhan PS Information	Pair Corr
0.89	IMTE	Integrated Media Tec	Pair Corr
0.86	KULR	KULR Technology Group	Pair Corr
0.92	LINK	Interlink Electronics	Pair Corr
0.74	300852	Sihui Fuji Electronics	Pair Corr
0.73	SNT	Sabien Technology	Pair Corr
0.66	688538	Everdisplay Optronics	Pair Corr
0.86	300657	XiaMen HongXin Electron	Pair Corr

Moving against Neonode Stock

0.74	BHE	Benchmark Electronics	Pair Corr
0.31	301123	YiDong Electronics	Pair Corr
0.79	000829	Telling Telecommunicatio	Pair Corr
0.69	300076	Ningbo GQY Video	Pair Corr
0.54	TTG	TT Electronics Plc	Pair Corr
0.52	601231	Universal Scientific	Pair Corr

Related Correlations Analysis

	SLNH	ODYS	CPSH	AIRG	AWRE	MOB	DSWL	SVRE	PHUN	TACT
SLNH		0.19	0.68	0.29	0.61	0.45	-0.26	0.66	0.72	0.47	SLNH
ODYS	0.19		0.34	0.25	0.55	0.78	0.65	0.58	0.71	0.81	ODYS
CPSH	0.68	0.34		0.23	0.58	0.66	-0.1	0.65	0.78	0.63	CPSH
AIRG	0.29	0.25	0.23		0.1	0.31	0.27	0.33	0.29	0.39	AIRG
AWRE	0.61	0.55	0.58	0.1		0.66	0.14	0.79	0.83	0.7	AWRE
MOB	0.45	0.78	0.66	0.31	0.66		0.33	0.76	0.86	0.85	MOB
DSWL	-0.26	0.65	-0.1	0.27	0.14	0.33		0.24	0.22	0.49	DSWL
SVRE	0.66	0.58	0.65	0.33	0.79	0.76	0.24		0.84	0.85	SVRE
PHUN	0.72	0.71	0.78	0.29	0.83	0.86	0.22	0.84		0.89	PHUN
TACT	0.47	0.81	0.63	0.39	0.7	0.85	0.49	0.85	0.89		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

TACT	+ 0.89	PHUN
PHUN	+ 0.86	MOB
TACT	+ 0.85	MOB
TACT	+ 0.85	SVRE
PHUN	+ 0.84	SVRE
PHUN	+ 0.83	AWRE

High negative correlations

DSWL	- 0.26	SLNH
DSWL	- 0.1	CPSH

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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
SLNH	9.56	(0.13)	(0.01)	20.51	(14.14)	78.89
ODYS	2.91	(0.38)	(0.55)	6.62	(7.01)	21.60
CPSH	4.05	(0.09)	(0.04)	9.20	(8.43)	24.65
AIRG	2.20	0.00	0.05	6.33	(3.73)	26.60
AWRE	2.55	(0.38)	(0.14)	5.41	(6.75)	19.99
MOB	6.36	(0.47)	(0.04)	15.05	(11.92)	34.44
DSWL	2.16	(0.14)	0.61	5.17	(5.37)	17.72
SVRE	4.62	(1.59)	(0.89)	11.63	(8.70)	64.89
PHUN	2.80	(0.67)	(0.24)	5.24	(6.09)	16.82
TACT	1.98	(0.51)	(0.91)	3.70	(3.56)	17.35

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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