Topbuild Corp Correlations

BLD Stock

USD 428.13 1.40 0.33%

The current 90-days correlation between Topbuild Corp and Zhejiang Entive Smart is -0.04 (i.e., Good diversification). The correlation of Topbuild Corp 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.

Topbuild Corp Correlation With Market

Very weak diversification

The correlation between Topbuild Corp and DJI is 0.47 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Topbuild Corp and DJI in the same portfolio, assuming nothing else is changed.

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Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Topbuild Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in industry.

For information on how to trade Topbuild Stock refer to our How to Trade Topbuild Stock guide.

Moving together with Topbuild Stock

0.7

IBP

Installed Building

Pair Corr

Moving against Topbuild Stock

0.64	300911	Zhejiang Entive Smart	Pair Corr
0.42	FLXS	Flexsteel Industries	Pair Corr
0.41	DFH	Dream Finders Homes	Pair Corr
0.48	GAP	Gale Pacific	Pair Corr
0.38	NTZ	Natuzzi SpA	Pair Corr
0.35	NVR	NVR Inc	Pair Corr
0.33	GRBK	Green Brick Partners	Pair Corr
0.32	MHO	MI Homes	Pair Corr

Related Correlations Analysis

	300911	DXYN	002572	CRN	BRSHF	000921	603816	001323	NTBR	FLXS
300911		0.68	-0.51	-0.51	0.23	-0.27	-0.08	0.57	-0.69	0.67	300911
DXYN	0.68		-0.8	-0.72	0.34	-0.17	-0.24	0.63	-0.81	0.04	DXYN
002572	-0.51	-0.8		0.69	-0.19	0.48	0.42	-0.27	0.75	0.04	002572
CRN	-0.51	-0.72	0.69		-0.27	0.3	0.26	-0.61	0.67	0.11	CRN
BRSHF	0.23	0.34	-0.19	-0.27		-0.02	-0.14	0.39	-0.37	-0.01	BRSHF
000921	-0.27	-0.17	0.48	0.3	-0.02		0.27	0.08	0.5	-0.19	000921
603816	-0.08	-0.24	0.42	0.26	-0.14	0.27		0.14	0.28	0.02	603816
001323	0.57	0.63	-0.27	-0.61	0.39	0.08	0.14		-0.42	0.08	001323
NTBR	-0.69	-0.81	0.75	0.67	-0.37	0.5	0.28	-0.42		-0.13	NTBR
FLXS	0.67	0.04	0.04	0.11	-0.01	-0.19	0.02	0.08	-0.13		FLXS
	300911	DXYN	002572	CRN	BRSHF	000921	603816	001323	NTBR	FLXS

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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

NTBR	+ 0.75	002572
CRN	+ 0.69	002572
DXYN	+ 0.68	300911
FLXS	+ 0.67	300911
NTBR	+ 0.67	CRN
001323	+ 0.63	DXYN

High negative correlations

NTBR	- 0.81	DXYN
002572	- 0.8	DXYN
CRN	- 0.72	DXYN
NTBR	- 0.69	300911
001323	- 0.61	CRN
CRN	- 0.51	300911

Risk-Adjusted Indicators

There is a big difference between Topbuild Stock performing well and Topbuild Corp 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 Topbuild Corp'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
300911	2.48	(0.77)	0.00	(1.00)	0.00	0.00	3.82	(4.95)	25.90
DXYN	3.65	(0.42)	0.00	(0.59)	0.00	0.00	6.15	(10.14)	25.71
002572	1.06	(0.01)	(0.05)	0.00	1.12	(1.21)	2.32	(1.84)	6.76
CRN	1.02	0.09	0.02	0.84	1.36	(1.06)	2.29	(1.78)	6.77
BRSHF	84.48	37.52	0.66	9.11	34.58	(191.67)	300.00	(76.92)	895.00
000921	1.14	(0.02)	(0.03)	0.03	1.24	(1.29)	2.56	(1.92)	11.04
603816	1.29	0.03	(0.01)	0.22	1.53	(1.34)	2.37	(2.54)	7.51
001323	0.89	(0.16)	0.00	(0.86)	0.00	0.00	1.32	(2.01)	5.74
NTBR	2.02	0.37	0.10	0.46	2.41	(3.22)	6.94	(4.48)	21.72
FLXS	1.81	(0.32)	0.00	(0.17)	0.00	0.00	3.95	(3.52)	13.72

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