Beacon Roofing Correlations

BECN Stock

USD 108.58 0.36 0.33%

The current 90-days correlation between Beacon Roofing Supply and Armstrong World Industries is 0.41 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Beacon Roofing moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Beacon Roofing Supply moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Beacon Roofing Correlation With Market

Very weak diversification

The correlation between Beacon Roofing Supply and DJI is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Beacon Roofing Supply and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Beacon Stock

0.68	DNOW	Now Inc	Pair Corr
0.78	DXPE	DXP Enterprises	Pair Corr
0.86	FAST	Fastenal Fiscal Year End 16th of January 2025	Pair Corr
0.9	AIT	Applied Industrial	Pair Corr
0.88	BXC	BlueLinx Holdings	Pair Corr
0.87	GWW	WW Grainger	Pair Corr
0.9	WCC	WESCO International	Pair Corr
0.8	WSO	Watsco Inc	Pair Corr
0.65	WCC-PA	WESCO International	Pair Corr
0.71	SMSMY	Sims Metal Management	Pair Corr
0.9	REZI	Resideo Technologies	Pair Corr
0.63	TITN	Titan Machinery Earnings Call This Week	Pair Corr
0.83	B	Barnes Group	Pair Corr
0.75	G	Genpact Limited	Pair Corr
0.77	J	Jacobs Solutions	Pair Corr
0.87	R	Ryder System	Pair Corr
0.75	AL	Air Lease	Pair Corr
0.86	AZ	A2Z Smart Technologies	Pair Corr
0.62	BE	Bloom Energy Corp Trending	Pair Corr
0.83	BR	Broadridge Financial	Pair Corr
0.71	BV	BrightView Holdings	Pair Corr
0.63	BW	Babcock Wilcox Enter	Pair Corr
0.87	CR	Crane Company	Pair Corr
0.85	CW	Curtiss Wright	Pair Corr
0.68	EH	Ehang Holdings	Pair Corr

Moving against Beacon Stock

0.55	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.54	GIC	Global Industrial	Pair Corr
0.53	TRNS	Transcat	Pair Corr
0.42	AP	Ampco Pittsburgh	Pair Corr
0.84	CP	Canadian Pacific Railway	Pair Corr
0.59	ST	Sensata Technologies	Pair Corr
0.57	SB	Safe Bulkers	Pair Corr
0.56	RR	Richtech Robotics Class	Pair Corr
0.53	MG	Mistras Group	Pair Corr
0.47	FA	First Advantage Corp	Pair Corr
0.42	GP	GreenPower Motor	Pair Corr

Related Correlations Analysis

	NX	ROCK	AWI	JBI	APOG	AZEK	TILE	PGTI	TREX
NX		0.22	0.79	-0.53	0.78	0.42	0.64	0.72	0.51	NX
ROCK	0.22		0.45	-0.33	0.42	0.75	0.5	0.01	0.66	ROCK
AWI	0.79	0.45		-0.82	0.93	0.68	0.86	0.73	0.67	AWI
JBI	-0.53	-0.33	-0.82		-0.68	-0.55	-0.78	-0.58	-0.73	JBI
APOG	0.78	0.42	0.93	-0.68		0.56	0.72	0.82	0.54	APOG
AZEK	0.42	0.75	0.68	-0.55	0.56		0.6	0.21	0.8	AZEK
TILE	0.64	0.5	0.86	-0.78	0.72	0.6		0.43	0.65	TILE
PGTI	0.72	0.01	0.73	-0.58	0.82	0.21	0.43		0.32	PGTI
TREX	0.51	0.66	0.67	-0.73	0.54	0.8	0.65	0.32		TREX
	NX	ROCK	AWI	JBI	APOG	AZEK	TILE	PGTI	TREX

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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

APOG	+ 0.93	AWI
TILE	+ 0.86	AWI
PGTI	+ 0.82	APOG
TREX	+ 0.8	AZEK
AWI	+ 0.79	NX
APOG	+ 0.78	NX

High negative correlations

JBI	- 0.82	AWI
TILE	- 0.78	JBI
TREX	- 0.73	JBI
APOG	- 0.68	JBI
PGTI	- 0.58	JBI
AZEK	- 0.55	JBI

Risk-Adjusted Indicators

There is a big difference between Beacon Stock performing well and Beacon Roofing 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 Beacon Roofing'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
NX	1.98	0.10	0.03	0.21	2.56	(2.28)	4.43	(2.75)	32.55
ROCK	1.46	(0.03)	0.01	0.07	1.62	(1.66)	2.88	(2.19)	8.68
AWI	0.93	0.28	0.26	0.35	0.56	(1.04)	2.35	(1.38)	5.22
JBI	2.06	(0.71)	0.00	(0.26)	0.00	0.00	3.00	(4.22)	33.52
APOG	1.93	0.24	0.19	0.19	1.57	(2.46)	3.73	(2.93)	28.75
AZEK	1.34	0.18	0.10	0.29	1.44	(1.44)	3.56	(2.33)	9.05
TILE	2.03	0.50	0.32	0.33	1.28	(2.47)	3.44	(2.83)	34.53
PGTI	1.33	0.10	0.02	1.07	1.38	(1.58)	2.49	(2.71)	9.02
TREX	1.54	0.03	0.02	0.12	1.86	(1.67)	3.40	(2.93)	10.25

Beacon Roofing Corporate Management

Samuel Guzman	VP Officer	Profile
Sean McDevitt	Executive Officer	Profile
Jonathan Bennett	Executive Officer	Profile
Birte Schwarzenfeld	Senior Solutions	Profile

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