Meritage Correlations

MTH Stock

USD 76.15 2.10 2.68%

The current 90-days correlation between Meritage and KB Home is 0.83 (i.e., Very poor diversification). The correlation of Meritage 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.

Meritage Correlation With Market

Very weak diversification

The correlation between Meritage and DJI is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Meritage and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Meritage Stock

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

For more detail on how to invest in Meritage Stock please use our How to Invest in Meritage guide.

Moving together with Meritage Stock

0.9	BLD	Topbuild Corp	Pair Corr
0.77	BZH	Beazer Homes USA	Pair Corr
0.73	CCS	Century Communities	Pair Corr
0.87	DHI	DR Horton Earnings Call Tomorrow	Pair Corr
0.61	IBP	Installed Building	Pair Corr
0.64	KBH	KB Home	Pair Corr
0.86	MHO	MI Homes	Pair Corr
0.74	NVR	NVR Inc	Pair Corr
0.92	PHM	PulteGroup	Pair Corr
0.79	TOL	Toll Brothers	Pair Corr
0.96	TPH	TRI Pointe Homes	Pair Corr
0.93	GRBK	Green Brick Partners	Pair Corr

Moving against Meritage Stock

0.34	DXYN	Dixie Group	Pair Corr
0.56	GAP	Gale Pacific	Pair Corr
0.31	002761	Zhejiang Construction	Pair Corr

Related Correlations Analysis

	KBH	CVCO	MHO	SKY	TMHC	GPK	ABG	EAT	TPH	GRBK
KBH		-0.12	0.63	-0.14	0.67	0.25	0.2	-0.12	0.64	0.51	KBH
CVCO	-0.12		0.49	0.9	0.51	-0.24	0.61	0.78	0.44	0.57	CVCO
MHO	0.63	0.49		0.43	0.94	0.14	0.6	0.48	0.84	0.82	MHO
SKY	-0.14	0.9	0.43		0.47	-0.47	0.4	0.81	0.4	0.37	SKY
TMHC	0.67	0.51	0.94	0.47		0.0	0.57	0.48	0.91	0.85	TMHC
GPK	0.25	-0.24	0.14	-0.47	0.0		0.05	-0.4	-0.04	0.13	GPK
ABG	0.2	0.61	0.6	0.4	0.57	0.05		0.47	0.54	0.65	ABG
EAT	-0.12	0.78	0.48	0.81	0.48	-0.4	0.47		0.44	0.43	EAT
TPH	0.64	0.44	0.84	0.4	0.91	-0.04	0.54	0.44		0.89	TPH
GRBK	0.51	0.57	0.82	0.37	0.85	0.13	0.65	0.43	0.89		GRBK
	KBH	CVCO	MHO	SKY	TMHC	GPK	ABG	EAT	TPH	GRBK

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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

TMHC	+ 0.94	MHO
TPH	+ 0.91	TMHC
SKY	+ 0.9	CVCO
GRBK	+ 0.89	TPH
GRBK	+ 0.85	TMHC
TPH	+ 0.84	MHO

High negative correlations

GPK	- 0.47	SKY
EAT	- 0.4	GPK
GPK	- 0.24	CVCO
SKY	- 0.14	KBH
EAT	- 0.12	KBH
CVCO	- 0.12	KBH

Risk-Adjusted Indicators

There is a big difference between Meritage Stock performing well and Meritage 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 Meritage'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
KBH	1.41	(0.11)	(0.03)	0.02	1.90	(1.58)	4.30	(2.48)	15.09
CVCO	1.61	0.36	0.09	(0.68)	2.06	(1.69)	4.83	(2.50)	13.22
MHO	1.41	(0.09)	(0.03)	0.02	1.96	(1.45)	4.51	(3.54)	10.17
SKY	1.91	0.44	0.13	(0.62)	2.01	(2.37)	4.86	(3.89)	14.49
TMHC	1.24	(0.10)	(0.05)	0.01	1.45	(1.39)	3.92	(2.73)	10.34
GPK	1.54	(0.22)	0.00	(0.64)	0.00	0.00	3.59	(3.20)	17.54
ABG	1.36	(0.11)	(0.05)	0.01	1.58	(1.57)	3.11	(2.56)	8.25
EAT	2.29	0.33	0.07	(1.00)	2.51	(2.61)	6.16	(4.67)	12.88
TPH	1.31	0.02	0.04	0.10	1.38	(1.47)	5.16	(2.34)	10.25
GRBK	1.36	0.04	0.05	0.12	1.34	(1.66)	4.56	(2.01)	8.73

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