Mayville Engineering Correlations

MEC Stock

USD 13.90 0.04 0.29%

The correlation of Mayville Engineering 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.

Mayville Engineering Correlation With Market

Modest diversification

The correlation between Mayville Engineering Co and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mayville Engineering Co 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 Mayville Engineering Co. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with Mayville Stock

0.62	TG	Tredegar	Pair Corr
0.76	GIFI	Gulf Island Fabrication Downward Rally	Pair Corr
0.86	NWPX	Northwest Pipe	Pair Corr
0.7	PRLB	Proto Labs	Pair Corr
0.76	TPCS	TechPrecision Common	Pair Corr
0.76	TRSG	Tungray Technologies Buyout Trend	Pair Corr
0.69	CMPO	CompoSecure	Pair Corr
0.84	J	Jacobs Solutions	Pair Corr
0.62	R	Ryder System	Pair Corr
0.84	BV	BrightView Holdings	Pair Corr
0.77	BW	Babcock Wilcox Enter	Pair Corr
0.73	CW	Curtiss Wright	Pair Corr
0.74	DY	Dycom Industries	Pair Corr
0.84	FA	First Advantage Corp	Pair Corr
0.73	GP	GreenPower Motor	Pair Corr
0.74	HI	Hillenbrand	Pair Corr

Moving against Mayville Stock

0.46	RYI	Ryerson Holding Corp	Pair Corr
0.4	G	Genpact Limited	Pair Corr
0.66	PC	Premium Catering	Pair Corr
0.57	EH	Ehang Holdings	Pair Corr
0.54	LZ	LegalZoom	Pair Corr
0.52	KC	Kingsoft Cloud Holdings	Pair Corr
0.36	GE	GE Aerospace	Pair Corr

Related Correlations Analysis

	HAYN	IIIN	GIFI	ESAB	NWPX	AP	RYI	WOR	ATI	CRS
HAYN		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	HAYN
IIIN	0.0		0.07	0.7	0.5	-0.05	0.39	0.59	0.48	0.15	IIIN
GIFI	0.0	0.07		0.13	0.77	0.58	-0.61	-0.03	0.43	0.11	GIFI
ESAB	0.0	0.7	0.13		0.49	0.04	0.28	0.45	0.39	0.21	ESAB
NWPX	0.0	0.5	0.77	0.49		0.32	-0.38	0.32	0.69	0.08	NWPX
AP	0.0	-0.05	0.58	0.04	0.32		-0.28	0.15	0.26	0.47	AP
RYI	0.0	0.39	-0.61	0.28	-0.38	-0.28		0.4	0.08	0.42	RYI
WOR	0.0	0.59	-0.03	0.45	0.32	0.15	0.4		0.51	0.47	WOR
ATI	0.0	0.48	0.43	0.39	0.69	0.26	0.08	0.51		0.47	ATI
CRS	0.0	0.15	0.11	0.21	0.08	0.47	0.42	0.47	0.47		CRS
	HAYN	IIIN	GIFI	ESAB	NWPX	AP	RYI	WOR	ATI	CRS

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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

NWPX	+ 0.77	GIFI
ESAB	+ 0.7	IIIN
ATI	+ 0.69	NWPX
WOR	+ 0.59	IIIN
AP	+ 0.58	GIFI
ATI	+ 0.51	WOR

High negative correlations

RYI	- 0.61	GIFI
RYI	- 0.38	NWPX
RYI	- 0.28	AP
AP	- 0.05	IIIN
WOR	- 0.03	GIFI
CRS	- 0.0	HAYN

Risk-Adjusted Indicators

There is a big difference between Mayville Stock performing well and Mayville Engineering 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 Mayville Engineering'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
HAYN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
IIIN	1.80	(0.02)	0.00	(0.05)	0.00	0.00	3.63	(3.15)	14.41
GIFI	1.56	(0.22)	0.00	(1.60)	0.00	0.00	2.56	(4.19)	8.96
ESAB	1.59	(0.04)	0.00	(0.08)	0.00	0.00	3.30	(4.01)	8.87
NWPX	1.83	(0.21)	0.00	(0.21)	0.00	0.00	3.60	(4.26)	14.98
AP	3.16	0.18	0.05	0.52	3.51	(3.90)	8.84	(6.81)	23.92
RYI	2.34	0.16	0.06	0.26	2.62	(2.42)	5.50	(3.92)	14.78
WOR	1.66	0.15	0.07	0.10	1.90	(1.68)	3.51	(3.19)	14.32
ATI	1.81	0.01	0.00	(0.03)	0.00	0.00	3.36	(3.88)	17.56
CRS	2.34	0.25	0.07	0.14	3.20	(2.36)	4.65	(5.33)	17.79

Mayville Engineering Corporate Executives

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

Todd CPA	Secretary CFO	Profile
Todd Butz	Chief Financial Officer, Secretary	Profile
Randall Stille	Chief Operating Officer	Profile
Steve Mance	Chief Operating Officer	Profile

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