Matthews International Correlations

MATW Stock

USD 24.99 0.56 2.19%

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

Very weak diversification

The correlation between Matthews International and DJI is 0.51 (i.e., Very 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.

Build AI portfolio with Matthews Stock

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

0.87	KAR	KAR Auction Services	Pair Corr
0.93	MLKN	MillerKnoll	Pair Corr
0.8	CMPR	Cimpress NV	Pair Corr
0.86	J	Jacobs Solutions	Pair Corr
0.88	R	Ryder System Earnings Call This Week	Pair Corr
0.83	DIST	Distoken Acquisition	Pair Corr
0.66	AL	Air Lease	Pair Corr
0.64	AP	Ampco Pittsburgh	Pair Corr
0.81	AZ	A2Z Smart Technologies	Pair Corr
0.8	BA	Boeing	Pair Corr
0.91	BE	Bloom Energy Corp	Pair Corr
0.75	BW	Babcock Wilcox Enter	Pair Corr
0.68	BZ	Kanzhun Ltd ADR	Pair Corr
0.63	CP	Canadian Pacific Railway Earnings Call Next Week	Pair Corr
0.76	CR	Crane Company Earnings Call Next Week	Pair Corr
0.81	CW	Curtiss Wright	Pair Corr
0.82	DY	Dycom Industries	Pair Corr
0.89	GD	General Dynamics Earnings Call This Week	Pair Corr
0.79	GE	GE Aerospace Earnings Call This Week	Pair Corr
0.82	IR	Ingersoll Rand	Pair Corr
0.74	KE	Kimball Electronics	Pair Corr
0.82	PH	Parker Hannifin	Pair Corr

Moving against Matthews Stock

0.59	VIRC	Virco Manufacturing	Pair Corr
0.32	DSS	DSS Inc	Pair Corr
0.78	PC	Premium Catering	Pair Corr
0.77	NL	NL Industries	Pair Corr
0.53	GP	GreenPower Motor	Pair Corr
0.44	MG	Mistras Group	Pair Corr

Related Correlations Analysis

	CODI-PA	BBU	TRC	SPLP	VMI	GFF	CODI	SEB
CODI-PA		-0.69	0.35	0.05	-0.55	-0.12	0.83	-0.06	CODI-PA
BBU	-0.69		0.17	-0.5	0.94	0.62	-0.91	0.64	BBU
TRC	0.35	0.17		-0.66	0.34	0.69	-0.01	0.63	TRC
SPLP	0.05	-0.5	-0.66		-0.58	-0.7	0.42	-0.79	SPLP
VMI	-0.55	0.94	0.34	-0.58		0.75	-0.85	0.71	VMI
GFF	-0.12	0.62	0.69	-0.7	0.75		-0.48	0.73	GFF
CODI	0.83	-0.91	-0.01	0.42	-0.85	-0.48		-0.54	CODI
SEB	-0.06	0.64	0.63	-0.79	0.71	0.73	-0.54		SEB
	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

VMI	+ 0.94	BBU
CODI	+ 0.83	CODI-PA
GFF	+ 0.75	VMI
SEB	+ 0.73	GFF
SEB	+ 0.71	VMI
GFF	+ 0.69	TRC

High negative correlations

CODI	- 0.91	BBU
CODI	- 0.85	VMI
SEB	- 0.79	SPLP
GFF	- 0.7	SPLP
BBU	- 0.69	CODI-PA
SPLP	- 0.66	TRC

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
CODI-PA	2.67	(0.11)	0.00	(0.24)	0.00	0.00	6.39	(6.48)	32.44
BBU	1.60	0.21	0.12	0.30	1.60	(1.90)	4.06	(2.48)	12.53
TRC	1.06	0.09	0.02	0.30	1.50	(1.09)	2.59	(1.99)	9.45
SPLP	1.99	(0.12)	0.00	(0.23)	0.00	0.00	5.70	(4.47)	22.69
VMI	1.17	0.10	0.12	0.22	0.80	(1.53)	3.10	(1.46)	6.21
GFF	1.55	(0.07)	0.01	0.09	1.87	(1.61)	3.12	(3.31)	10.17
CODI	3.55	(1.05)	0.00	(1.01)	0.00	0.00	4.59	(7.41)	65.92
SEB	1.21	0.19	0.10	0.57	1.02	(1.50)	3.05	(1.90)	8.06

Matthews International Corporate Management

David Beck	VP Controller	Profile
Davor Brkovich	Chief Officer	Profile
Ronald Awenowicz	Operations Compliance	Profile
Lee Lane	Group Solutions	Profile

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