Neogen Stock Market Value
| NEOG Stock | USD 16.84 0.07 0.42% |
| Symbol | Neogen |
Neogen Price To Book Ratio
Is Health Care Equipment & Supplies space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Neogen. If investors know Neogen will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Neogen listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.86) | Earnings Share 0.02 | Revenue Per Share 4.293 | Quarterly Revenue Growth 0.048 | Return On Assets 0.0179 |
The market value of Neogen is measured differently than its book value, which is the value of Neogen that is recorded on the company's balance sheet. Investors also form their own opinion of Neogen's value that differs from its market value or its book value, called intrinsic value, which is Neogen's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Neogen's market value can be influenced by many factors that don't directly affect Neogen's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Neogen's value and its price as these two are different measures arrived at by different means. Investors typically determine if Neogen is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Neogen's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Neogen 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Neogen's stock what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Neogen.
| 05/20/2024 |
| 06/19/2024 |
If you would invest 0.00 in Neogen on May 20, 2024 and sell it all today you would earn a total of 0.00 from holding Neogen or generate 0.0% return on investment in Neogen over 30 days. Neogen is related to or competes with Olink Holding, Aclaris Therapeutics, IQVIA Holdings, Medpace Holdings, ICON PLC, and Sotera Health. Neogen Corporation, together with its subsidiaries, develops, manufactures, and markets various products for food and an... More
Neogen Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Neogen's stock current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Neogen upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.88 | |||
| Information Ratio | 0.0611 | |||
| Maximum Drawdown | 17.3 | |||
| Value At Risk | (4.14) | |||
| Potential Upside | 4.14 |
Neogen Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Neogen's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Neogen's standard deviation. In reality, there are many statistical measures that can use Neogen historical prices to predict the future Neogen's volatility.| Risk Adjusted Performance | 0.0485 | |||
| Jensen Alpha | 0.1927 | |||
| Total Risk Alpha | 0.185 | |||
| Sortino Ratio | 0.0672 | |||
| Treynor Ratio | 0.1499 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Neogen's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Neogen Backtested Returns
We consider Neogen not too volatile. Neogen has Sharpe Ratio of 0.058, which conveys that the firm had a 0.058% return per unit of risk over the last 3 months. We have found thirty technical indicators for Neogen, which you can use to evaluate the volatility of the firm. Please verify Neogen's Downside Deviation of 2.88, risk adjusted performance of 0.0485, and Mean Deviation of 2.1 to check out if the risk estimate we provide is consistent with the expected return of 0.19%. Neogen has a performance score of 4 on a scale of 0 to 100. The company secures a Beta (Market Risk) of 1.3, which conveys a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Neogen will likely underperform. Neogen right now secures a risk of 3.21%. Please verify Neogen treynor ratio, kurtosis, period momentum indicator, as well as the relationship between the downside variance and day median price , to decide if Neogen will be following its current price movements.
Auto-correlation | 0.14 |
Insignificant predictability
Neogen has insignificant predictability. Overlapping area represents the amount of predictability between Neogen time series from 20th of May 2024 to 4th of June 2024 and 4th of June 2024 to 19th of June 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Neogen price movement. The serial correlation of 0.14 indicates that less than 14.0% of current Neogen price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.14 | |
| Spearman Rank Test | -0.2 | |
| Residual Average | 0.0 | |
| Price Variance | 0.17 |
Neogen lagged returns against current returns
Autocorrelation, which is Neogen stock's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Neogen's stock expected returns. We can calculate the autocorrelation of Neogen returns to help us make a trade decision. For example, suppose you find that Neogen has exhibited high autocorrelation historically, and you observe that the stock is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Neogen regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Neogen stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Neogen stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Neogen stock over time.
Current vs Lagged Prices |
| Timeline |
Neogen Lagged Returns
When evaluating Neogen's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Neogen stock have on its future price. Neogen autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Neogen autocorrelation shows the relationship between Neogen stock current value and its past values and can show if there is a momentum factor associated with investing in Neogen.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
Additional Information and Resources on Investing in Neogen Stock
When determining whether Neogen is a strong investment it is important to analyze Neogen's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Neogen's future performance. For an informed investment choice regarding Neogen Stock, refer to the following important reports:Check out Neogen Correlation, Neogen Volatility and Neogen Alpha and Beta module to complement your research on Neogen. For more detail on how to invest in Neogen Stock please use our How to Invest in Neogen guide.You can also try the Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
Neogen technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.