Methode Electronics Correlations

MEI Stock

USD 6.83 0.14 2.01%

The current 90-days correlation between Methode Electronics and T1 Energy is 0.02 (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

Weak diversification

The correlation between Methode Electronics and DJI is 0.32 (i.e., 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 banks.

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

0.67	KE	Kimball Electronics	Pair Corr
0.7	DSWL	Deswell Industries Upward Rally	Pair Corr
0.65	SATLW	Satellogic Warrant	Pair Corr

Moving against Methode Stock

0.58	301099	Shanghai Yct Electronics	Pair Corr
0.39	FN	Fabrinet	Pair Corr
0.34	300771	Shenzhen Zhilai Sci	Pair Corr
0.66	603556	Hexing Electrical	Pair Corr
0.43	300354	DongHua Testing Tech	Pair Corr
0.4	603015	Ningbo Techmation	Pair Corr
0.4	ELTK	Eltek	Pair Corr
0.64	300626	Huarui Electrical	Pair Corr
0.45	301045	Talant Optronics	Pair Corr
0.31	601138	Foxconn Industrial	Pair Corr

Related Correlations Analysis

	LTBR	TE	GNK	TRNS	NAT	GHM	ADSE	BWMN	IIIN	HY
LTBR		0.78	-0.42	-0.3	0.54	0.82	0.0	0.35	-0.51	-0.05	LTBR
TE	0.78		-0.49	-0.61	0.73	0.91	-0.24	-0.08	-0.76	-0.42	TE
GNK	-0.42	-0.49		-0.13	-0.02	-0.41	-0.33	-0.13	0.45	-0.08	GNK
TRNS	-0.3	-0.61	-0.13		-0.77	-0.61	0.4	0.6	0.54	0.86	TRNS
NAT	0.54	0.73	-0.02	-0.77		0.79	-0.45	-0.29	-0.79	-0.63	NAT
GHM	0.82	0.91	-0.41	-0.61	0.79		-0.21	-0.04	-0.77	-0.36	GHM
ADSE	0.0	-0.24	-0.33	0.4	-0.45	-0.21		0.07	0.23	0.27	ADSE
BWMN	0.35	-0.08	-0.13	0.6	-0.29	-0.04	0.07		0.3	0.77	BWMN
IIIN	-0.51	-0.76	0.45	0.54	-0.79	-0.77	0.23	0.3		0.51	IIIN
HY	-0.05	-0.42	-0.08	0.86	-0.63	-0.36	0.27	0.77	0.51		HY
	LTBR	TE	GNK	TRNS	NAT	GHM	ADSE	BWMN	IIIN	HY

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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

GHM	+ 0.91	TE
HY	+ 0.86	TRNS
GHM	+ 0.82	LTBR
GHM	+ 0.79	NAT
TE	+ 0.78	LTBR
HY	+ 0.77	BWMN

High negative correlations

IIIN	- 0.79	NAT
IIIN	- 0.77	GHM
NAT	- 0.77	TRNS
IIIN	- 0.76	TE
HY	- 0.63	NAT
GHM	- 0.61	TRNS

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
LTBR	5.45	0.25	0.05	0.08	6.68	(6.03)	10.35	(10.50)	44.30
TE	6.73	1.34	0.21	0.87	5.62	(8.26)	18.11	(9.73)	43.42
GNK	1.36	0.12	0.06	0.28	1.80	(1.37)	2.63	(3.00)	8.34
TRNS	2.25	(0.67)	0.00	(0.41)	0.00	0.00	4.31	(4.60)	17.88
NAT	1.66	0.51	0.27	1.78	1.33	(2.06)	3.72	(2.73)	9.72
GHM	2.37	0.13	0.06	0.10	2.55	(2.63)	4.50	(4.52)	11.13
ADSE	2.66	(0.09)	0.00	(0.15)	0.00	0.00	6.63	(7.06)	20.96
BWMN	2.11	(0.25)	0.00	(0.10)	0.00	0.00	4.29	(3.58)	27.75
IIIN	1.42	(0.29)	0.00	(0.14)	0.00	0.00	2.77	(2.31)	23.87
HY	1.74	(0.45)	0.00	(0.36)	0.00	0.00	3.10	(3.53)	12.43

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