Mayville Engineering Correlations
| MEC Stock | USD 13.76 0.23 1.64% |
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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Mayville Engineering moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Mayville Engineering Co moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Average diversification
The correlation between Mayville Engineering Co and NYA is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mayville Engineering Co and NYA in the same portfolio, assuming nothing else is changed.
Mayville |
The ability to find closely correlated positions to Mayville Engineering could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Mayville Engineering when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Mayville Engineering - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Mayville Engineering Co to buy it.
Moving together with Mayville Stock
| 0.79 | TG | Tredegar | PairCorr |
| 0.68 | ESAB | ESAB Corp Financial Report 7th of May 2024 | PairCorr |
| 0.63 | CRS | Carpenter Technology Earnings Call Today | PairCorr |
| 0.65 | MLI | Mueller Industries | PairCorr |
| 0.78 | GIFI | Gulf Island Fabrication | PairCorr |
| 0.76 | GSIH | General Steel Holdings | PairCorr |
| 0.77 | LQMT | Liquidmetal Technologies | PairCorr |
| 0.65 | CMPOW | CompoSecure | PairCorr |
| 0.78 | NWPX | Northwest Pipe | PairCorr |
Moving against Mayville Stock
| 0.63 | SGBX | SG Blocks | PairCorr |
| 0.51 | AP | Ampco Pittsburgh | PairCorr |
| 0.51 | PRLB | Proto Labs Financial Report 3rd of May 2024 | PairCorr |
| 0.77 | AZ | A2Z Smart Technologies | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| NWPX | 1.45 | 0.12 | 0.04 | 2.63 | 1.93 | 2.51 | 11.81 | |||
| HAYN | 0.40 | 0.15 | 0.24 | 2.03 | 0.00 | 0.89 | 7.53 | |||
| RYI | 1.59 | (0.12) | 0.00 | 0.55 | 0.00 | 3.39 | 14.81 | |||
| ATI | 1.53 | 0.39 | 0.17 | (1.96) | 1.64 | 3.83 | 9.85 | |||
| WOR | 1.61 | 0.11 | 0.02 | (0.19) | 1.94 | 3.45 | 12.85 | |||
| IIIN | 1.71 | (0.08) | 0.00 | (1.44) | 0.00 | 2.86 | 12.67 | |||
| CRS | 1.71 | 0.43 | 0.21 | 3.69 | 1.46 | 3.87 | 8.71 | |||
| GIFI | 2.69 | 0.78 | 0.23 | (1.71) | 2.69 | 5.79 | 36.84 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Mayville Engineering without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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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 Butz | Chief Financial Officer, Secretary | Profile | |
| Randall Stille | Chief Operating Officer | Profile | |
| Steve Mance | Chief Operating Officer | Profile |
Already Invested in Mayville Engineering Co?
The danger of trading Mayville Engineering Co is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Mayville Engineering is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Mayville Engineering. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Mayville Engineering is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Mayville Engineering offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Mayville Engineering's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Mayville Engineering Co Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Mayville Engineering Co Stock: 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 tightly coupled with the direction of predictive economic indicators such as signals in income. Note that the Mayville Engineering information on this page should be used as a complementary analysis to other Mayville Engineering's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
Complementary Tools for Mayville Stock analysis
When running Mayville Engineering's price analysis, check to measure Mayville Engineering's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Mayville Engineering is operating at the current time. Most of Mayville Engineering's value examination focuses on studying past and present price action to predict the probability of Mayville Engineering's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Mayville Engineering's price. Additionally, you may evaluate how the addition of Mayville Engineering to your portfolios can decrease your overall portfolio volatility.
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Is Mayville Engineering's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Mayville Engineering. If investors know Mayville will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Mayville Engineering listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.06) | Earnings Share 0.38 | Revenue Per Share 28.823 | Quarterly Revenue Growth 0.156 | Return On Assets 0.0269 |
The market value of Mayville Engineering is measured differently than its book value, which is the value of Mayville that is recorded on the company's balance sheet. Investors also form their own opinion of Mayville Engineering's value that differs from its market value or its book value, called intrinsic value, which is Mayville Engineering's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Mayville Engineering's market value can be influenced by many factors that don't directly affect Mayville Engineering's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Mayville Engineering's value and its price as these two are different measures arrived at by different means. Investors typically determine if Mayville Engineering is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Mayville Engineering's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.