Methode Electronics Correlations

MEI Stock

USD 9.07 0.30 3.42%

The current 90-days correlation between Methode Electronics and Aterian is 0.07 (i.e., Significant diversification). The correlation of Methode Electronics is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Methode Electronics Correlation With Market

Very weak diversification

The correlation between Methode Electronics and DJI is 0.52 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Methode Electronics and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Methode Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Methode Electronics. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in discontinued.

For more detail on how to invest in Methode Stock please use our How to Invest in Methode Electronics guide.

Moving together with Methode Stock

0.68	Q	Qnity Electronics Tech Boost	Pair Corr
0.83	KN	Knowles Cor	Pair Corr
0.83	LFS	Littelfuse	Pair Corr
0.76	PX4	Plexus Corp	Pair Corr
0.75	PJJ1	CHINA DISPLAY OTHHD	Pair Corr
0.8	PRHA	Prosegur Compaa de	Pair Corr
0.69	SATLW	Satellogic Warrant	Pair Corr
0.76	MKT	MKS Instruments Earnings Call This Week	Pair Corr
0.81	VNI	Avnet Inc	Pair Corr
0.81	BRV	Brady Earnings Call This Week	Pair Corr
0.7	BAERW	Bridger Aerospace	Pair Corr

Moving against Methode Stock

0.71	EBON	Ebang International	Pair Corr
0.7	EVLV	Evolv Technologies	Pair Corr
0.6	OTK	Otsuka	Pair Corr
0.42	EHGO	Eshallgo Class A	Pair Corr
0.34	KE	Kimball Electronics	Pair Corr
0.78	BMI	Badger Meter	Pair Corr
0.65	IDN	Intellicheck Mobilisa	Pair Corr
0.55	HHP2	Hon Hai Precision	Pair Corr
0.49	WRAP	Wrap Technologies	Pair Corr
0.45	FCUV	Focus Universal	Pair Corr
0.37	IZM	ICZOOM Group Class	Pair Corr

Related Correlations Analysis

	IPW	YJ	REBN	UCAR	BYAH	AZI	CENN	YYGH	DSS	ATER
IPW		0.33	-0.41	0.71	0.81	0.43	0.54	0.58	0.02	0.38	IPW
YJ	0.33		-0.09	0.59	0.41	0.23	0.25	0.53	0.47	0.15	YJ
REBN	-0.41	-0.09		-0.13	-0.17	-0.13	0.16	0.14	0.29	0.1	REBN
UCAR	0.71	0.59	-0.13		0.92	0.7	0.64	0.74	0.44	0.4	UCAR
BYAH	0.81	0.41	-0.17	0.92		0.71	0.65	0.74	0.23	0.45	BYAH
AZI	0.43	0.23	-0.13	0.7	0.71		0.51	0.44	0.35	0.41	AZI
CENN	0.54	0.25	0.16	0.64	0.65	0.51		0.66	0.4	0.61	CENN
YYGH	0.58	0.53	0.14	0.74	0.74	0.44	0.66		0.38	0.55	YYGH
DSS	0.02	0.47	0.29	0.44	0.23	0.35	0.4	0.38		0.27	DSS
ATER	0.38	0.15	0.1	0.4	0.45	0.41	0.61	0.55	0.27		ATER
	IPW	YJ	REBN	UCAR	BYAH	AZI	CENN	YYGH	DSS	ATER

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

BYAH	+ 0.92	UCAR
BYAH	+ 0.81	IPW
YYGH	+ 0.74	UCAR
YYGH	+ 0.74	BYAH
UCAR	+ 0.71	IPW
AZI	+ 0.71	BYAH

High negative correlations

REBN	- 0.41	IPW
BYAH	- 0.17	REBN
AZI	- 0.13	REBN
UCAR	- 0.13	REBN
REBN	- 0.09	YJ

Risk-Adjusted Indicators

There is a big difference between Methode Stock performing well and Methode Electronics Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Methode Electronics' multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
IPW	5.22	(1.41)	0.00	(1.09)	0.00	0.00	12.24	(11.74)	35.96
YJ	3.17	(0.24)	0.00	(0.50)	0.00	0.00	6.99	(7.53)	30.41
REBN	4.04	(0.03)	0.01	0.05	4.63	(4.72)	11.95	(9.04)	27.14
UCAR	2.82	(0.69)	0.00	(0.52)	0.00	0.00	4.79	(6.43)	19.82
BYAH	5.84	(2.08)	0.00	(1.83)	0.00	0.00	12.00	(16.00)	46.58
AZI	10.87	(2.19)	0.00	(1.17)	0.00	0.00	21.43	(18.80)	127.73
CENN	4.20	(0.37)	0.00	(0.12)	0.00	0.00	13.33	(6.67)	24.81
YYGH	2.97	(0.40)	0.00	(0.18)	0.00	0.00	8.33	(8.33)	19.52
DSS	4.11	(0.28)	0.00	(0.11)	0.00	0.00	12.77	(7.02)	50.17
ATER	3.74	(0.45)	0.00	(0.20)	0.00	0.00	7.69	(7.46)	28.48

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