Builders FirstSource Correlations

Builders FirstSource Correlation With Market

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.

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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 + 0.88 ATKR ATKR + 0.84 CARR QXO + 0.74 ATKR OC + 0.73 TREX QXO + 0.7 CARR QXO + 0.69 BLD

High negative correlations    QXO - 0.68 AAON BLD - 0.59 AAON ATKR - 0.37 AAON CARR - 0.1 AAON OC - 0.01 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.