Builders FirstSource Correlations

BLDR Stock

USD 136.46 3.67 2.76%

The current 90-days correlation between Builders FirstSource and AAON Inc is 0.26 (i.e., Modest diversification). The correlation of Builders FirstSource 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Builders FirstSource Correlation With Market

Very weak diversification

The correlation between Builders FirstSource and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Builders FirstSource 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 Builders FirstSource. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

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

Moving together with Builders Stock

0.62	NX	Quanex Building Products	Pair Corr
0.78	OC	Owens Corning	Pair Corr
0.76	FBIN	Fortune Brands Innov	Pair Corr
0.69	CSL	Carlisle Companies	Pair Corr
0.86	GFF	Griffon Earnings Call This Week	Pair Corr
0.77	GMS	GMS Inc	Pair Corr
0.7	LII	Lennox International	Pair Corr
0.68	MAS	Masco	Pair Corr
0.65	PPIH	Perma Pipe Internati	Pair Corr
0.63	AIRJW	Montana Technologies	Pair Corr
0.83	AEHL	Antelope Enterprise	Pair Corr
0.78	APOG	Apogee Enterprises	Pair Corr
0.61	ASPN	Aspen Aerogels Sell-off Trend	Pair Corr
0.61	AZEK	Azek Company	Pair Corr
0.72	SWIM	Latham Group	Pair Corr
0.76	TREX	Trex Company	Pair Corr
0.71	J	Jacobs Solutions	Pair Corr
0.76	R	Ryder System Earnings Call This Week	Pair Corr

Moving against Builders Stock

0.43

AAON

AAON Inc Earnings Call This Week

Pair Corr

Related Correlations Analysis

	AAON	CARR	LPX	TREX	OC	ATKR	BLD	QXO
AAON		-0.14	0.49	0.05	-0.02	-0.42	-0.6	-0.73	AAON
CARR	-0.14		0.49	0.54	0.22	0.83	0.62	0.68	CARR
LPX	0.49	0.49		0.29	0.17	0.29	0.02	0.04	LPX
TREX	0.05	0.54	0.29		0.73	0.68	0.69	0.16	TREX
OC	-0.02	0.22	0.17	0.73		0.47	0.58	0.02	OC
ATKR	-0.42	0.83	0.29	0.68	0.47		0.9	0.73	ATKR
BLD	-0.6	0.62	0.02	0.69	0.58	0.9		0.69	BLD
QXO	-0.73	0.68	0.04	0.16	0.02	0.73	0.69		QXO
	AAON	CARR	LPX	TREX	OC	ATKR	BLD	QXO

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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

BLD	+ 0.9	ATKR
ATKR	+ 0.83	CARR
OC	+ 0.73	TREX
QXO	+ 0.73	ATKR
BLD	+ 0.69	TREX
QXO	+ 0.69	BLD

High negative correlations

QXO	- 0.73	AAON
BLD	- 0.6	AAON
ATKR	- 0.42	AAON
CARR	- 0.14	AAON
OC	- 0.02	AAON

Risk-Adjusted Indicators

There is a big difference between Builders Stock performing well and Builders FirstSource 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 Builders FirstSource'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
AAON	2.14	(0.24)	(0.02)	0.06	3.44	(2.20)	4.61	(3.85)	22.08
CARR	1.25	0.24	0.22	0.40	0.82	(1.51)	2.92	(1.73)	15.41
LPX	1.46	(0.14)	(0.04)	0.09	1.89	(1.46)	3.29	(2.88)	10.84
TREX	1.95	(0.07)	0.06	0.16	2.10	(2.13)	6.07	(3.76)	12.88
OC	1.64	(0.24)	(0.03)	0.07	2.23	(1.67)	4.19	(3.06)	12.76
ATKR	1.55	0.07	0.11	0.25	1.27	(1.86)	3.77	(2.16)	8.83
BLD	1.89	0.09	0.11	0.25	1.87	(2.03)	5.70	(3.40)	10.78
QXO	2.66	1.01	0.25	(1.36)	2.21	(3.24)	7.87	(4.09)	20.66

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