GMS Correlations

GMS Stock

USD 101.70 2.60 2.62%

The current 90-days correlation between GMS Inc and Apogee Enterprises is 0.39 (i.e., Weak diversification). The correlation of GMS 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.

GMS Correlation With Market

Very weak diversification

The correlation between GMS Inc and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding GMS Inc and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in GMS Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with GMS Stock

0.79	NX	Quanex Building Products Fiscal Year End 12th of December 2024	Pair Corr
0.89	OC	Owens Corning	Pair Corr
0.78	TT	Trane Technologies plc	Pair Corr
0.87	AWI	Armstrong World Indu	Pair Corr
0.86	JCI	Johnson Controls Int Fiscal Year End 10th of December 2024	Pair Corr
0.74	LII	Lennox International	Pair Corr
0.84	LMB	Limbach Holdings	Pair Corr
0.8	LPX	Louisiana Pacific	Pair Corr
0.74	PPIH	Perma Pipe Internati	Pair Corr
0.86	AAON	AAON Inc	Pair Corr
0.84	APOG	Apogee Enterprises	Pair Corr
0.71	AZEK	Azek Company Fiscal Year End 26th of November 2024	Pair Corr
0.78	SPXC	SPX Corp	Pair Corr
0.67	TREX	Trex Company	Pair Corr
0.69	B	Barnes Group	Pair Corr
0.77	G	Genpact Limited	Pair Corr
0.69	J	Jacobs Solutions	Pair Corr
0.91	R	Ryder System	Pair Corr
0.81	AL	Air Lease	Pair Corr

Moving against GMS Stock

0.59	ILAG	Intelligent Living	Pair Corr
0.58	JBI	Janus International	Pair Corr
0.54	JELD	Jeld Wen Holding	Pair Corr
0.37	AFIIQ	Armstrong Flooring	Pair Corr
0.34	APT	Alpha Pro Tech	Pair Corr
0.6	ASPN	Aspen Aerogels	Pair Corr
0.57	AEHL	Antelope Enterprise	Pair Corr
0.55	CSTE	Caesarstone	Pair Corr
0.55	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr

Related Correlations Analysis

	NX	APOG	AZEK	BECN	JBI	ROCK	TILE	JELD	PPIH
NX		0.79	0.45	0.78	-0.55	0.22	0.65	-0.48	0.67	NX
APOG	0.79		0.56	0.88	-0.68	0.41	0.73	-0.49	0.85	APOG
AZEK	0.45	0.56		0.59	-0.58	0.69	0.65	-0.33	0.77	AZEK
BECN	0.78	0.88	0.59		-0.7	0.35	0.82	-0.67	0.73	BECN
JBI	-0.55	-0.68	-0.58	-0.7		-0.32	-0.8	0.74	-0.7	JBI
ROCK	0.22	0.41	0.69	0.35	-0.32		0.48	-0.2	0.53	ROCK
TILE	0.65	0.73	0.65	0.82	-0.8	0.48		-0.83	0.68	TILE
JELD	-0.48	-0.49	-0.33	-0.67	0.74	-0.2	-0.83		-0.39	JELD
PPIH	0.67	0.85	0.77	0.73	-0.7	0.53	0.68	-0.39		PPIH
	NX	APOG	AZEK	BECN	JBI	ROCK	TILE	JELD	PPIH

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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

BECN	+ 0.88	APOG
PPIH	+ 0.85	APOG
TILE	+ 0.82	BECN
APOG	+ 0.79	NX
BECN	+ 0.78	NX
PPIH	+ 0.77	AZEK

High negative correlations

JELD	- 0.83	TILE
TILE	- 0.8	JBI
PPIH	- 0.7	JBI
JBI	- 0.7	BECN
JBI	- 0.68	APOG
JELD	- 0.67	BECN

Risk-Adjusted Indicators

There is a big difference between GMS Stock performing well and GMS 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 GMS'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
NX	2.01	0.13	0.04	0.27	2.55	(2.30)	4.43	(2.75)	32.55
APOG	1.91	0.18	0.17	0.20	1.59	(2.37)	3.73	(2.93)	28.75
AZEK	1.36	0.18	0.10	0.30	1.42	(1.46)	3.48	(2.33)	9.05
BECN	1.77	0.23	0.15	0.29	1.51	(2.08)	3.74	(2.18)	11.44
JBI	2.08	(0.74)	0.00	(0.23)	0.00	0.00	3.06	(4.22)	33.52
ROCK	1.45	(0.05)	0.00	0.08	1.63	(1.62)	2.88	(2.19)	8.68
TILE	2.02	0.39	0.27	0.32	1.29	(2.48)	3.44	(2.83)	34.53
JELD	2.43	(0.45)	0.00	(0.16)	0.00	0.00	3.93	(5.43)	37.15
PPIH	3.22	0.70	0.28	0.51	2.26	(3.98)	9.82	(4.43)	35.55

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