Di Matteo took charge at Villa Park in the summer following the club's relegation from the Premier League.
But the Italian has struggled to transform Villa's form, with the Midlands outfit currently sitting 17th in the Championship table.
Villa picked up their seventh league draw of the season in last night's 1-1 stalemate at Barnsley and have won just once in 10 outings.
And former Villa striker and life-long fan Collymore believes Di Matteo, 46, should be given five more games to save his job.
Villa face Preston, Wolves, Reading, Fulham and local rivals Birmingham in that time - only the former are below Di Matteo's side in the standings.
We're averaging a point a game. If that continues, would have us around 15th in May.No improvement in next 5,pull the rip cord. #UTV https://t.co/vnnUqm8T4n
— Stan Collymore (@StanCollymore) September 27, 2016
I don't want RDM to be sacked, club was a mess, but results have to come. We know that, Dr knows that, Robbie knows that. https://t.co/ZbXnrD8cYH
— Stan Collymore (@StanCollymore) September 27, 2016
“We’re averaging a point a game,” he replied on Twitter when asked about Di Matteo’s future. “If that continues, would have us around 15th in May. No improvement in next five, pull the rip cord.
“I don’t want RDM to be sacked, club was a mess, but result have to come. We know that, Dr (Tony Xia) knows that, Robbie knows that.”