Eagle Materials Correlations

EXP Stock

USD 259.47 5.71 2.25%

The current 90-days correlation between Eagle Materials and Summit Materials is 0.14 (i.e., Average diversification). The correlation of Eagle Materials 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Eagle Materials Correlation With Market

Weak diversification

The correlation between Eagle Materials and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eagle Materials and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Eagle Materials. 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.

To learn how to invest in Eagle Stock, please use our How to Invest in Eagle Materials guide.

Moving together with Eagle Stock

0.93	BCC	Boise Cascad Llc	Pair Corr
0.63	CRH	CRH PLC ADR	Pair Corr
0.63	JHX	James Hardie Industries	Pair Corr
0.97	MLM	Martin Marietta Materials	Pair Corr
0.81	VMC	Vulcan Materials	Pair Corr
0.79	X	United States Steel Sell-off Trend	Pair Corr
0.9	AA	Alcoa Corp	Pair Corr
0.65	CC	Chemours	Pair Corr
0.93	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.63	EU	enCore Energy Corp	Pair Corr
0.8	IE	Ivanhoe Electric	Pair Corr
0.77	MT	ArcelorMittal SA ADR Earnings Call This Week	Pair Corr
0.93	NX	Quanex Building Products	Pair Corr
0.78	OC	Owens Corning	Pair Corr
0.64	OR	Osisko Gold Ro	Pair Corr
0.91	RS	Reliance Steel Aluminum	Pair Corr
0.72	SA	Seabridge Gold	Pair Corr
0.76	TT	Trane Technologies plc Earnings Call This Week	Pair Corr

Moving against Eagle Stock

0.47	LOMA	Loma Negra Compania	Pair Corr
0.42	ZJK	ZJK Industrial Co,	Pair Corr
0.4	SUM	Summit Materials	Pair Corr
0.34	WLKP	Westlake Chemical	Pair Corr

Related Correlations Analysis

	VMC	CRH	SUM	CX	MLM	USLM	CPAC	JHX	MCEM	LOMA
VMC		0.89	0.13	0.07	0.81	0.65	0.61	0.69	0.01	-0.09	VMC
CRH	0.89		0.32	0.18	0.61	0.66	0.6	0.77	0.27	0.16	CRH
SUM	0.13	0.32		0.22	-0.41	0.31	0.03	0.04	0.81	0.74	SUM
CX	0.07	0.18	0.22		-0.13	0.04	-0.15	0.05	0.24	0.34	CX
MLM	0.81	0.61	-0.41	-0.13		0.38	0.48	0.55	-0.5	-0.56	MLM
USLM	0.65	0.66	0.31	0.04	0.38		0.31	0.54	0.28	0.42	USLM
CPAC	0.61	0.6	0.03	-0.15	0.48	0.31		0.48	-0.06	-0.03	CPAC
JHX	0.69	0.77	0.04	0.05	0.55	0.54	0.48		0.18	0.03	JHX
MCEM	0.01	0.27	0.81	0.24	-0.5	0.28	-0.06	0.18		0.74	MCEM
LOMA	-0.09	0.16	0.74	0.34	-0.56	0.42	-0.03	0.03	0.74		LOMA
	VMC	CRH	SUM	CX	MLM	USLM	CPAC	JHX	MCEM	LOMA

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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

CRH	+ 0.89	VMC
MLM	+ 0.81	VMC
MCEM	+ 0.81	SUM
JHX	+ 0.77	CRH
LOMA	+ 0.74	SUM
LOMA	+ 0.74	MCEM

High negative correlations

LOMA	- 0.56	MLM
MCEM	- 0.5	MLM
MLM	- 0.41	SUM
CPAC	- 0.15	CX
MLM	- 0.13	CX
LOMA	- 0.09	VMC

Risk-Adjusted Indicators

There is a big difference between Eagle Stock performing well and Eagle Materials 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 Eagle Materials' 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
VMC	1.07	0.08	0.03	0.25	1.00	(1.26)	2.02	(1.75)	9.37
CRH	0.91	0.13	0.03	1.53	1.20	(0.87)	2.26	(2.08)	6.77
SUM	0.94	0.39	0.31	9.77	0.15	(1.02)	4.18	(1.76)	9.88
CX	1.80	(0.02)	(0.02)	0.06	2.58	(1.85)	3.64	(3.85)	14.50
MLM	1.00	(0.10)	0.00	(0.14)	0.00	0.00	2.13	(1.96)	8.83
USLM	2.21	0.07	0.04	0.14	2.40	(2.55)	5.99	(3.86)	21.09
CPAC	1.50	0.14	0.01	(0.30)	1.68	(1.71)	3.81	(2.90)	9.37
JHX	1.52	0.00	(0.04)	0.08	1.57	(1.89)	3.53	(2.75)	12.31
MCEM	1.01	0.30	0.10	(1.03)	1.26	(1.17)	3.11	(1.44)	14.48
LOMA	2.54	0.59	0.16	7.72	2.69	(2.96)	6.49	(5.62)	18.71

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