NEON vs. CDNA

Last updated Jun 4, 2026

NEON (Neonode Inc.) and CDNA (CareDx, Inc) are both stocks. NEON operates in Electronic Components (Technology), while CDNA operates in Diagnostics & Research (Healthcare). Over the past 10 years, NEON returned -20.16%/yr vs 17.18%/yr for CDNA. At a 0.13 correlation, their price movements are largely independent.

Performance

NEON vs. CDNA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Neonode Inc. (NEON) and CareDx, Inc (CDNA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NEON achieves a 4.60% return, which is significantly lower than CDNA's 18.42% return. Over the past 10 years, NEON has underperformed CDNA with an annualized return of -20.16%, while CDNA has yielded a comparatively higher 17.18% annualized return.

NEON

• 1D: 10.98%
• 1M: 9.64%
• YTD: 4.60%
• 6M: -21.89%
• 1Y: -82.42%
• 3Y*: -39.91%
• 5Y*: -21.46%
• 10Y*: -20.16%

CDNA

• 1D: 1.09%
• 1M: 6.44%
• YTD: 18.42%
• 6M: 18.36%
• 1Y: 27.92%
• 3Y*: 40.00%
• 5Y*: -22.72%
• 10Y*: 17.18%

*Multi-year figures are annualized to reflect compound growth (CAGR)

NEON vs. CDNA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NEON Neonode Inc.	4.60%	-78.86%	259.39%	-58.36%	-37.85%	31.11%	247.94%	16.87%	-77.66%	-59.61%
CDNA CareDx, Inc	18.42%	-12.00%	78.42%	5.17%	-74.91%	-37.23%	235.88%	-14.20%	242.51%	171.85%

Correlation

The correlation between NEON and CDNA is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.26
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (5Y) Calculated over the trailing 5-year period	0.21
Correlation (10Y) Calculated over the trailing 10-year period	0.13
Correlation (All Time) Calculated using the full available price history since Jul 18, 2014	0.13

The correlation between NEON and CDNA shifts across timeframes, from 0.13 (all time) to 0.26 (1 year), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap NEON : $30.55M CDNA : $1.19B
EPS NEON : $0.50 CDNA : -$0.15
PS Ratio NEON : 14.12 CDNA : 2.87
PB Ratio NEON : 1.34 CDNA : 3.78
Total Revenue (TTM) NEON : $2.16M CDNA : $412.82M
Gross Profit (TTM) NEON : $1.81M CDNA : $198.97M
EBITDA (TTM) NEON : $7.89M CDNA : $4.15M

Return for Risk

NEON vs. CDNA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NEON

NEON Risk / Return Rank: 13
NEON Sharpe Ratio Rank: 13
NEON Sortino Ratio Rank: 13
NEON Omega Ratio Rank: 10
NEON Calmar Ratio Rank: 8
NEON Martin Ratio Rank: 20

CDNA

CDNA Risk / Return Rank: 56
CDNA Sharpe Ratio Rank: 55
CDNA Sortino Ratio Rank: 55
CDNA Omega Ratio Rank: 59
CDNA Calmar Ratio Rank: 55
CDNA Martin Ratio Rank: 54

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

NEON vs. CDNA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neonode Inc. (NEON) and CareDx, Inc (CDNA). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	NEON	CDNA	Difference
Sharpe ratio Return per unit of total volatility	-0.67	0.39	-1.06
Sortino ratio Return per unit of downside risk	-0.85	1.03	-1.87
Omega ratio Gain probability vs. loss probability	0.86	1.16	-0.30
Calmar ratio Return relative to maximum drawdown	-0.86	0.64	-1.50
Martin ratio Return relative to average drawdown	-1.03	1.32	-2.35
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NEON vs. CDNA - Sharpe Ratio Comparison

The current NEON Sharpe Ratio is -0.67, which is lower than the CDNA Sharpe Ratio of 0.39. The chart below compares the historical Sharpe Ratios of NEON and CDNA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	NEON	CDNA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.67	0.39	-1.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.20	-0.30	+0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.20	0.22	-0.42
Sharpe Ratio (All Time) Calculated using the full available price history	-0.22	0.10	-0.32

Drawdowns

NEON vs. CDNA - Drawdown Comparison

The maximum NEON drawdown since its inception was -99.93%, which is greater than CDNA's maximum drawdown of -94.87%. Use the drawdown chart below to compare losses from any high point for NEON and CDNA.

Drawdown Indicators

	NEON	CDNA	Difference
Max Drawdown Largest peak-to-trough decline	-99.93%	-94.87%	-5.06%
Max Drawdown (1Y) Largest decline over 1 year	-95.67%	-43.92%	-51.75%
Max Drawdown (3Y) Largest decline over 3 years	-95.67%	-65.96%	-29.71%
Max Drawdown (5Y) Largest decline over 5 years	-95.67%	-94.85%	-0.82%
Max Drawdown (10Y) Largest decline over 10 years	-95.67%	-94.87%	-0.80%
Current Drawdown Current decline from peak	-99.89%	-76.66%	-23.23%
Average Drawdown Average peak-to-trough decline	-96.77%	-53.68%	-43.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	80.08%	21.13%	+58.95%

Volatility

NEON vs. CDNA - Volatility Comparison

Neonode Inc. (NEON) has a higher volatility of 25.36% compared to CareDx, Inc (CDNA) at 9.22%. This indicates that NEON's price experiences larger fluctuations and is considered to be riskier than CDNA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NEON	CDNA	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.36%	9.22%	+16.14%
Volatility (6M) Calculated over the trailing 6-month period	43.84%	44.79%	-0.95%
Volatility (1Y) Calculated over the trailing 1-year period	123.49%	71.89%	+51.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	107.66%	77.33%	+30.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	98.89%	78.46%	+20.43%

Dividends

NEON vs. CDNA - Dividend Comparison

Neither NEON nor CDNA has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both NEON and CDNA in my portfolio?

NEON and CDNA have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NEON or CDNA?

NEON has higher volatility (25.36%) compared to CDNA (9.22%). In terms of maximum drawdown, NEON dropped -99.93% vs CDNA's -94.87%.

Which has better risk-adjusted returns?

CDNA currently has the higher Sharpe Ratio (0.39 vs -0.67), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.