Neogen Correlations

NEOG Stock

USD 4.86 0.06 1.22%

The current 90-days correlation between Neogen and Sotera Health Co is 0.18 (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

Modest diversification

The correlation between Neogen and DJI is 0.22 (i.e., Modest 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 persons.

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

Moving together with Neogen Stock

0.67	MD	Mednax Inc	Pair Corr
0.63	EHAB	Enhabit	Pair Corr

Moving against Neogen Stock

0.68	GH	Guardant Health	Pair Corr
0.5	ECOR	Electrocore LLC	Pair Corr
0.49	VNRX	Volitionrx	Pair Corr
0.33	DOCS	Doximity	Pair Corr
0.33	DRIO	DarioHealth Corp	Pair Corr
0.31	CI	Cigna Corp	Pair Corr
0.57	CVS	CVS Health Corp	Pair Corr
0.32	MDAI	Spectral AI	Pair Corr
0.46	MODV	ModivCare	Pair Corr
0.32	NXGLW	NexGel Warrant	Pair Corr

Related Correlations Analysis

	SHC	QGEN	ACRS	MMSI	EXPO	ICUI	OFIX	CNMD
SHC		-0.24	-0.02	0.63	0.11	0.35	-0.05	0.9	SHC
QGEN	-0.24		0.85	-0.35	-0.67	-0.55	-0.74	-0.19	QGEN
ACRS	-0.02	0.85		-0.24	-0.61	-0.5	-0.64	0.0	ACRS
MMSI	0.63	-0.35	-0.24		0.48	0.59	0.2	0.71	MMSI
EXPO	0.11	-0.67	-0.61	0.48		0.69	0.65	0.24	EXPO
ICUI	0.35	-0.55	-0.5	0.59	0.69		0.63	0.38	ICUI
OFIX	-0.05	-0.74	-0.64	0.2	0.65	0.63		-0.13	OFIX
CNMD	0.9	-0.19	0.0	0.71	0.24	0.38	-0.13		CNMD
	SHC	QGEN	ACRS	MMSI	EXPO	ICUI	OFIX	CNMD

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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

CNMD	+ 0.9	SHC
ACRS	+ 0.85	QGEN
CNMD	+ 0.71	MMSI
ICUI	+ 0.69	EXPO
OFIX	+ 0.65	EXPO
MMSI	+ 0.63	SHC

High negative correlations

OFIX	- 0.74	QGEN
EXPO	- 0.67	QGEN
OFIX	- 0.64	ACRS
EXPO	- 0.61	ACRS
ICUI	- 0.55	QGEN
ICUI	- 0.5	ACRS

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
SHC	1.59	(0.08)	(0.03)	0.06	1.67	(1.89)	3.96	(2.98)	8.96
QGEN	1.04	0.09	0.06	0.22	1.04	(1.20)	2.64	(1.89)	6.90
ACRS	3.23	0.46	0.11	0.85	3.25	(3.99)	8.18	(4.44)	19.29
MMSI	1.17	(0.27)	0.00	(0.21)	0.00	0.00	2.53	(2.15)	14.94
EXPO	1.26	(0.28)	0.00	(0.18)	0.00	0.00	2.48	(2.42)	6.69
ICUI	1.68	(0.32)	0.00	(0.19)	0.00	0.00	3.69	(3.98)	11.56
OFIX	1.78	(0.53)	0.00	(0.23)	0.00	0.00	3.87	(3.75)	14.80
CNMD	1.99	(0.26)	0.00	(0.04)	0.00	0.00	3.82	(4.07)	20.87

Neogen Corporate Management

John Moylan	Corporate VP	Profile
Bill Waelke	Head Relations	Profile
Dr MBA	Chief Officer	Profile
Julie Mann	VP Officer	Profile
Kevin Burke	Chief Officer	Profile
Amy Rocklin	Chief Secretary	Profile

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