Mayville Engineering Correlations

MEC Stock

USD 16.75 0.11 0.66%

The current 90-days correlation between Mayville Engineering and Haynes International is 0.07 (i.e., Significant diversification). 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 correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Mayville Engineering Correlation With Market

Good diversification

The correlation between Mayville Engineering Co and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mayville Engineering Co 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 Mayville Engineering Co. 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.

Moving together with Mayville Stock

0.71

SGBX

SG Blocks

Pair Corr

Moving against Mayville Stock

0.82	GIFI	Gulf Island Fabrication	Pair Corr
0.66	NWPX	Northwest Pipe	Pair Corr
0.62	HAYN	Haynes International	Pair Corr
0.55	RYI	Ryerson Holding Corp	Pair Corr
0.53	MLI	Mueller Industries	Pair Corr
0.5	CRS	Carpenter Technology	Pair Corr
0.43	ESAB	ESAB Corp	Pair Corr
0.76	PRLB	Proto Labs	Pair Corr
0.73	BE	Bloom Energy Corp	Pair Corr
0.67	AL	Air Lease	Pair Corr
0.66	DIST	Distoken Acquisition	Pair Corr
0.57	R	Ryder System	Pair Corr
0.49	AZ	A2Z Smart Technologies	Pair Corr
0.73	HI	Hillenbrand	Pair Corr
0.65	LZ	LegalZoom	Pair Corr
0.63	CR	Crane Company	Pair Corr
0.61	KE	Kimball Electronics	Pair Corr

Related Correlations Analysis

	HAYN	IIIN	GIFI	ESAB	NWPX	AP	RYI	WOR	ATI	CRS
HAYN		-0.25	0.7	0.73	0.76	-0.44	0.76	-0.39	-0.75	0.55	HAYN
IIIN	-0.25		0.05	-0.43	-0.15	0.45	-0.35	0.79	0.41	-0.29	IIIN
GIFI	0.7	0.05		0.73	0.91	-0.3	0.83	-0.22	-0.38	0.79	GIFI
ESAB	0.73	-0.43	0.73		0.89	-0.27	0.94	-0.47	-0.61	0.83	ESAB
NWPX	0.76	-0.15	0.91	0.89		-0.29	0.93	-0.35	-0.48	0.89	NWPX
AP	-0.44	0.45	-0.3	-0.27	-0.29		-0.31	0.64	0.5	-0.23	AP
RYI	0.76	-0.35	0.83	0.94	0.93	-0.31		-0.46	-0.48	0.91	RYI
WOR	-0.39	0.79	-0.22	-0.47	-0.35	0.64	-0.46		0.43	-0.46	WOR
ATI	-0.75	0.41	-0.38	-0.61	-0.48	0.5	-0.48	0.43		-0.24	ATI
CRS	0.55	-0.29	0.79	0.83	0.89	-0.23	0.91	-0.46	-0.24		CRS
	HAYN	IIIN	GIFI	ESAB	NWPX	AP	RYI	WOR	ATI	CRS

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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

RYI	+ 0.94	ESAB
RYI	+ 0.93	NWPX
NWPX	+ 0.91	GIFI
CRS	+ 0.91	RYI
NWPX	+ 0.89	ESAB
CRS	+ 0.89	NWPX

High negative correlations

ATI	- 0.75	HAYN
ATI	- 0.61	ESAB
ATI	- 0.48	RYI
ATI	- 0.48	NWPX
WOR	- 0.47	ESAB
CRS	- 0.46	WOR

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
HAYN	0.22	0.00	(0.28)	0.00	0.24	(0.24)	0.64	(0.43)	1.98
IIIN	1.58	(0.33)	0.00	(0.09)	0.00	0.00	3.00	(4.52)	11.16
GIFI	2.15	0.11	0.08	0.19	1.88	(2.72)	7.10	(3.56)	21.05
ESAB	1.53	0.17	0.14	0.22	1.41	(1.81)	3.42	(2.26)	15.01
NWPX	1.64	0.19	0.17	0.24	1.09	(2.07)	3.47	(1.99)	12.92
AP	3.41	(0.13)	0.00	0.05	3.94	(3.87)	8.67	(7.07)	19.21
RYI	1.97	0.08	0.13	0.14	1.93	(2.35)	4.48	(3.34)	21.43
WOR	1.68	(0.40)	0.00	(0.08)	0.00	0.00	2.60	(4.76)	13.44
ATI	1.52	(0.32)	0.00	(0.06)	0.00	0.00	3.00	(3.73)	13.98
CRS	1.96	0.20	0.14	0.20	2.13	(2.09)	5.44	(2.91)	13.31

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 CPA	Secretary CFO	Profile
Todd Butz	Chief Financial Officer, Secretary	Profile
Randall Stille	Chief Operating Officer	Profile
Steve Mance	Chief Operating Officer	Profile

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