Neogen Correlations

NEOG Stock

USD 5.24 0.26 5.22%

The current 90-days correlation between Neogen and Patterson UTI Energy 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

Average diversification

The correlation between Neogen and DJI is 0.17 (i.e., Average 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 against Neogen Stock

0.54	MASS	908 Devices	Pair Corr
0.48	MBOT	Microbot Medical	Pair Corr
0.39	CVS	CVS Health Corp	Pair Corr
0.38	FIGS	Figs Inc	Pair Corr
0.31	CAH	Cardinal Health Sell-off Trend	Pair Corr
0.42	STRM	Streamline Health	Pair Corr

Related Correlations Analysis

	PTEN	OBGRF	DTI	TELO	IRIG	ADI
PTEN		0.28	0.44	-0.35	0.0	0.47	PTEN
OBGRF	0.28		0.38	-0.44	0.0	0.59	OBGRF
DTI	0.44	0.38		-0.74	0.0	0.9	DTI
TELO	-0.35	-0.44	-0.74		0.0	-0.81	TELO
IRIG	0.0	0.0	0.0	0.0		0.0	IRIG
ADI	0.47	0.59	0.9	-0.81	0.0		ADI
	PTEN	OBGRF	DTI	TELO	IRIG	ADI

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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

ADI	+ 0.9	DTI
ADI	+ 0.59	OBGRF
ADI	+ 0.47	PTEN
DTI	+ 0.44	PTEN
DTI	+ 0.38	OBGRF
OBGRF	+ 0.28	PTEN

High negative correlations

ADI	- 0.81	TELO
TELO	- 0.74	DTI
TELO	- 0.44	OBGRF
TELO	- 0.35	PTEN
ADI	- 0.0	IRIG
IRIG	- 0.0	TELO

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
PTEN	2.96	(0.27)	(0.02)	0.02	4.83	(3.10)	4.92	(5.12)	34.78
OBGRF	1.18	0.55	0.00	(2.91)	0.00	0.00	3.81	0.00	11.69
DTI	4.01	0.42	0.09	0.41	4.73	(4.32)	9.85	(7.61)	21.75
TELO	3.90	(1.33)	0.00	(1.27)	0.00	0.00	6.97	(9.84)	30.32
IRIG	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ADI	1.93	0.24	0.13	0.28	2.33	(2.27)	4.10	(3.06)	27.68

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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