Materion Correlations

MTRN Stock

USD 94.20 5.57 6.28%

The current 90-days correlation between Materion and Nexa Resources SA is 0.14 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Materion moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Materion moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Materion Correlation With Market

Weak diversification

The correlation between Materion and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Materion and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Materion Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Materion. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

To learn how to invest in Materion Stock, please use our How to Invest in Materion guide.

Moving together with Materion Stock

0.68	MP	MP Materials Corp Trending	Pair Corr
0.76	ELBM	Electra Battery Materials	Pair Corr
0.68	EMX	EMX Royalty Corp	Pair Corr
0.66	GSM	Ferroglobe PLC	Pair Corr
0.79	LAR	Lithium Argentina Symbol Change	Pair Corr
0.69	SLI	Standard Lithium	Pair Corr
0.64	WWR	Westwater Resources	Pair Corr
0.61	USARW	USA Rare Earth, Symbol Change	Pair Corr
0.71	ABAT	American Battery Tec	Pair Corr
0.72	CRMLW	Critical Metals Corp	Pair Corr

Moving against Materion Stock

0.55	NVA	Nova Minerals Limited	Pair Corr
0.49	USGO	US GoldMining Common	Pair Corr
0.47	USGOW	US GoldMining Warrant	Pair Corr
0.35	NVAWW	Nova Minerals Limited	Pair Corr

Related Correlations Analysis

	NEXA	SKE	FURY	IPX	CMP	MTX	NBHC	IOSP	KWR
NEXA		-0.7	-0.7	-0.77	-0.88	-0.24	-0.57	0.37	-0.63	NEXA
SKE	-0.7		0.92	0.92	0.67	0.16	0.65	-0.46	0.8	SKE
FURY	-0.7	0.92		0.86	0.63	0.15	0.53	-0.46	0.82	FURY
IPX	-0.77	0.92	0.86		0.75	0.17	0.72	-0.4	0.82	IPX
CMP	-0.88	0.67	0.63	0.75		0.51	0.77	-0.26	0.75	CMP
MTX	-0.24	0.16	0.15	0.17	0.51		0.49	0.0	0.4	MTX
NBHC	-0.57	0.65	0.53	0.72	0.77	0.49		0.04	0.81	NBHC
IOSP	0.37	-0.46	-0.46	-0.4	-0.26	0.0	0.04		-0.17	IOSP
KWR	-0.63	0.8	0.82	0.82	0.75	0.4	0.81	-0.17		KWR
	NEXA	SKE	FURY	IPX	CMP	MTX	NBHC	IOSP	KWR

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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

FURY	+ 0.92	SKE
IPX	+ 0.92	SKE
IPX	+ 0.86	FURY
KWR	+ 0.82	FURY
KWR	+ 0.82	IPX
KWR	+ 0.81	NBHC

High negative correlations

CMP	- 0.88	NEXA
IPX	- 0.77	NEXA
FURY	- 0.7	NEXA
SKE	- 0.7	NEXA
KWR	- 0.63	NEXA
NBHC	- 0.57	NEXA

Risk-Adjusted Indicators

There is a big difference between Materion Stock performing well and Materion 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 Materion'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
NEXA	1.43	(0.39)	0.00	(1.36)	0.00	0.00	2.71	(3.56)	10.20
SKE	2.43	0.73	0.15	(0.51)	2.45	(2.65)	5.93	(4.30)	17.31
FURY	2.56	0.52	0.13	38.02	1.92	(4.76)	6.12	(3.85)	22.79
IPX	4.41	1.36	0.30	9.77	3.30	(5.16)	12.46	(6.32)	26.96
CMP	2.38	0.87	0.48	0.97	1.16	(3.13)	5.00	(2.63)	30.47
MTX	1.62	(0.13)	(0.04)	0.02	2.46	(1.65)	3.12	(3.37)	12.14
NBHC	1.24	0.12	0.05	0.29	1.54	(1.40)	2.65	(2.48)	8.68
IOSP	1.08	(0.17)	0.00	(0.08)	0.00	0.00	2.47	(2.76)	6.32
KWR	1.92	0.06	0.05	0.18	1.79	(2.33)	4.98	(3.47)	15.11

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