Neonode Correlations

NEON Stock

USD 8.20 0.35 4.46%

The current 90-days correlation between Neonode and LightPath Technologies is -0.08 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Neonode moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Neonode moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Neonode Correlation With Market

Average diversification

The correlation between Neonode and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Neonode 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 Neonode. 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.

To learn how to invest in Neonode Stock, please use our How to Invest in Neonode guide.

Moving against Neonode Stock

0.47	EHGO	Eshallgo Class A	Pair Corr
0.41	IDCC	InterDigital	Pair Corr
0.38	IONQ	IONQ Inc Upward Rally	Pair Corr
0.37	UKOMW	Ucommune International	Pair Corr
0.35	EBON	Ebang International Upward Rally	Pair Corr
0.34	KE	Kimball Electronics	Pair Corr
0.48	RBBN	Ribbon Communications	Pair Corr
0.42	OUST	Ouster Inc	Pair Corr
0.34	PLXS	Plexus Corp	Pair Corr
0.34	BKTI	BK Technologies	Pair Corr

Related Correlations Analysis

	LPTH	MEI	OSIS	PLXS	AMOT	KOPN	OLED	DAKT	KULR
LPTH		-0.16	0.2	0.71	0.79	-0.01	-0.31	0.55	0.39	LPTH
MEI	-0.16		0.24	-0.27	-0.38	-0.35	0.5	-0.19	0.06	MEI
OSIS	0.2	0.24		0.56	0.22	0.53	-0.54	0.63	0.8	OSIS
PLXS	0.71	-0.27	0.56		0.8	0.25	-0.67	0.69	0.62	PLXS
AMOT	0.79	-0.38	0.22	0.8		0.27	-0.52	0.58	0.44	AMOT
KOPN	-0.01	-0.35	0.53	0.25	0.27		-0.6	0.48	0.59	KOPN
OLED	-0.31	0.5	-0.54	-0.67	-0.52	-0.6		-0.73	-0.58	OLED
DAKT	0.55	-0.19	0.63	0.69	0.58	0.48	-0.73		0.58	DAKT
KULR	0.39	0.06	0.8	0.62	0.44	0.59	-0.58	0.58		KULR
	LPTH	MEI	OSIS	PLXS	AMOT	KOPN	OLED	DAKT	KULR

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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

KULR	+ 0.8	OSIS
AMOT	+ 0.8	PLXS
AMOT	+ 0.79	LPTH
PLXS	+ 0.71	LPTH
DAKT	+ 0.69	PLXS
DAKT	+ 0.63	OSIS

High negative correlations

DAKT	- 0.73	OLED
OLED	- 0.67	PLXS
OLED	- 0.6	KOPN
KULR	- 0.58	OLED
OLED	- 0.54	OSIS
OLED	- 0.52	AMOT

Risk-Adjusted Indicators

There is a big difference between Neonode Stock performing well and Neonode 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 Neonode'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
LPTH	2.90	0.33	0.07	0.74	3.43	(3.50)	7.50	(4.46)	18.28
MEI	2.67	0.14	0.01	0.66	3.24	(2.93)	7.64	(5.30)	18.54
OSIS	1.43	0.08	0.09	0.18	1.65	(1.54)	3.51	(2.91)	9.44
PLXS	1.40	0.17	0.17	0.22	1.22	(1.56)	3.38	(1.91)	12.92
AMOT	1.53	0.13	0.00	1.47	2.13	(1.55)	3.59	(3.35)	9.59
KOPN	4.15	0.47	0.06	0.59	7.31	(4.76)	9.72	(6.48)	43.91
OLED	1.71	(0.37)	0.00	(0.12)	0.00	0.00	3.04	(4.45)	15.98
DAKT	1.83	(0.06)	(0.03)	0.04	2.79	(1.76)	3.48	(4.61)	13.00
KULR	7.32	2.47	0.39	0.73	4.52	(13.48)	18.18	(6.90)	82.05

Neonode Corporate Management

Urban Forssell	Strategic Advisor	Profile
Helena Borjesson	Vice Culture	Profile
Johan Swartz	Vice Sales	Profile
Thierry Corman	VP Operations	Profile
CarlOlof Nydn	Acting Operations	Profile

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