Eagle Materials Correlations

EXP Stock

USD 216.20 4.75 2.25%

The current 90-days correlation between Eagle Materials and Gerdau SA ADR is 0.39 (i.e., Weak 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

Very weak diversification

The correlation between Eagle Materials and DJI is 0.49 (i.e., Very 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.

Build AI portfolio with Eagle Stock

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 discontinued.

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

Moving together with Eagle Stock

0.76	VMC	Vulcan Materials	Pair Corr
0.61	PCTTW	PureCycle Technologies	Pair Corr

Moving against Eagle Stock

0.67	CASXF	Casa Minerals	Pair Corr
0.53	002671	Shandong Longquan	Pair Corr
0.45	CX	Cemex SAB de	Pair Corr
0.39	FTV	Fortive Corp	Pair Corr
0.31	ZTLLF	Zonetail	Pair Corr
0.78	CICOY	COSCO SHIPPING Holdings	Pair Corr
0.74	694308HY6	US694308HY69	Pair Corr
0.65	TMSNY	Temenos Group AG	Pair Corr
0.6	LCDX	Caliber Imaging Diag	Pair Corr
0.52	NAUFF	NevGold Corp	Pair Corr
0.48	PLTK	Playtika Holding Corp	Pair Corr
0.43	LUMN	Lumen Technologies	Pair Corr
0.43	DGWPF	Drgerwerk AG	Pair Corr
0.42	ARVN	Arvinas	Pair Corr
0.42	DB	Deutsche Bank AG	Pair Corr
0.4	NMRD	Nemaura Medical	Pair Corr
0.36	CTOWY	China TowerLimited	Pair Corr
0.35	ADAMI	New York Mortgage Symbol Change	Pair Corr
0.31	STLFF	Stillfront Group	Pair Corr

Related Correlations Analysis

	GGB	EMN	TX	NEU	IAG	ESI	AXTA	HBM	LPX	CMC
GGB		0.42	0.82	-0.72	0.68	0.15	0.83	0.67	-0.54	0.78	GGB
EMN	0.42		0.6	-0.2	0.55	0.36	0.67	0.67	0.31	0.71	EMN
TX	0.82	0.6		-0.59	0.84	0.05	0.8	0.81	-0.24	0.91	TX
NEU	-0.72	-0.2	-0.59		-0.49	0.32	-0.73	-0.57	0.31	-0.64	NEU
IAG	0.68	0.55	0.84	-0.49		-0.12	0.76	0.86	-0.24	0.85	IAG
ESI	0.15	0.36	0.05	0.32	-0.12		-0.04	0.03	0.14	0.05	ESI
AXTA	0.83	0.67	0.8	-0.73	0.76	-0.04		0.78	-0.26	0.87	AXTA
HBM	0.67	0.67	0.81	-0.57	0.86	0.03	0.78		-0.01	0.88	HBM
LPX	-0.54	0.31	-0.24	0.31	-0.24	0.14	-0.26	-0.01		-0.07	LPX
CMC	0.78	0.71	0.91	-0.64	0.85	0.05	0.87	0.88	-0.07		CMC
	GGB	EMN	TX	NEU	IAG	ESI	AXTA	HBM	LPX	CMC

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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

CMC	+ 0.91	TX
CMC	+ 0.88	HBM
CMC	+ 0.87	AXTA
HBM	+ 0.86	IAG
CMC	+ 0.85	IAG
IAG	+ 0.84	TX

High negative correlations

AXTA	- 0.73	NEU
NEU	- 0.72	GGB
CMC	- 0.64	NEU
NEU	- 0.59	TX
HBM	- 0.57	NEU
LPX	- 0.54	GGB

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
GGB	1.49	0.22	0.13	0.23	1.62	(1.77)	2.89	(2.65)	11.29
EMN	1.58	(0.01)	0.01	0.07	1.86	(1.68)	3.89	(3.60)	9.51
TX	1.31	0.10	0.07	0.16	1.40	(1.53)	3.19	(2.64)	8.99
NEU	1.24	(0.32)	0.00	(0.28)	0.00	0.00	1.86	(2.91)	12.62
IAG	2.64	0.28	0.08	0.24	3.71	(2.69)	5.49	(6.42)	17.52
ESI	1.69	(0.10)	0.00	0.03	2.17	(1.77)	3.80	(3.68)	10.67
AXTA	1.28	0.18	0.10	0.26	1.41	(1.27)	2.69	(2.76)	7.97
HBM	2.34	0.38	0.15	0.25	2.77	(2.55)	5.78	(5.81)	15.79
LPX	1.37	(0.19)	0.00	(0.07)	0.00	0.00	3.41	(2.57)	11.80
CMC	1.71	0.18	0.14	0.16	1.69	(2.21)	3.75	(3.24)	10.99

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