NEOG vs SCL: Correlation
How closely do Neogen Corporation (NEOG) and Stepan Company (SCL) trade together? Their weekly returns over three years give a correlation of 0.48, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NEOG and SCL?
Across a 3-year window, the weekly returns of NEOG and SCL correlate at 0.48, moderate. Little has changed lately, as the 1-year reading of 0.53 lands near the 3-year figure. Stretching to 5 years gives 0.47, with an annualized covariance of 1009.9 %².
In NEOG's tracked universe of 13 assets, SCL sits right near the top at #1. Their recent paths diverged sharply: over the last 12 months NEOG outperformed by 78.3 percentage points (+104.5% for NEOG against +26.2% for SCL). One caveat on sizing: NEOG is 1.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
NEOG vs SCL: side by side
| NEOG (Neogen Corporation) | SCL (Stepan Company) | |
|---|---|---|
| 1-year return | +104.5% | +26.2% |
| 5-year return | -73.2% | -40.5% |
| Volatility (ann.) | 57.8% | 36.4% |
| Beta vs S&P 500 | 1.11 | 0.93 |
| Max drawdown (3Y) | -81.2% | -54.0% |
| Market cap | $2.6B | $1.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 2.51% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NEOG | SCL |
|---|---|---|
| 2022 | -66.5% | -13.2% |
| 2023 | +32.0% | -9.7% |
| 2024 | -39.6% | -30.3% |
| 2025 | -42.4% | -24.6% |
| 2026 | +68.0% | +34.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NEOG and SCL good diversifiers for each other?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between NEOG and SCL?
Using weekly returns as of 2026-08-27: 0.48 over 3 years, with 0.53 over the last year and 0.47 over 5 years.
Is SCL a good diversifier for NEOG?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.48 mean?
A reading of 0.48 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/neog-vs-scl.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/neog-vs-scl/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NEOG correlations · SCL correlations
