Jeld Wen Correlations

JELD Stock  USD 9.50  0.15  1.60%   
The current 90-days correlation between Jeld Wen Holding and Quanex Building Products is 0.31 (i.e., Weak diversification). The correlation of Jeld Wen 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.

Jeld Wen Correlation With Market

Very good diversification

The correlation between Jeld Wen Holding and DJI is -0.26 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Jeld Wen Holding 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 Jeld Wen Holding. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with Jeld Stock

  0.66NX Quanex Building ProductsPairCorr
  0.95FBIN Fortune Brands InnovPairCorr
  0.73CSL Carlisle CompaniesPairCorr
  0.76JBI Janus International Buyout TrendPairCorr
  0.87MAS MascoPairCorr
  0.89WMS Advanced Drainage SystemsPairCorr
  0.64ILAG Intelligent LivingPairCorr
  0.84AEHL Antelope EnterprisePairCorr
  0.92ASPN Aspen AerogelsPairCorr
  0.79BLDR Builders FirstSourcePairCorr
  0.79CARR Carrier Global Corp Sell-off TrendPairCorr

Moving against Jeld Stock

  0.77AIRJW Montana Technologies Symbol ChangePairCorr
  0.58LMB Limbach HoldingsPairCorr
  0.51PPIH Perma Pipe InternatiPairCorr
  0.49AAON AAON IncPairCorr
  0.48JCI Johnson Controls IntPairCorr
  0.35LII Lennox InternationalPairCorr
  0.34LPX Louisiana PacificPairCorr
  0.31AWI Armstrong World InduPairCorr
  0.85AZ A2Z Smart TechnologiesPairCorr
  0.77B Barnes Group Earnings Call This WeekPairCorr
  0.76BE Bloom Energy CorpPairCorr
  0.72AIRJ Montana Technologies Symbol ChangePairCorr
  0.66G Genpact LimitedPairCorr
  0.6AL Air LeasePairCorr
  0.6BR Broadridge FinancialPairCorr
  0.59R Ryder SystemPairCorr
  0.54AP Ampco PittsburghPairCorr
  0.54BA Boeing Fiscal Year End 29th of January 2025 PairCorr
  0.47AZEK Azek CompanyPairCorr
  0.35TREX Trex CompanyPairCorr

Related Correlations Analysis

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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   
NXROCK
APOGROCK
APOGNX
AWITILE
TILEPPIH
AWIPPIH
  
High negative correlations   
JBITILE
PGTINX
AWIJBI
PGTIROCK
JBIPPIH
APOGPGTI

Risk-Adjusted Indicators

There is a big difference between Jeld Stock performing well and Jeld Wen 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 Jeld Wen'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.