Middleby Corp Correlations

MIDD Stock

USD 153.93 0.00 0.00%

The current 90-days correlation between Middleby Corp and Enpro Industries is 0.28 (i.e., Modest diversification). The correlation of Middleby Corp 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.

Middleby Corp Correlation With Market

Weak diversification

The correlation between Middleby Corp and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Middleby Corp 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 Middleby Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

For information on how to trade Middleby Stock refer to our How to Trade Middleby Stock guide.

Moving together with Middleby Stock

0.68	CR	Crane Company	Pair Corr
0.66	KAI	Kadant Inc	Pair Corr
0.64	NPO	Enpro Industries	Pair Corr

Moving against Middleby Stock

0.63	BW	Babcock Wilcox Enter	Pair Corr
0.59	CVV	CVD Equipment Earnings Call This Week	Pair Corr
0.48	AOS	Smith AO	Pair Corr
0.31	IR	Ingersoll Rand	Pair Corr
0.31	ATS	ATS Corporation	Pair Corr
0.59	ETN	Eaton PLC	Pair Corr
0.54	MIR	Mirion Technologies	Pair Corr
0.4	XMTR	Xometry	Pair Corr
0.4	RRX	Regal Beloit	Pair Corr
0.34	GHM	Graham	Pair Corr
0.68	HUHU	HUHUTECH International	Pair Corr
0.59	GNRC	Generac Holdings	Pair Corr

Related Correlations Analysis

	NPO	KAI	ITT	FELE	GGG	IEX	IR	WTS	DCI	GRC
NPO		0.71	0.43	0.82	0.66	-0.03	0.11	0.7	0.49	0.56	NPO
KAI	0.71		0.5	0.67	0.68	0.14	0.08	0.57	0.63	0.41	KAI
ITT	0.43	0.5		0.27	0.38	0.78	0.81	0.24	0.68	0.44	ITT
FELE	0.82	0.67	0.27		0.88	-0.11	0.08	0.85	0.57	0.75	FELE
GGG	0.66	0.68	0.38	0.88		0.01	0.21	0.82	0.65	0.69	GGG
IEX	-0.03	0.14	0.78	-0.11	0.01		0.85	-0.18	0.42	0.34	IEX
IR	0.11	0.08	0.81	0.08	0.21	0.85		0.05	0.54	0.46	IR
WTS	0.7	0.57	0.24	0.85	0.82	-0.18	0.05		0.63	0.57	WTS
DCI	0.49	0.63	0.68	0.57	0.65	0.42	0.54	0.63		0.5	DCI
GRC	0.56	0.41	0.44	0.75	0.69	0.34	0.46	0.57	0.5		GRC
	NPO	KAI	ITT	FELE	GGG	IEX	IR	WTS	DCI	GRC

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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

GGG	+ 0.88	FELE
WTS	+ 0.85	FELE
IR	+ 0.85	IEX
FELE	+ 0.82	NPO
WTS	+ 0.82	GGG
IR	+ 0.81	ITT

High negative correlations

WTS	- 0.18	IEX
IEX	- 0.11	FELE
IEX	- 0.03	NPO

Risk-Adjusted Indicators

There is a big difference between Middleby Stock performing well and Middleby Corp 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 Middleby Corp'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
NPO	1.56	(0.02)	(0.09)	2.17	(3.38)	10.90
KAI	1.50	(0.07)	(0.13)	2.63	(3.27)	13.30
ITT	1.28	(0.08)	(0.14)	2.91	(2.75)	7.23
FELE	1.03	(0.05)	(0.13)	2.00	(1.71)	8.22
GGG	0.99	(0.05)	(0.13)	1.60	(2.25)	4.96
IEX	1.14	(0.27)	(0.52)	1.95	(2.43)	12.03
IR	1.29	(0.23)	(0.28)	2.34	(2.57)	10.46
WTS	1.22	0.03	(0.05)	2.23	(2.46)	10.44
DCI	0.98	(0.02)	(0.10)	1.91	(2.15)	4.34
GRC	1.24	(0.10)	(0.19)	2.20	(2.48)	6.72

Middleby Corp Corporate Executives

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

Timothy FitzGerald

CFO, Principal Accounting Officer, VP, CFO of Middleby Marshall Inc and VP of Middleby Marshall Inc

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