Neonode Stock Market Value
| NEON Stock | USD 8.34 0.18 2.21% |
| Symbol | Neonode |
Neonode Price To Book Ratio
Is Electronic Equipment, Instruments & Components space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Neonode. If investors know Neonode will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Neonode listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (0.72) | Revenue Per Share 0.245 | Quarterly Revenue Growth (0) | Return On Assets (0.33) | Return On Equity (0.54) |
The market value of Neonode is measured differently than its book value, which is the value of Neonode that is recorded on the company's balance sheet. Investors also form their own opinion of Neonode's value that differs from its market value or its book value, called intrinsic value, which is Neonode's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Neonode's market value can be influenced by many factors that don't directly affect Neonode's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Neonode's value and its price as these two are different measures arrived at by different means. Investors typically determine if Neonode is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Neonode's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Neonode 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Neonode's stock what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Neonode.
| 10/26/2024 |
| 11/25/2024 |
If you would invest 0.00 in Neonode on October 26, 2024 and sell it all today you would earn a total of 0.00 from holding Neonode or generate 0.0% return on investment in Neonode over 30 days. Neonode is related to or competes with LightPath Technologies, Methode Electronics, OSI Systems, Plexus Corp, Kopin, Universal Display, and Daktronics. Neonode Inc., together with its subsidiaries, develops optical sensing solutions for contactless touch, touch, and gestu... More
Neonode Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Neonode's stock current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Neonode upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 7.11 | |||
| Information Ratio | 0.1141 | |||
| Maximum Drawdown | 52.74 | |||
| Value At Risk | (11.32) | |||
| Potential Upside | 17.69 |
Neonode Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Neonode's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Neonode's standard deviation. In reality, there are many statistical measures that can use Neonode historical prices to predict the future Neonode's volatility.| Risk Adjusted Performance | 0.1078 | |||
| Jensen Alpha | 1.04 | |||
| Total Risk Alpha | (0.27) | |||
| Sortino Ratio | 0.1453 | |||
| Treynor Ratio | 1.18 |
Neonode Backtested Returns
Neonode appears to be moderately volatile, given 3 months investment horizon. Neonode has Sharpe Ratio of 0.11, which conveys that the firm had a 0.11% return per unit of risk over the last 3 months. By analyzing Neonode's technical indicators, you can evaluate if the expected return of 0.93% is justified by implied risk. Please exercise Neonode's Risk Adjusted Performance of 0.1078, downside deviation of 7.11, and Mean Deviation of 6.43 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Neonode holds a performance score of 8. The company secures a Beta (Market Risk) of 0.98, which conveys possible diversification benefits within a given portfolio. Neonode returns are very sensitive to returns on the market. As the market goes up or down, Neonode is expected to follow. Please check Neonode's expected short fall, and the relationship between the maximum drawdown and rate of daily change , to make a quick decision on whether Neonode's current price movements will revert.
Auto-correlation | -0.48 |
Modest reverse predictability
Neonode has modest reverse predictability. Overlapping area represents the amount of predictability between Neonode time series from 26th of October 2024 to 10th of November 2024 and 10th of November 2024 to 25th of November 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Neonode price movement. The serial correlation of -0.48 indicates that about 48.0% of current Neonode price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.48 | |
| Spearman Rank Test | -0.6 | |
| Residual Average | 0.0 | |
| Price Variance | 0.58 |
Neonode lagged returns against current returns
Autocorrelation, which is Neonode stock's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Neonode's stock expected returns. We can calculate the autocorrelation of Neonode returns to help us make a trade decision. For example, suppose you find that Neonode has exhibited high autocorrelation historically, and you observe that the stock is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Neonode regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Neonode stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Neonode stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Neonode stock over time.
Current vs Lagged Prices |
| Timeline |
Neonode Lagged Returns
When evaluating Neonode's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Neonode stock have on its future price. Neonode autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Neonode autocorrelation shows the relationship between Neonode stock current value and its past values and can show if there is a momentum factor associated with investing in Neonode.
Regressed Prices |
| Timeline |
Pair Trading with Neonode
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Neonode position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Neonode will appreciate offsetting losses from the drop in the long position's value.Moving against Neonode Stock
| 0.53 | ASAN | Asana Inc Sell-off Trend | PairCorr |
| 0.47 | JPM | JPMorgan Chase Fiscal Year End 10th of January 2025 | PairCorr |
| 0.4 | EHGO | Eshallgo Class A | PairCorr |
| 0.33 | BAC | Bank of America Aggressive Push | PairCorr |
The ability to find closely correlated positions to Neonode could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Neonode 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 Neonode - 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 Neonode to buy it.
The correlation of Neonode 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 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. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Neonode can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Neonode Correlation, Neonode Volatility and Neonode Alpha and Beta module to complement your research on Neonode. To learn how to invest in Neonode Stock, please use our How to Invest in Neonode guide.You can also try the Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
Neonode technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.