ALP vs NEON: Correlation
Alpha Compute Corp (ALP) and Neonode Inc. (NEON) show a moderate relationship: their 3-year correlation of weekly returns is 0.36.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALP and NEON?
On 3 years of weekly data the ALP/NEON correlation comes out at 0.36, moderate. The link has loosened recently: the 1-year correlation (0.21) runs below the 3-year figure (0.36). The 5-year figure is 0.31, and annualized covariance runs at 8412.9 %².
In ALP's tracked universe of 10 assets, NEON sits right near the top at #1. Their 12-month results are close: -97.6% for ALP against -96.2% for NEON. Note the risk asymmetry: ALP runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
ALP vs NEON: side by side
| ALP (Alpha Compute Corp) | NEON (Neonode Inc.) | |
|---|---|---|
| 1-year return | -97.6% | -96.2% |
| 5-year return | -100.0% | -82.6% |
| Volatility (ann.) | 195.0% | 119.0% |
| Beta vs S&P 500 | 1.99 | 1.95 |
| Max drawdown (3Y) | -99.8% | -97.4% |
| Market cap | – | – |
| P/E (trailing) | – | 1.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALP | NEON |
|---|---|---|
| 2022 | -50.7% | -37.9% |
| 2023 | -65.6% | -58.4% |
| 2024 | -85.8% | +259.4% |
| 2025 | -88.4% | -78.9% |
| 2026 | -70.6% | -49.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALP and NEON good diversifiers for each other?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ALP and NEON?
The ALP/NEON correlation stands at 0.36 on a 3-year window (1 year: 0.21, 5 years: 0.31), computed from weekly returns as of 2026-08-27.
Is NEON a good diversifier for ALP?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.36 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/alp-vs-neon.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/alp-vs-neon/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ALP correlations · NEON correlations
