Topbuild Corp Correlations

BLD Stock

USD 473.28 8.96 1.86%

The current 90-days correlation between Topbuild Corp and Sterling Construction is 0.26 (i.e., Modest 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

Poor diversification

The correlation between Topbuild Corp and DJI is 0.67 (i.e., Poor 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.

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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 state.

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

Moving together with Topbuild Stock

0.64	CRN	Cairn Homes PLC	Pair Corr
0.67	603816	Jason Furniture	Pair Corr
0.75	BZH	Beazer Homes USA Earnings Call Today	Pair Corr
0.88	CCS	Century Communities	Pair Corr
0.65	DHI	DR Horton	Pair Corr
0.72	MHO	MI Homes Earnings Call This Week	Pair Corr
0.84	TPH	TRI Pointe Homes	Pair Corr
0.93	GRBK	Green Brick Partners	Pair Corr
0.69	HOFT	Hooker Furniture	Pair Corr
0.64	603216	Mengtian Home Group	Pair Corr
0.71	LGIH	LGI Homes	Pair Corr
0.63	603219	Ningbo Fujia Industrial	Pair Corr
0.77	RCH	Richelieu Hardware	Pair Corr
0.76	TMHC	Taylor Morn Home	Pair Corr
0.78	603833	Oppein Home Group	Pair Corr

Moving against Topbuild Stock

0.39	603818	Qumei Furniture Group	Pair Corr
0.37	603551	AUPU Home Style	Pair Corr
0.33	002761	Zhejiang Construction	Pair Corr
0.54	603610	Keeson Technology Corp	Pair Corr
0.42	CHCI	Comstock Holding Com	Pair Corr
0.34	BRK-A	Berkshire Hathaway	Pair Corr

Related Correlations Analysis

	STRL	BLDR	STN	OC	HII	ERJ	MLI	WCC	MAS	WMS
STRL		0.34	0.84	0.21	-0.12	-0.57	-0.18	-0.08	0.02	-0.37	STRL
BLDR	0.34		0.38	0.82	0.56	-0.05	0.52	0.33	0.88	0.46	BLDR
STN	0.84	0.38		0.3	-0.19	-0.71	-0.31	-0.36	0.11	-0.46	STN
OC	0.21	0.82	0.3		0.49	-0.2	0.47	0.14	0.86	0.21	OC
HII	-0.12	0.56	-0.19	0.49		0.44	0.97	0.71	0.71	0.72	HII
ERJ	-0.57	-0.05	-0.71	-0.2	0.44		0.52	0.55	0.1	0.64	ERJ
MLI	-0.18	0.52	-0.31	0.47	0.97	0.52		0.76	0.69	0.76	MLI
WCC	-0.08	0.33	-0.36	0.14	0.71	0.55	0.76		0.32	0.71	WCC
MAS	0.02	0.88	0.11	0.86	0.71	0.1	0.69	0.32		0.58	MAS
WMS	-0.37	0.46	-0.46	0.21	0.72	0.64	0.76	0.71	0.58		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	+ 0.97	HII
MAS	+ 0.88	BLDR
MAS	+ 0.86	OC
STN	+ 0.84	STRL
OC	+ 0.82	BLDR
WCC	+ 0.76	MLI

High negative correlations

ERJ	- 0.71	STN
ERJ	- 0.57	STRL
WMS	- 0.46	STN
WMS	- 0.37	STRL
WCC	- 0.36	STN
MLI	- 0.31	STN

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	2.91	0.01	0.02	0.07	4.36	(2.90)	6.61	(6.91)	21.66
BLDR	2.12	(0.20)	0.00	(0.03)	0.00	0.00	5.94	(3.40)	15.38
STN	1.08	(0.23)	0.00	(0.14)	0.00	0.00	1.96	(2.27)	8.69
OC	1.50	(0.17)	0.00	(0.05)	0.00	0.00	4.03	(2.95)	11.49
HII	1.64	0.52	0.31	0.50	1.20	(1.88)	4.34	(2.56)	10.50
ERJ	1.64	0.16	0.04	(0.50)	2.08	(1.65)	4.08	(3.91)	9.21
MLI	0.94	0.32	0.28	0.40	0.82	(1.12)	2.06	(1.65)	4.16
WCC	1.78	0.34	0.18	0.25	1.81	(1.97)	3.54	(3.42)	16.49
MAS	1.30	(0.15)	0.00	(0.04)	0.00	0.00	3.51	(2.29)	7.82
WMS	1.32	0.05	0.03	0.11	1.23	(1.52)	3.31	(2.33)	11.59

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