Caesarstone Correlations

CSTE Stock

USD 1.68 0.01 0.60%

The current 90-days correlation between Caesarstone and Janus International Group is 0.2 (i.e., Modest diversification). The correlation of Caesarstone 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.

Caesarstone Correlation With Market

Significant diversification

The correlation between Caesarstone and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Caesarstone 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 Caesarstone. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

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

Moving together with Caesarstone Stock

0.78	JELD	Jeld Wen Holding	Pair Corr
0.61	AIRJ	Montana Technologies	Pair Corr
0.91	STAI	ScanTech AI Systems	Pair Corr

Moving against Caesarstone Stock

0.95	TT	Trane Technologies plc	Pair Corr
0.94	JCI	Johnson Controls Int	Pair Corr
0.88	JBI	Janus International	Pair Corr
0.87	AWI	Armstrong World Indu	Pair Corr
0.84	ROCK	Gibraltar Industries	Pair Corr
0.83	ARLO	Arlo Technologies	Pair Corr
0.77	APT	Alpha Pro Tech	Pair Corr
0.71	ASPN	Aspen Aerogels Buyout Trend	Pair Corr
0.66	SWIM	Latham Group	Pair Corr
0.62	NX	Quanex Building Products	Pair Corr
0.62	LPX	Louisiana Pacific	Pair Corr
0.61	AZEK	Azek Company	Pair Corr
0.57	MAS	Masco Earnings Call This Week	Pair Corr
0.54	CSL	Carlisle Companies Earnings Call This Week	Pair Corr
0.53	LII	Lennox International Earnings Call This Week	Pair Corr
0.53	PPIH	Perma Pipe Internati	Pair Corr
0.52	ILAG	Intelligent Living	Pair Corr
0.5	GMS	GMS Inc Sell-off Trend	Pair Corr
0.49	WMS	Advanced Drainage Systems	Pair Corr
0.95	AL	Air Lease	Pair Corr
0.93	GE	GE Aerospace Earnings Call This Week	Pair Corr
0.91	BA	Boeing	Pair Corr
0.91	BZ	Kanzhun Ltd ADR	Pair Corr
0.9	DY	Dycom Industries	Pair Corr
0.89	AP	Ampco Pittsburgh	Pair Corr
0.89	CW	Curtiss Wright	Pair Corr
0.87	CARR	Carrier Global Corp	Pair Corr
0.87	CP	Canadian Pacific Railway	Pair Corr
0.87	DE	Deere Company	Pair Corr
0.86	CR	Crane Company	Pair Corr
0.84	FA	First Advantage Corp	Pair Corr

Related Correlations Analysis

	JBI	NX	GMS	SWIM	ITRN	DORM	BCPC	TILE
JBI		0.83	0.63	0.85	0.89	0.84	0.35	0.94	JBI
NX	0.83		0.71	0.81	0.7	0.57	0.13	0.89	NX
GMS	0.63	0.71		0.73	0.73	0.22	-0.31	0.72	GMS
SWIM	0.85	0.81	0.73		0.83	0.63	0.13	0.88	SWIM
ITRN	0.89	0.7	0.73	0.83		0.67	0.22	0.85	ITRN
DORM	0.84	0.57	0.22	0.63	0.67		0.67	0.77	DORM
BCPC	0.35	0.13	-0.31	0.13	0.22	0.67		0.29	BCPC
TILE	0.94	0.89	0.72	0.88	0.85	0.77	0.29		TILE
	JBI	NX	GMS	SWIM	ITRN	DORM	BCPC	TILE

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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

TILE	+ 0.94	JBI
ITRN	+ 0.89	JBI
TILE	+ 0.89	NX
TILE	+ 0.88	SWIM
SWIM	+ 0.85	JBI
TILE	+ 0.85	ITRN

High negative correlations

BCPC

- 0.31

GMS

Risk-Adjusted Indicators

There is a big difference between Caesarstone Stock performing well and Caesarstone 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 Caesarstone'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
JBI	2.06	0.33	0.16	0.36	2.00	(2.38)	4.60	(3.67)	15.09
NX	2.64	(0.17)	0.01	0.06	2.52	(3.39)	6.46	(4.36)	15.60
GMS	2.00	0.54	0.35	0.65	0.93	(2.39)	4.56	(2.61)	25.00
SWIM	2.87	0.08	0.07	0.16	3.53	(2.97)	6.37	(5.83)	23.59
ITRN	1.20	0.14	0.07	0.29	1.39	(1.29)	2.87	(2.43)	10.06
DORM	1.25	(0.02)	(0.01)	0.11	1.69	(1.20)	2.14	(2.78)	10.18
BCPC	0.89	(0.20)	0.00	(0.17)	0.00	0.00	1.84	(2.35)	5.53
TILE	1.43	(0.02)	0.01	0.11	1.82	(1.51)	2.87	(3.12)	8.98

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