Neo Performance Correlations
| NOPMF Stock | USD 4.19 0.03 0.72% |
The correlation of Neo Performance 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Neo Performance moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Neo Performance Materials moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Weak diversification
The correlation between Neo Performance Materials and NYA is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Neo Performance Materials and NYA in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to Neo Performance could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Neo Performance when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Neo Performance - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Neo Performance Materials to buy it.
Moving together with Neo Pink Sheet
| 0.78 | ACN | Accenture plc Financial Report 27th of June 2024 | PairCorr |
| 0.85 | DPSTF | Deutsche Post AG Earnings Call This Week | PairCorr |
Moving against Neo Pink Sheet
| 0.9 | HNHPF | Hon Hai Precision | PairCorr |
| 0.84 | DD | Dupont De Nemours Sell-off Trend | PairCorr |
| 0.73 | AMZN | Amazon Inc | PairCorr |
| 0.71 | WMT | Walmart Financial Report 16th of May 2024 | PairCorr |
| 0.69 | GVDNY | Givaudan SA ADR | PairCorr |
| 0.63 | ECL | Ecolab Inc Financial Report 7th of May 2024 | PairCorr |
| 0.44 | SKFOF | Sika AG | PairCorr |
| 0.42 | SXYAY | Sika AG ADR | PairCorr |
| 0.93 | GE | GE Aerospace Financial Report 23rd of July 2024 | PairCorr |
Related Correlations Analysis
| -0.45 | -0.04 | 0.09 | -0.02 | 0.21 | DWAHY | ||
| -0.45 | -0.44 | 0.55 | 0.33 | 0.49 | AQUI | ||
| -0.04 | -0.44 | -0.52 | -0.52 | -0.61 | BRRAY | ||
| 0.09 | 0.55 | -0.52 | 0.7 | 0.96 | MSTSX | ||
| -0.02 | 0.33 | -0.52 | 0.7 | 0.75 | VIASP | ||
| 0.21 | 0.49 | -0.61 | 0.96 | 0.75 | RRTLX | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Neo Pink Sheet performing well and Neo Performance 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 Performance'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| DWAHY | 1.08 | (0.13) | 0.00 | (0.23) | 0.00 | 1.97 | 5.36 | |||
| AQUI | 0.60 | 0.29 | 0.00 | 6.64 | 0.00 | 0.00 | 20.00 | |||
| BRRAY | 1.03 | 0.09 | 0.00 | (0.10) | 0.00 | 0.00 | 35.79 | |||
| MSTSX | 0.50 | 0.04 | (0.04) | 1.36 | 0.66 | 1.07 | 3.20 | |||
| VIASP | 1.27 | 0.03 | 0.02 | 0.09 | 1.85 | 2.59 | 13.41 | |||
| RRTLX | 0.27 | 0.01 | (0.15) | 0.57 | 0.29 | 0.60 | 1.46 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Neo Performance without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Neo Performance Corporate Directors
Neo Performance corporate directors refer to members of a Neo Performance board of directors. The board of directors generally takes responsibility for the Neo Performance's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Neo Performance's board members must vote for the resolution. The Neo Performance board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| Edgar Lee | Director | Profile | |
| Nicholas Basso | Director | Profile | |
| Claire Kennedy | Independent Director | Profile | |
| Aman Kumar | Director | Profile |
Already Invested in Neo Performance Materials?
The danger of trading Neo Performance Materials is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Neo Performance is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Neo Performance. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Neo Performance Materials is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Neo Performance Materials. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in population. You can also try the Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
Complementary Tools for Neo Pink Sheet analysis
When running Neo Performance's price analysis, check to measure Neo Performance's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Neo Performance is operating at the current time. Most of Neo Performance's value examination focuses on studying past and present price action to predict the probability of Neo Performance's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Neo Performance's price. Additionally, you may evaluate how the addition of Neo Performance to your portfolios can decrease your overall portfolio volatility.
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