Topbuild Corp Correlations

BLD Stock

USD 442.64 11.19 2.59%

The current 90-days correlation between Topbuild Corp and Sterling Construction is 0.34 (i.e., Weak 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

Good diversification

The correlation between Topbuild Corp and DJI is -0.02 (i.e., Good 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.

Build AI portfolio with Topbuild Stock

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 board of governors.

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

Moving together with Topbuild Stock

0.63

GRBK

Green Brick Partners

Pair Corr

Related Correlations Analysis

	STRL	BLDR	STN	OC	HII	ERJ	MLI	WCC	MAS	WMS
STRL		0.51	0.83	0.32	-0.48	-0.41	-0.58	-0.3	0.19	-0.51	STRL
BLDR	0.51		0.76	0.87	-0.66	-0.39	-0.67	-0.69	0.84	-0.46	BLDR
STN	0.83	0.76		0.6	-0.64	-0.46	-0.77	-0.69	0.51	-0.7	STN
OC	0.32	0.87	0.6		-0.4	-0.29	-0.43	-0.66	0.9	-0.48	OC
HII	-0.48	-0.66	-0.64	-0.4		0.56	0.93	0.65	-0.37	0.61	HII
ERJ	-0.41	-0.39	-0.46	-0.29	0.56		0.54	0.28	-0.17	0.44	ERJ
MLI	-0.58	-0.67	-0.77	-0.43	0.93	0.54		0.74	-0.34	0.74	MLI
WCC	-0.3	-0.69	-0.69	-0.66	0.65	0.28	0.74		-0.66	0.71	WCC
MAS	0.19	0.84	0.51	0.9	-0.37	-0.17	-0.34	-0.66		-0.24	MAS
WMS	-0.51	-0.46	-0.7	-0.48	0.61	0.44	0.74	0.71	-0.24		WMS
	STRL	BLDR	STN	OC	HII	ERJ	MLI	WCC	MAS	WMS

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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

MLI	+ 0.93	HII
MAS	+ 0.9	OC
OC	+ 0.87	BLDR
MAS	+ 0.84	BLDR
STN	+ 0.83	STRL
STN	+ 0.76	BLDR

High negative correlations

MLI	- 0.77	STN
WMS	- 0.7	STN
WCC	- 0.69	STN
WCC	- 0.69	BLDR
MLI	- 0.67	BLDR
MAS	- 0.66	WCC

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
STRL	3.09	0.03	0.00	0.03	0.00	0.00	6.61	(7.45)	21.66
BLDR	1.86	(0.26)	0.00	(0.56)	0.00	0.00	4.35	(3.40)	11.92
STN	1.11	(0.22)	0.00	(0.61)	0.00	0.00	1.76	(2.27)	8.69
OC	1.39	(0.24)	0.00	(0.86)	0.00	0.00	2.49	(2.84)	12.01
HII	1.54	0.39	0.21	4.43	1.23	(1.80)	3.93	(2.39)	10.50
ERJ	1.53	0.21	0.06	(0.40)	1.72	(1.77)	4.02	(2.78)	10.26
MLI	1.01	0.29	0.19	1.35	0.93	(1.22)	2.06	(1.81)	6.26
WCC	1.98	0.37	0.13	2.37	2.11	(2.25)	4.21	(3.47)	16.49
MAS	1.19	(0.12)	0.00	(0.67)	0.00	0.00	2.59	(2.16)	7.94
WMS	1.38	0.13	0.06	0.43	1.36	(1.61)	3.31	(2.46)	11.59

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