BlueLinx Holdings Correlations

BXC Stock

USD 123.36 2.06 1.70%

The current 90-days correlation between BlueLinx Holdings and DXP Enterprises is 0.46 (i.e., Very weak diversification). The correlation of BlueLinx Holdings 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.

BlueLinx Holdings Correlation With Market

Very weak diversification

The correlation between BlueLinx Holdings and DJI is 0.56 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BlueLinx Holdings 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 BlueLinx Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in interest.

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

Moving together with BlueLinx Stock

0.75	DNOW	Now Inc	Pair Corr
0.62	DSGR	Distribution Solutions	Pair Corr
0.85	DXPE	DXP Enterprises	Pair Corr
0.88	FAST	Fastenal Fiscal Year End 16th of January 2025	Pair Corr
0.95	AIT	Applied Industrial	Pair Corr
0.68	EVI	EVI Industries	Pair Corr
0.9	GWW	WW Grainger	Pair Corr
0.68	MSM	MSC Industrial Direct	Pair Corr
0.94	WCC	WESCO International	Pair Corr
0.91	WSO	Watsco Inc	Pair Corr
0.8	WCC-PA	WESCO International	Pair Corr
0.72	SMSMY	Sims Metal Management	Pair Corr
0.86	REZI	Resideo Technologies	Pair Corr
0.88	BECN	Beacon Roofing Supply	Pair Corr
0.72	B	Barnes Group	Pair Corr
0.77	G	Genpact Limited	Pair Corr
0.72	J	Jacobs Solutions	Pair Corr
0.96	R	Ryder System	Pair Corr
0.8	AL	Air Lease	Pair Corr
0.79	AZ	A2Z Smart Technologies	Pair Corr
0.8	BR	Broadridge Financial	Pair Corr
0.74	BV	BrightView Holdings	Pair Corr
0.93	CR	Crane Company	Pair Corr
0.86	CW	Curtiss Wright	Pair Corr

Moving against BlueLinx Stock

0.73	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.61	GIC	Global Industrial	Pair Corr
0.54	TRNS	Transcat	Pair Corr
0.67	RR	Richtech Robotics Class	Pair Corr
0.67	ST	Sensata Technologies	Pair Corr
0.64	MG	Mistras Group	Pair Corr
0.62	CP	Canadian Pacific Railway	Pair Corr
0.46	SB	Safe Bulkers	Pair Corr
0.36	HY	Hyster Yale Materials	Pair Corr
0.33	OP	Oceanpal	Pair Corr
0.31	FA	First Advantage Corp	Pair Corr

Related Correlations Analysis

	DXPE	DSGR	CNM	AIT	FERG	MSM	GWW	SITE
DXPE		0.34	-0.03	0.83	0.45	0.66	0.73	0.3	DXPE
DSGR	0.34		0.27	0.64	0.33	0.61	0.68	0.66	DSGR
CNM	-0.03	0.27		-0.03	0.68	0.21	-0.05	0.17	CNM
AIT	0.83	0.64	-0.03		0.3	0.65	0.97	0.45	AIT
FERG	0.45	0.33	0.68	0.3		0.55	0.23	0.31	FERG
MSM	0.66	0.61	0.21	0.65	0.55		0.57	0.77	MSM
GWW	0.73	0.68	-0.05	0.97	0.23	0.57		0.43	GWW
SITE	0.3	0.66	0.17	0.45	0.31	0.77	0.43		SITE
	DXPE	DSGR	CNM	AIT	FERG	MSM	GWW	SITE

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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

GWW	+ 0.97	AIT
AIT	+ 0.83	DXPE
SITE	+ 0.77	MSM
GWW	+ 0.73	DXPE
GWW	+ 0.68	DSGR
FERG	+ 0.68	CNM

High negative correlations

GWW	- 0.05	CNM
AIT	- 0.03	CNM
CNM	- 0.03	DXPE

Risk-Adjusted Indicators

There is a big difference between BlueLinx Stock performing well and BlueLinx Holdings 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 BlueLinx Holdings' 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
DXPE	2.00	0.37	0.23	0.27	1.65	(2.71)	3.89	(2.97)	22.06
DSGR	1.65	(0.11)	0.01	0.04	1.94	(1.99)	3.54	(2.89)	18.72
CNM	1.94	(0.26)	0.00	(0.12)	0.00	0.00	3.49	(3.55)	18.95
AIT	1.38	0.26	0.32	0.20	0.75	(1.84)	3.17	(1.63)	15.15
FERG	1.33	(0.03)	0.00	(0.99)	0.00	0.00	2.46	(2.70)	10.59
MSM	1.48	(0.15)	(0.04)	0.01	1.72	(1.60)	3.00	(2.68)	10.99
GWW	1.03	0.19	0.23	0.22	0.66	(1.26)	2.52	(1.45)	8.66
SITE	1.71	(0.07)	(0.02)	0.04	1.95	(2.01)	3.84	(3.24)	11.76

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