Neo Concept Correlations

NCI Stock

USD 0.48 0.04 9.09%

The current 90-days correlation between Neo Concept Internat and Primo Brands is 0.07 (i.e., Significant diversification). The correlation of Neo Concept 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.

Neo Concept Correlation With Market

Average diversification

The correlation between Neo Concept International Grou and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Neo Concept International Grou and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Neo Concept International Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Neo Stock

0.81	BV	BrightView Holdings	Pair Corr
0.65	FA	First Advantage Corp	Pair Corr
0.89	DLHC	DLH Holdings Corp	Pair Corr
0.73	VCIG	VCI Global Limited	Pair Corr
0.67	VLTO	Veralto	Pair Corr
0.73	WFCF	Where Food Comes	Pair Corr
0.77	EXPO	Exponent	Pair Corr
0.82	AWX	Avalon Holdings	Pair Corr
0.78	AXR	AMREP	Pair Corr
0.62	BCO	Brinks Company	Pair Corr
0.69	BTM	Bitcoin Depot	Pair Corr
0.67	CBZ	CBIZ Inc	Pair Corr
0.82	FORR	Forrester Research	Pair Corr
0.84	CLH	Clean Harbors	Pair Corr
0.67	FOUR	Shift4 Payments	Pair Corr
0.65	CXW	CoreCivic	Pair Corr
0.85	DLX	Deluxe	Pair Corr
0.8	DNB	Dun Bradstreet Holdings	Pair Corr

Moving against Neo Stock

0.73	WM	Waste Management	Pair Corr
0.72	VSEC	VSE Corporation	Pair Corr
0.7	KC	Kingsoft Cloud Holdings	Pair Corr
0.69	LZ	LegalZoom	Pair Corr
0.69	VRSK	Verisk Analytics	Pair Corr
0.58	G	Genpact Limited	Pair Corr
0.58	ESGL	ESGL Holdings Limited	Pair Corr
0.48	DRVN	Driven Brands Holdings	Pair Corr
0.45	MG	Mistras Group	Pair Corr
0.43	EEFT	Euronet Worldwide	Pair Corr
0.72	ACU	Acme United	Pair Corr
0.6	GDS	GDS Holdings	Pair Corr
0.44	ADP	Automatic Data Processing	Pair Corr

Related Correlations Analysis

	PRMB	SBFFY	WB	COCO	BWOFY	STZ
PRMB		0.24	0.4	0.17	-0.7	-0.68	PRMB
SBFFY	0.24		0.47	-0.51	-0.2	-0.32	SBFFY
WB	0.4	0.47		0.26	-0.59	-0.53	WB
COCO	0.17	-0.51	0.26		-0.36	-0.24	COCO
BWOFY	-0.7	-0.2	-0.59	-0.36		0.77	BWOFY
STZ	-0.68	-0.32	-0.53	-0.24	0.77		STZ
	PRMB	SBFFY	WB	COCO	BWOFY	STZ

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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

STZ	+ 0.77	BWOFY
WB	+ 0.47	SBFFY
WB	+ 0.4	PRMB
COCO	+ 0.26	WB
SBFFY	+ 0.24	PRMB
COCO	+ 0.17	PRMB

High negative correlations

BWOFY	- 0.7	PRMB
STZ	- 0.68	PRMB
BWOFY	- 0.59	WB
STZ	- 0.53	WB
COCO	- 0.51	SBFFY
BWOFY	- 0.36	COCO

Risk-Adjusted Indicators

There is a big difference between Neo Stock performing well and Neo Concept 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 Neo Concept'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
PRMB	1.24	0.21	0.13	0.39	1.47	(1.33)	3.30	(2.57)	9.97
SBFFY	0.92	0.48	0.00	(72.66)	0.00	0.00	0.40	0.00	27.09
WB	2.12	0.06	0.03	0.18	2.68	(2.12)	4.82	(4.94)	11.06
COCO	1.91	(0.20)	0.00	(0.25)	0.00	0.00	4.21	(5.13)	19.52
BWOFY	0.29	(0.08)	0.00	0.21	0.00	0.00	0.00	0.00	9.73
STZ	1.51	(0.26)	0.00	(0.32)	0.00	0.00	2.74	(2.58)	17.80

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