Materion Correlations

MTRN Stock

USD 112.97 0.60 0.53%

The current 90-days correlation between Materion and Compass Minerals International is 0.27 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Materion moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Materion moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Materion Correlation With Market

Poor diversification

The correlation between Materion and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Materion and DJI in the same portfolio, assuming nothing else is changed.

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

To learn how to invest in Materion Stock, please use our How to Invest in Materion guide.

Moving against Materion Stock

0.37	SKE	Skeena Resources	Pair Corr
0.33	VZLA	Vizsla Resources Corp	Pair Corr
0.32	FURY	Fury Gold Mines	Pair Corr
0.5	DLEXY	Datalex plc	Pair Corr
0.31	UAMY	United States Antimony	Pair Corr

Related Correlations Analysis

	SKE	CMP	IPX	EMX	NEXA	FURY	ESKYF	VZLA	WRN	USAS
SKE		0.64	0.34	0.85	0.7	0.87	0.01	0.65	-0.09	0.82	SKE
CMP	0.64		0.82	0.64	0.92	0.57	-0.44	0.1	0.26	0.83	CMP
IPX	0.34	0.82		0.32	0.78	0.3	-0.38	-0.15	0.28	0.65	IPX
EMX	0.85	0.64	0.32		0.71	0.88	0.03	0.6	0.23	0.74	EMX
NEXA	0.7	0.92	0.78	0.71		0.63	-0.47	0.21	0.17	0.89	NEXA
FURY	0.87	0.57	0.3	0.88	0.63		0.14	0.64	0.24	0.69	FURY
ESKYF	0.01	-0.44	-0.38	0.03	-0.47	0.14		0.17	0.2	-0.39	ESKYF
VZLA	0.65	0.1	-0.15	0.6	0.21	0.64	0.17		-0.29	0.45	VZLA
WRN	-0.09	0.26	0.28	0.23	0.17	0.24	0.2	-0.29		-0.05	WRN
USAS	0.82	0.83	0.65	0.74	0.89	0.69	-0.39	0.45	-0.05		USAS
	SKE	CMP	IPX	EMX	NEXA	FURY	ESKYF	VZLA	WRN	USAS

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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

NEXA	+ 0.92	CMP
USAS	+ 0.89	NEXA
FURY	+ 0.88	EMX
FURY	+ 0.87	SKE
EMX	+ 0.85	SKE
USAS	+ 0.83	CMP

High negative correlations

ESKYF	- 0.47	NEXA
ESKYF	- 0.44	CMP
USAS	- 0.39	ESKYF
ESKYF	- 0.38	IPX
WRN	- 0.29	VZLA
VZLA	- 0.15	IPX

Risk-Adjusted Indicators

There is a big difference between Materion Stock performing well and Materion 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 Materion'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
SKE	2.21	0.17	0.02	(0.52)	2.58	(2.76)	4.99	(2.97)	20.96
CMP	3.55	0.71	0.23	0.72	2.89	(4.71)	10.57	(5.36)	27.27
IPX	2.82	0.79	0.23	0.97	2.44	(3.20)	7.39	(5.15)	20.46
EMX	1.66	(0.06)	0.00	(0.08)	0.00	0.00	4.44	(2.99)	9.74
NEXA	1.71	0.20	0.07	0.87	1.78	(1.88)	3.58	(2.92)	8.62
FURY	2.69	0.07	0.00	0.44	3.16	(3.52)	5.00	(4.44)	17.52
ESKYF	3.25	(0.10)	0.00	0.34	0.00	0.00	8.33	(7.69)	22.42
VZLA	2.95	0.00	0.00	0.09	0.00	0.00	5.67	(5.13)	19.16
WRN	1.94	(0.10)	0.00	(0.01)	0.00	0.00	3.51	(4.31)	20.61
USAS	4.37	0.51	0.09	0.42	4.46	(6.20)	14.29	(9.52)	32.51

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