Topbuild Corp Correlations

BLD Stock

USD 465.08 20.24 4.17%

The current 90-days correlation between Topbuild Corp and Sterling Construction is 0.33 (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

Poor diversification

The correlation between Topbuild Corp and DJI is 0.73 (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 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

0.65	3GH	Kaufman Broad SA	Pair Corr
0.7	C38	Crest Nicholson Holdings	Pair Corr
0.63	ALMLB	Miliboo SA	Pair Corr
0.82	CRN	Cairn Homes PLC Earnings Call This Week	Pair Corr
0.84	IIO	Iida Group Holdings	Pair Corr
0.74	TWW	Taylor Wimpey plc Earnings Call This Week	Pair Corr
0.72	UE3	Vilniaus Baldai AB	Pair Corr
0.73	4MI	M/I Homes	Pair Corr
0.63	MS6N	Metrovacesa SA	Pair Corr
0.82	FLXS	Flexsteel Industries	Pair Corr
0.93	BZH	Beazer Homes USA	Pair Corr
0.94	CCS	Century Communities	Pair Corr
0.74	DFH	Dream Finders Homes Earnings Call Today	Pair Corr
0.75	DHI	DR Horton	Pair Corr
0.73	HOV	Hovnanian Enterprises Earnings Call This Week	Pair Corr
0.98	IBP	Installed Building Downward Rally	Pair Corr
0.63	LEG	Leggett Platt	Pair Corr
0.97	MHK	Mohawk Industries	Pair Corr
0.83	MHO	MI Homes	Pair Corr
0.87	MTH	Meritage	Pair Corr
0.82	NTZ	Natuzzi SpA	Pair Corr
0.66	NVR	NVR Inc	Pair Corr
0.9	PHM	PulteGroup	Pair Corr

Moving against Topbuild Stock

0.7	9P7	EMBELLENCE GROUP	Pair Corr
0.56	DXYN	Dixie Group	Pair Corr
0.32	NTBR	Northern Bear Plc	Pair Corr
0.79	5RO	ROCHE BOBOIS SA	Pair Corr
0.67	GAP	Gale Pacific	Pair Corr
0.66	3JS	JS GL LIFESTYLE	Pair Corr
0.43	ULTP	Ultimate Products Plc	Pair Corr

Related Correlations Analysis

	STRL	BLDR	STN	OC	HII	ERJ	MLI	WCC	MAS	WMS
STRL		0.35	-0.25	0.76	0.69	0.31	0.27	0.83	0.8	0.88	STRL
BLDR	0.35		0.51	0.73	0.62	0.04	0.59	0.67	0.64	0.55	BLDR
STN	-0.25	0.51		0.04	0.12	-0.11	0.46	0.1	-0.16	-0.18	STN
OC	0.76	0.73	0.04		0.8	0.49	0.48	0.86	0.95	0.9	OC
HII	0.69	0.62	0.12	0.8		0.55	0.79	0.78	0.79	0.7	HII
ERJ	0.31	0.04	-0.11	0.49	0.55		0.38	0.3	0.44	0.34	ERJ
MLI	0.27	0.59	0.46	0.48	0.79	0.38		0.53	0.37	0.26	MLI
WCC	0.83	0.67	0.1	0.86	0.78	0.3	0.53		0.79	0.81	WCC
MAS	0.8	0.64	-0.16	0.95	0.79	0.44	0.37	0.79		0.93	MAS
WMS	0.88	0.55	-0.18	0.9	0.7	0.34	0.26	0.81	0.93		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

MAS	+ 0.95	OC
WMS	+ 0.93	MAS
WMS	+ 0.9	OC
WMS	+ 0.88	STRL
WCC	+ 0.86	OC
WCC	+ 0.83	STRL

High negative correlations

STN	- 0.25	STRL
WMS	- 0.18	STN
MAS	- 0.16	STN
ERJ	- 0.11	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	2.85	0.37	0.11	0.32	3.59	(3.05)	5.77	(6.88)	19.82
BLDR	2.35	(0.08)	0.02	0.06	2.33	(3.25)	5.94	(4.84)	17.03
STN	1.23	(0.22)	0.00	(0.06)	0.00	0.00	2.06	(2.37)	14.41
OC	1.54	0.20	0.16	0.22	1.26	(1.82)	4.56	(2.49)	9.87
HII	1.93	0.41	0.15	0.39	2.36	(2.05)	4.34	(3.03)	16.77
ERJ	1.64	0.13	0.02	0.78	2.08	(1.65)	4.08	(3.91)	9.21
MLI	1.38	0.20	0.04	1.90	2.72	(1.36)	2.26	(1.66)	13.77
WCC	1.82	0.08	0.07	0.14	2.07	(1.94)	4.21	(3.53)	11.11
MAS	1.53	0.18	0.14	0.24	1.24	(1.98)	3.81	(2.15)	10.83
WMS	1.35	0.23	0.14	0.50	1.02	(1.57)	3.31	(1.85)	9.24

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