Methode Electronics Correlations

MEI Stock

USD 6.68 0.09 1.33%

The current 90-days correlation between Methode Electronics and OSI Systems is 0.21 (i.e., Modest 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

Very weak diversification

The correlation between Methode Electronics and DJI is 0.45 (i.e., Very 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.

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 income.

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

0.7	FLEX	Flex	Pair Corr
0.82	HPQ	HP Inc	Pair Corr
0.75	WBX	Wallbox NV	Pair Corr
0.75	LFUS	Littelfuse	Pair Corr
0.92	AIRG	Airgain	Pair Corr
0.64	CLFD	Clearfield	Pair Corr
0.76	S	SentinelOne	Pair Corr
0.86	CRM	Salesforce	Pair Corr
0.8	TDC	Teradata Corp	Pair Corr
0.7	PATH	Uipath Inc Earnings Call Tomorrow	Pair Corr
0.84	SLNH	Soluna Holdings	Pair Corr
0.68	PPERF	Bank Mandiri Persero	Pair Corr
0.83	PPERY	Bank Mandiri Persero	Pair Corr
0.68	PBCRF	PT Bank Central	Pair Corr
0.75	PBCRY	Bank Central Asia	Pair Corr
0.67	BKRKY	Bank Rakyat	Pair Corr
0.78	TLK	Telkom Indonesia Tbk	Pair Corr

Moving against Methode Stock

0.62	MQ	Marqeta	Pair Corr
0.55	ALTR	Altair Engineering	Pair Corr
0.48	MLGO	MicroAlgo	Pair Corr
0.44	JG	Aurora Mobile	Pair Corr
0.34	ZS	Zscaler	Pair Corr
0.78	VZ	Verizon Communications	Pair Corr
0.76	JNJ	Johnson Johnson	Pair Corr
0.73	TRV	The Travelers Companies	Pair Corr
0.72	CWCO	Consolidated Water Earnings Call This Week	Pair Corr
0.72	T	ATT Inc Earnings Call Tomorrow	Pair Corr
0.67	MCD	McDonalds	Pair Corr
0.6	WM	Waste Management	Pair Corr
0.54	XOM	Exxon Mobil Corp	Pair Corr
0.52	IBM	International Business	Pair Corr
0.43	PG	Procter Gamble	Pair Corr
0.4	300131	ShenZhen Yitoa Intel	Pair Corr

Related Correlations Analysis

	SANM	BHE	OSIS	CLS	PLXS	BELFA	CTS	RELL
SANM		0.05	0.65	0.94	0.07	0.03	0.01	-0.02	SANM
BHE	0.05		-0.54	0.12	0.97	0.78	0.93	0.65	BHE
OSIS	0.65	-0.54		0.54	-0.57	-0.33	-0.47	-0.28	OSIS
CLS	0.94	0.12	0.54		0.14	0.03	0.07	0.02	CLS
PLXS	0.07	0.97	-0.57	0.14		0.82	0.93	0.66	PLXS
BELFA	0.03	0.78	-0.33	0.03	0.82		0.91	0.79	BELFA
CTS	0.01	0.93	-0.47	0.07	0.93	0.91		0.75	CTS
RELL	-0.02	0.65	-0.28	0.02	0.66	0.79	0.75		RELL
	SANM	BHE	OSIS	CLS	PLXS	BELFA	CTS	RELL

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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

PLXS	+ 0.97	BHE
CLS	+ 0.94	SANM
CTS	+ 0.93	BHE
CTS	+ 0.93	PLXS
CTS	+ 0.91	BELFA
BELFA	+ 0.82	PLXS

High negative correlations

PLXS	- 0.57	OSIS
OSIS	- 0.54	BHE
CTS	- 0.47	OSIS
BELFA	- 0.33	OSIS
RELL	- 0.28	OSIS
RELL	- 0.02	SANM

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
SANM	1.42	0.06	0.00	(0.02)	0.00	0.00	3.14	(3.21)	13.03
BHE	1.46	(0.21)	0.00	(0.31)	0.00	0.00	2.78	(3.52)	10.57
OSIS	1.97	0.22	0.08	0.09	2.38	(2.04)	3.70	(4.10)	19.95
CLS	4.03	0.26	0.03	0.07	7.02	(3.73)	8.16	(7.29)	32.59
PLXS	1.33	(0.33)	0.00	(0.51)	0.00	0.00	2.30	(3.00)	12.43
BELFA	1.91	(0.43)	0.00	(0.99)	0.00	0.00	3.53	(4.33)	13.15
CTS	1.28	(0.36)	0.00	(0.42)	0.00	0.00	2.05	(3.56)	6.79
RELL	1.67	(0.20)	0.00	(0.87)	0.00	0.00	3.79	(3.55)	17.14

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