Neo Concept Correlations

NCI Stock

USD 0.53 0.02 3.64%

The current 90-days correlation between Neo Concept Internat and Proficient Auto Logistics, is -0.22 (i.e., Very good 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.

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

0.62

WLDN

Willdan Group

Pair Corr

Moving against Neo Stock

0.63	WHLM	Wilhelmina	Pair Corr
0.57	DLHC	DLH Holdings Corp Earnings Call Today	Pair Corr
0.46	ACU	Acme United	Pair Corr
0.6	FORR	Forrester Research	Pair Corr
0.33	EFX	Equifax	Pair Corr
0.32	III	Information Services	Pair Corr

Related Correlations Analysis

	SUM	IPXXU	TFII	VLRS	HGMCF	PAL	WAVS	VRRM
SUM		0.72	0.43	0.91	0.27	-0.79	0.53	-0.88	SUM
IPXXU	0.72		0.09	0.69	0.12	-0.8	0.62	-0.59	IPXXU
TFII	0.43	0.09		0.3	-0.35	0.14	-0.34	-0.38	TFII
VLRS	0.91	0.69	0.3		0.31	-0.83	0.58	-0.84	VLRS
HGMCF	0.27	0.12	-0.35	0.31		-0.48	0.47	-0.3	HGMCF
PAL	-0.79	-0.8	0.14	-0.83	-0.48		-0.85	0.67	PAL
WAVS	0.53	0.62	-0.34	0.58	0.47	-0.85		-0.34	WAVS
VRRM	-0.88	-0.59	-0.38	-0.84	-0.3	0.67	-0.34		VRRM
	SUM	IPXXU	TFII	VLRS	HGMCF	PAL	WAVS	VRRM

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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

VLRS	+ 0.91	SUM
IPXXU	+ 0.72	SUM
VLRS	+ 0.69	IPXXU
VRRM	+ 0.67	PAL
WAVS	+ 0.62	IPXXU
WAVS	+ 0.58	VLRS

High negative correlations

VRRM	- 0.88	SUM
WAVS	- 0.85	PAL
VRRM	- 0.84	VLRS
PAL	- 0.83	VLRS
PAL	- 0.8	IPXXU
PAL	- 0.79	SUM

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
SUM	1.62	0.20	0.13	0.24	1.63	(1.91)	4.18	(2.49)	9.88
IPXXU	0.07	0.02	0.00	13.16	0.00	0.00	0.28	0.00	1.38
TFII	1.36	(0.14)	(0.04)	0.02	1.48	(1.50)	2.92	(2.96)	12.09
VLRS	1.69	0.52	0.22	(2.13)	1.35	(1.96)	4.72	(2.63)	10.38
HGMCF	0.83	(0.01)	0.00	0.13	0.00	0.00	0.57	0.00	38.00
PAL	2.73	(1.03)	0.00	(0.56)	0.00	0.00	4.52	(5.04)	33.63
WAVS	1.06	0.07	0.00	0.45	1.50	(2.16)	3.35	(3.25)	12.07
VRRM	1.26	(0.32)	0.00	(0.31)	0.00	0.00	2.49	(2.88)	14.00

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Neo Concept Correlations

Moving together with Neo Stock

Moving against Neo Stock

Related Correlations Analysis

Correlation Matchups

Risk-Adjusted Indicators

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