Neogen Correlations

NEOG Stock

USD 9.30 0.25 2.76%

The current 90-days correlation between Neogen and Qiagen NV is 0.43 (i.e., Very weak 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.

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

0.79	OM	Outset Medical	Pair Corr
0.78	VREX	Varex Imaging Corp	Pair Corr
0.73	VVOS	Vivos Therapeutics	Pair Corr
0.81	EKSO	Ekso Bionics Holdings	Pair Corr
0.82	ELAB	Elevai Labs, Common	Pair Corr
0.9	EMBC	Embecta Corp	Pair Corr
0.69	ENOV	Enovis Corp	Pair Corr
0.88	WORX	Scworx Corp	Pair Corr
0.73	FIGS	Figs Inc	Pair Corr
0.77	FLGT	Fulgent Genetics	Pair Corr
0.78	AMS	American Shared Hospital Earnings Call This Week	Pair Corr
0.74	XAIR	Beyond Air	Pair Corr
0.93	AWH	Aspira Womens Health	Pair Corr

Moving against Neogen Stock

0.78	FEMY	Femasys	Pair Corr
0.76	DOCS	Doximity	Pair Corr
0.7	LH	Laboratory	Pair Corr
0.62	EDAP	EDAP TMS SA	Pair Corr
0.57	CI	Cigna Corp	Pair Corr
0.56	GH	Guardant Health	Pair Corr
0.53	EHAB	Enhabit	Pair Corr
0.46	MD	Mednax Inc	Pair Corr
0.87	ABT	Abbott Laboratories	Pair Corr
0.86	DGX	Quest Diagnostics	Pair Corr
0.84	CVS	CVS Health Corp	Pair Corr
0.79	AGL	agilon health	Pair Corr
0.73	CHE	Chemed Corp	Pair Corr
0.7	ALC	Alcon AG	Pair Corr
0.7	BSX	Boston Scientific Corp	Pair Corr
0.69	COR	Cencora	Pair Corr
0.68	BAX	Baxter International	Pair Corr
0.66	CAH	Cardinal Health	Pair Corr

Related Correlations Analysis

	QGEN	OLK	ACRS	SYNH	IQV	MEDP	ICLR	SHC	RDNT	MYGN
QGEN		0.0	0.69	0.0	0.69	0.5	0.77	0.48	0.72	0.53	QGEN
OLK	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	OLK
ACRS	0.69	0.0		0.0	0.6	0.53	0.75	0.49	0.91	0.73	ACRS
SYNH	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	SYNH
IQV	0.69	0.0	0.6	0.0		0.86	0.61	0.77	0.64	0.6	IQV
MEDP	0.5	0.0	0.53	0.0	0.86		0.53	0.73	0.59	0.61	MEDP
ICLR	0.77	0.0	0.75	0.0	0.61	0.53		0.52	0.84	0.72	ICLR
SHC	0.48	0.0	0.49	0.0	0.77	0.73	0.52		0.64	0.68	SHC
RDNT	0.72	0.0	0.91	0.0	0.64	0.59	0.84	0.64		0.83	RDNT
MYGN	0.53	0.0	0.73	0.0	0.6	0.61	0.72	0.68	0.83		MYGN
	QGEN	OLK	ACRS	SYNH	IQV	MEDP	ICLR	SHC	RDNT	MYGN

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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

RDNT	+ 0.91	ACRS
MEDP	+ 0.86	IQV
RDNT	+ 0.84	ICLR
MYGN	+ 0.83	RDNT
ICLR	+ 0.77	QGEN
SHC	+ 0.77	IQV

High negative correlations

MYGN	- 0.0	SYNH
RDNT	- 0.0	SYNH
SHC	- 0.0	SYNH
ICLR	- 0.0	SYNH
MEDP	- 0.0	SYNH
IQV	- 0.0	SYNH

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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
QGEN	1.20	(0.11)	(0.50)	2.95	(3.00)	7.05
OLK	0.00	0.00	0.00	0.00	0.00	0.00
ACRS	2.82	(1.28)	(2.84)	4.84	(7.95)	18.01
SYNH	0.00	0.00	0.00	0.00	0.00	0.00
IQV	1.27	(0.05)	(0.17)	2.70	(2.81)	7.16
MEDP	1.46	(0.03)	(0.16)	2.24	(3.94)	10.53
ICLR	1.45	(0.18)	(0.47)	3.28	(2.74)	11.42
SHC	1.38	(0.07)	(0.19)	2.29	(2.88)	12.51
RDNT	2.05	(0.73)	(0.95)	2.46	(5.11)	14.21
MYGN	2.63	(0.48)	(0.80)	4.14	(5.41)	26.72

Neogen Corporate Management

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

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