INM vs NEON: Correlation
Measured on weekly returns over the past three years, InMed Pharmaceuticals Inc. (INM) and Neonode Inc. (NEON) carry a correlation of 0.34, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INM and NEON?
Over the past 3 years, INM and NEON moved with a correlation of 0.34, which is moderate. The link has loosened recently: the 1-year correlation (0.19) runs below the 3-year figure (0.34). Over 5 years the correlation is 0.28, and the annualized covariance of weekly returns is 6880.8 %².
Within INM's tracked universe of 18 assets, NEON comes in at #9 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months INM outperformed by 59.8 percentage points (-36.4% for INM against -96.2% for NEON).
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.
INM vs NEON: side by side
| INM (InMed Pharmaceuticals Inc.) | NEON (Neonode Inc.) | |
|---|---|---|
| 1-year return | -36.4% | -96.2% |
| 5-year return | -99.9% | -82.6% |
| Volatility (ann.) | 169.8% | 119.0% |
| Beta vs S&P 500 | 2.62 | 1.95 |
| Max drawdown (3Y) | -96.9% | -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 | INM | NEON |
|---|---|---|
| 2022 | -93.8% | -37.9% |
| 2023 | -79.4% | -58.4% |
| 2024 | -43.0% | +259.4% |
| 2025 | -77.6% | -78.9% |
| 2026 | +34.9% | -49.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INM and NEON good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between INM and NEON?
As of 2026-08-27, the correlation of weekly returns between INM and NEON is 0.34 over 3 years, 0.19 over 1 year and 0.28 over 5 years.
Is NEON a good diversifier for INM?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.34 mean?
A reading of 0.34 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/inm-vs-neon.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/inm-vs-neon/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: INM correlations · NEON correlations
