Middleby Corp Correlations

MIDD Stock

USD 168.86 1.86 1.11%

The current 90-days correlation between Middleby Corp and Gates Industrial is -0.05 (i.e., Good diversification). The correlation of Middleby Corp 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.

Middleby Corp Correlation With Market

Very poor diversification

The correlation between Middleby Corp and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Middleby Corp and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Middleby Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Middleby Corp. 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 information on how to trade Middleby Stock refer to our How to Trade Middleby Stock guide.

Moving together with Middleby Stock

0.88	FUCA	FANUC PUNSPADR 110	Pair Corr
0.64	CR	Crane Company	Pair Corr
0.85	HI	Hillenbrand	Pair Corr
0.65	HY	Hyster Yale Materials Earnings Call This Week	Pair Corr
0.71	IR	Ingersoll Rand	Pair Corr
0.79	PH	Parker Hannifin	Pair Corr
0.81	PL	Planet Labs PBC	Pair Corr
0.63	TE	T1 Energy Symbol Change	Pair Corr
0.7	OSG	OSG Corporation	Pair Corr
0.9	21T	Bodycote PLC	Pair Corr
0.69	KC4	KONE Oyj	Pair Corr
0.66	JUN3	Jungheinrich AG ONVZO	Pair Corr
0.67	GCP	General Electric	Pair Corr
0.71	NVJP	Umicore SA	Pair Corr
0.68	EAAS	Eenergy Group PLC	Pair Corr
0.76	IMI1	IMI plc Earnings Call This Week	Pair Corr
0.63	CE3	Chongqing Machinery	Pair Corr
0.8	HZ8	Insteel Industries	Pair Corr
0.62	DZR	AVINGTRANS LS 05	Pair Corr
0.67	TWN	Twin Disc	Pair Corr
0.79	NDX1	Nordex SE	Pair Corr
0.74	PFV	Pfeiffer Vacuum Tech	Pair Corr

Moving against Middleby Stock

0.7	FQ4	OCEAN GEOLOOP AS	Pair Corr
0.5	INRN	Interroll Holding	Pair Corr
0.48	74Z	BOA CEPT SA	Pair Corr
0.38	RR	Richtech Robotics Class	Pair Corr
0.75	D7G	Nel ASA	Pair Corr
0.87	7YA	M VEST WATER	Pair Corr
0.79	EPOW	Sunrise New Energy	Pair Corr
0.53	WATR	Current Water Techno	Pair Corr

Related Correlations Analysis

	GTES	JBTM	FBIN	MIR	MSA	KEX	R	RYAAY	ADT	GATX
GTES		0.65	0.47	-0.67	0.92	0.65	0.86	-0.4	-0.54	0.81	GTES
JBTM	0.65		0.67	-0.39	0.76	0.61	0.81	0.2	-0.19	0.86	JBTM
FBIN	0.47	0.67		0.07	0.68	0.66	0.46	-0.02	0.02	0.63	FBIN
MIR	-0.67	-0.39	0.07		-0.47	-0.15	-0.69	0.25	0.56	-0.53	MIR
MSA	0.92	0.76	0.68	-0.47		0.83	0.83	-0.29	-0.44	0.91	MSA
KEX	0.65	0.61	0.66	-0.15	0.83		0.59	-0.18	-0.16	0.79	KEX
R	0.86	0.81	0.46	-0.69	0.83	0.59		-0.07	-0.4	0.89	R
RYAAY	-0.4	0.2	-0.02	0.25	-0.29	-0.18	-0.07		0.46	-0.02	RYAAY
ADT	-0.54	-0.19	0.02	0.56	-0.44	-0.16	-0.4	0.46		-0.37	ADT
GATX	0.81	0.86	0.63	-0.53	0.91	0.79	0.89	-0.02	-0.37		GATX
	GTES	JBTM	FBIN	MIR	MSA	KEX	R	RYAAY	ADT	GATX

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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

MSA	+ 0.92	GTES
GATX	+ 0.91	MSA
GATX	+ 0.89	R
R	+ 0.86	GTES
GATX	+ 0.86	JBTM
KEX	+ 0.83	MSA

High negative correlations

R	- 0.69	MIR
MIR	- 0.67	GTES
ADT	- 0.54	GTES
GATX	- 0.53	MIR
MSA	- 0.47	MIR
ADT	- 0.44	MSA

Risk-Adjusted Indicators

There is a big difference between Middleby Stock performing well and Middleby Corp 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 Middleby Corp's 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
GTES	1.60	0.27	0.18	0.31	1.36	(2.01)	3.74	(1.96)	10.28
JBTM	1.30	0.05	0.06	0.12	1.22	(1.76)	3.11	(2.21)	15.92
FBIN	2.12	0.15	0.05	0.18	3.32	(2.27)	5.70	(3.52)	25.45
MIR	2.04	(0.26)	0.00	(0.07)	0.00	0.00	4.28	(4.84)	17.24
MSA	1.10	0.28	0.27	0.39	0.64	(1.35)	3.19	(1.50)	6.97
KEX	1.14	0.21	0.15	0.32	1.16	(1.38)	3.06	(1.89)	9.34
R	1.47	0.32	0.19	0.30	1.53	(1.66)	3.79	(3.01)	10.45
RYAAY	1.42	0.06	0.03	0.15	1.76	(1.41)	3.63	(3.04)	9.49
ADT	0.98	(0.06)	(0.03)	0.03	1.53	(0.97)	1.73	(2.31)	7.79
GATX	0.93	0.32	0.21	(1.52)	0.75	(1.11)	2.06	(1.37)	8.51

Middleby Corp Corporate Executives

Elected by the shareholders, the Middleby Corp's board of directors comprises two types of representatives: Middleby Corp inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Middleby. The board's role is to monitor Middleby Corp's management team and ensure that shareholders' interests are well served. Middleby Corp's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Middleby Corp's outside directors are responsible for providing unbiased perspectives on the board's policies.

Timothy FitzGerald

CFO, Principal Accounting Officer, VP, CFO of Middleby Marshall Inc and VP of Middleby Marshall Inc

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