Matthews International Correlations

MATW Stock

USD 23.72 0.57 2.46%

The current 90-days correlation between Matthews International and Steel Partners Holdings is 0.1 (i.e., Average diversification). The correlation of Matthews International 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Matthews International Correlation With Market

Weak diversification

The correlation between Matthews International and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Matthews International 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 Matthews International. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

For more information on how to buy Matthews Stock please use our How to Invest in Matthews International guide.

Moving together with Matthews Stock

0.78	GEO	Geo Group	Pair Corr
0.86	KBR	KBR Inc	Pair Corr
0.82	CLVT	CLARIVATE PLC	Pair Corr
0.88	J	Jacobs Solutions	Pair Corr
0.84	BV	BrightView Holdings	Pair Corr
0.79	BW	Babcock Wilcox Enter	Pair Corr
0.82	CW	Curtiss Wright	Pair Corr
0.69	DY	Dycom Industries	Pair Corr
0.64	FA	First Advantage Corp	Pair Corr
0.68	HI	Hillenbrand	Pair Corr
0.68	HY	Hyster Yale Materials	Pair Corr
0.78	IR	Ingersoll Rand	Pair Corr
0.79	KE	Kimball Electronics	Pair Corr
0.81	OP	Oceanpal	Pair Corr
0.62	TE	T1 Energy Symbol Change	Pair Corr

Moving against Matthews Stock

0.82	EH	Ehang Holdings	Pair Corr
0.79	BZ	Kanzhun Ltd ADR	Pair Corr
0.54	DE	Deere Company	Pair Corr
0.82	SB	Safe Bulkers	Pair Corr
0.75	PC	Premium Catering	Pair Corr
0.73	DMYY	dMY Squared Technology	Pair Corr
0.72	WM	Waste Management	Pair Corr
0.67	LZ	LegalZoom	Pair Corr
0.66	VACH	Voyager Acquisition Corp	Pair Corr
0.53	GE	GE Aerospace	Pair Corr
0.45	MG	Mistras Group	Pair Corr

Related Correlations Analysis

	SPLP-PA	CODI-PA	BBU	TRC	SPLP	VMI	GFF	CODI	SEB
SPLP-PA		-0.22	0.36	0.25	-0.31	0.33	-0.26	-0.83	0.71	SPLP-PA
CODI-PA	-0.22		-0.31	0.16	-0.2	0.22	0.41	0.04	-0.35	CODI-PA
BBU	0.36	-0.31		-0.21	0.27	0.4	-0.12	-0.11	0.76	BBU
TRC	0.25	0.16	-0.21		-0.29	0.14	0.29	-0.37	-0.01	TRC
SPLP	-0.31	-0.2	0.27	-0.29		-0.24	-0.19	0.37	-0.05	SPLP
VMI	0.33	0.22	0.4	0.14	-0.24		0.32	-0.19	0.55	VMI
GFF	-0.26	0.41	-0.12	0.29	-0.19	0.32		0.25	-0.23	GFF
CODI	-0.83	0.04	-0.11	-0.37	0.37	-0.19	0.25		-0.54	CODI
SEB	0.71	-0.35	0.76	-0.01	-0.05	0.55	-0.23	-0.54		SEB
	SPLP-PA	CODI-PA	BBU	TRC	SPLP	VMI	GFF	CODI	SEB

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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

SEB	+ 0.76	BBU
SEB	+ 0.71	SPLP-PA
SEB	+ 0.55	VMI
GFF	+ 0.41	CODI-PA
VMI	+ 0.4	BBU
CODI	+ 0.37	SPLP

High negative correlations

CODI	- 0.83	SPLP-PA
SEB	- 0.54	CODI
CODI	- 0.37	TRC
SEB	- 0.35	CODI-PA
BBU	- 0.31	CODI-PA
SPLP	- 0.31	SPLP-PA

Risk-Adjusted Indicators

There is a big difference between Matthews Stock performing well and Matthews International 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 Matthews International'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
SPLP-PA	0.18	0.03	0.22	3.85	0.16	(0.21)	0.58	(0.33)	1.48
CODI-PA	0.87	(0.02)	0.00	(0.14)	0.00	0.00	2.03	(1.96)	5.64
BBU	1.73	0.11	0.04	0.05	2.21	(1.86)	3.55	(3.28)	12.93
TRC	1.27	0.09	0.07	0.10	1.54	(1.35)	3.10	(2.70)	7.06
SPLP	1.49	0.04	0.02	0.08	2.76	(2.17)	2.97	(2.21)	18.57
VMI	1.80	(0.07)	0.00	(0.10)	0.00	0.00	3.26	(3.81)	30.09
GFF	1.57	(0.01)	0.00	(0.04)	0.00	0.00	2.86	(3.19)	12.51
CODI	1.33	(0.26)	0.00	(0.25)	0.00	0.00	1.99	(2.82)	12.88
SEB	1.47	0.11	0.06	0.13	1.92	(1.52)	2.46	(2.58)	18.96

Matthews International Corporate Executives

Elected by the shareholders, the Matthews International's board of directors comprises two types of representatives: Matthews International inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Matthews. The board's role is to monitor Matthews International's management team and ensure that shareholders' interests are well served. Matthews International'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, Matthews International's outside directors are responsible for providing unbiased perspectives on the board's policies.

Steven Nicola

CFO and Corporate Secretary

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