Meritage Correlations

MTH Stock

USD 78.82 2.06 2.55%

The current 90-days correlation between Meritage and TRI Pointe Homes is 0.82 (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

Weak diversification

The correlation between Meritage and DJI is 0.36 (i.e., 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.

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 estimate.

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

Moving together with Meritage Stock

0.95	BC	Brunswick Earnings Call Today	Pair Corr
0.8	UA	Under Armour C Earnings Call This Week	Pair Corr
0.65	VMAR	Vision Marine Techno	Pair Corr
0.76	EZGO	EZGO Technologies	Pair Corr
0.94	BZH	Beazer Homes USA Earnings Call Today	Pair Corr
0.94	CCS	Century Communities	Pair Corr
0.96	DFH	Dream Finders Homes	Pair Corr
0.93	DHI	DR Horton	Pair Corr
0.72	DTC	Solo Brands	Pair Corr
0.9	HAS	Hasbro Inc	Pair Corr
0.98	HOV	Hovnanian Enterprises	Pair Corr
0.72	HWH	HWH International	Pair Corr
0.9	IBP	Installed Building	Pair Corr
0.96	KBH	KB Home	Pair Corr
0.67	MAT	Mattel Inc Earnings Call This Week	Pair Corr
0.96	MHO	MI Homes Downward Rally	Pair Corr
0.82	MPX	Marine Products	Pair Corr
0.61	NKE	Nike Inc Aggressive Push	Pair Corr
0.87	PII	Polaris Industries	Pair Corr

Moving against Meritage Stock

0.86	VNCE	Vince Holding Corp Trending	Pair Corr
0.84	VUZI	Vuzix Corp Cmn	Pair Corr
0.72	AS	Amer Sports,	Pair Corr
0.68	FORD	Forward Industries Earnings Call This Week	Pair Corr
0.59	RL	Ralph Lauren Corp Earnings Call This Week	Pair Corr
0.47	DOOO	BRP Inc	Pair Corr
0.47	FOSL	Fossil Group	Pair Corr
0.64	REE	Ree Automotive Holding	Pair Corr
0.46	OXM	Oxford Industries	Pair Corr

Related Correlations Analysis

	TPH	MHO	BZH	CCS	TMHC	LGIH	HOV	KBH
TPH		0.97	0.98	0.92	0.92	0.97	0.97	0.96	TPH
MHO	0.97		0.96	0.94	0.89	0.98	0.96	0.95	MHO
BZH	0.98	0.96		0.89	0.9	0.96	0.95	0.94	BZH
CCS	0.92	0.94	0.89		0.88	0.94	0.94	0.97	CCS
TMHC	0.92	0.89	0.9	0.88		0.91	0.91	0.94	TMHC
LGIH	0.97	0.98	0.96	0.94	0.91		0.96	0.96	LGIH
HOV	0.97	0.96	0.95	0.94	0.91	0.96		0.97	HOV
KBH	0.96	0.95	0.94	0.97	0.94	0.96	0.97		KBH
	TPH	MHO	BZH	CCS	TMHC	LGIH	HOV	KBH

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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
TPH	1.30	(0.27)	0.00	(0.22)	0.00	0.00	3.01	(3.08)	8.28
MHO	1.70	(0.38)	0.00	(0.28)	0.00	0.00	3.22	(4.24)	11.52
BZH	1.71	(0.26)	0.00	(0.24)	0.00	0.00	3.68	(3.54)	13.79
CCS	1.58	(0.30)	0.00	(0.77)	0.00	0.00	2.81	(3.76)	12.02
TMHC	1.38	0.03	(0.02)	0.26	1.66	(1.52)	3.35	(3.35)	9.46
LGIH	1.67	(0.32)	0.00	(0.15)	0.00	0.00	3.92	(3.54)	11.51
HOV	2.25	(0.50)	0.00	(0.26)	0.00	0.00	4.35	(5.89)	15.26
KBH	1.49	(0.21)	0.00	(0.62)	0.00	0.00	2.91	(3.69)	11.61

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC