Middleby Corp Correlations

MIDD Stock

USD 153.67 3.81 2.54%

The current 90-days correlation between Middleby Corp and Gates Industrial is 0.55 (i.e., Very weak 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 0.89 (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 american community survey.

For information on how to trade Middleby Stock refer to our How to Trade Middleby Stock guide.

Moving together with Middleby Stock

0.78	PH	Parker Hannifin	Pair Corr
0.87	PL	Planet Labs PBC	Pair Corr
0.79	HZ8	Insteel Industries	Pair Corr
0.67	RFG	Roebuck Food Group	Pair Corr
0.71	FSTR	LB Foster	Pair Corr
0.82	WWD	Woodward Upward Rally	Pair Corr
0.78	OERL	OC Oerlikon Corp	Pair Corr
0.8	PRV	Porvair plc Earnings Call This Week	Pair Corr
0.89	JBTM	JBTMarel Corp	Pair Corr
0.87	MGAM	Morgan Advanced Materials	Pair Corr
0.8	LECO	Lincoln Electric Holdings	Pair Corr
0.61	BYS	Bystronic AG	Pair Corr
0.82	OFLX	Omega Flex	Pair Corr
0.74	PKOH	Park Ohio Holdings	Pair Corr
0.79	PRLB	Proto Labs Earnings Call This Week	Pair Corr

Moving against Middleby Stock

0.77	XPON	Expion360	Pair Corr
0.68	WATR	Current Water Techno	Pair Corr
0.33	ITT	ITT Inc Earnings Call Tomorrow	Pair Corr
0.54	PNT	Pentair plc	Pair Corr
0.46	INLF	INLIF LIMITED Ordinary	Pair Corr
0.34	9ZJ	QLEANAIR AB SK Earnings Call This Week	Pair Corr
0.81	DFLI	Chardan NexTech Acqu	Pair Corr
0.68	XSG	Xeros Technology	Pair Corr
0.59	FSTF	First State Financial	Pair Corr
0.35	LORD	Lords Grp Trading	Pair Corr

Related Correlations Analysis

	GTES	JBTM	FBIN	MIR	MSA	KEX	R	RYAAY	ADT	GATX
GTES		0.47	0.7	0.29	0.81	0.69	0.34	0.34	0.07	0.6	GTES
JBTM	0.47		0.7	-0.37	0.69	0.73	0.87	0.85	-0.27	0.88	JBTM
FBIN	0.7	0.7		0.21	0.91	0.87	0.65	0.53	0.14	0.81	FBIN
MIR	0.29	-0.37	0.21		0.15	-0.03	-0.35	-0.42	0.6	-0.22	MIR
MSA	0.81	0.69	0.91	0.15		0.9	0.61	0.47	-0.03	0.84	MSA
KEX	0.69	0.73	0.87	-0.03	0.9		0.61	0.51	-0.14	0.83	KEX
R	0.34	0.87	0.65	-0.35	0.61	0.61		0.89	-0.1	0.89	R
RYAAY	0.34	0.85	0.53	-0.42	0.47	0.51	0.89		-0.1	0.8	RYAAY
ADT	0.07	-0.27	0.14	0.6	-0.03	-0.14	-0.1	-0.1		-0.09	ADT
GATX	0.6	0.88	0.81	-0.22	0.84	0.83	0.89	0.8	-0.09		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	+ 0.91	FBIN
KEX	+ 0.9	MSA
RYAAY	+ 0.89	R
GATX	+ 0.89	R
GATX	+ 0.88	JBTM
R	+ 0.87	JBTM

High negative correlations

RYAAY	- 0.42	MIR
MIR	- 0.37	JBTM
R	- 0.35	MIR
ADT	- 0.27	JBTM
GATX	- 0.22	MIR
ADT	- 0.14	KEX

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	1.51	0.02	0.03	0.05	1.72	(1.71)	3.04	(2.94)	9.05
JBTM	1.53	0.35	0.29	0.32	0.98	(2.12)	3.84	(2.21)	15.08
FBIN	1.82	0.14	0.10	0.11	1.60	(2.16)	5.20	(2.66)	10.57
MIR	2.07	(0.31)	0.00	(0.08)	0.00	0.00	4.28	(5.41)	14.80
MSA	1.21	0.09	0.06	0.12	1.55	(1.40)	2.35	(2.04)	7.22
KEX	1.11	0.24	0.16	0.32	1.19	(1.27)	3.31	(1.94)	9.34
R	1.28	0.29	0.14	(9.41)	1.48	(1.33)	3.54	(3.01)	8.43
RYAAY	1.27	0.20	0.13	0.28	1.24	(1.40)	3.75	(2.51)	7.50
ADT	1.03	(0.18)	0.00	(0.13)	0.00	0.00	1.73	(2.68)	9.78
GATX	0.87	0.20	0.19	0.29	0.73	(1.01)	1.96	(1.37)	4.89

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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