Meritage Correlations

MTH Stock

USD 77.65 0.86 1.10%

The current 90-days correlation between Meritage and KB Home is 0.86 (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 0.56 (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

0.61	CRN	Cairn Homes PLC	Pair Corr
0.77	4MI	M/I Homes	Pair Corr
0.88	BZH	Beazer Homes USA	Pair Corr
0.76	ETD	Ethan Allen Interiors	Pair Corr
0.7	LEG	Leggett Platt	Pair Corr
0.93	MHO	MI Homes	Pair Corr
0.63	SKY	Skyline	Pair Corr
0.97	TPH	TRI Pointe Homes	Pair Corr
0.92	GRBK	Green Brick Partners	Pair Corr
0.75	T86	Tri Pointe Homes	Pair Corr
0.89	LGIH	LGI Homes Earnings Call This Week	Pair Corr
0.65	RCH	Richelieu Hardware	Pair Corr
0.62	OBYCF	Obayashi	Pair Corr

Moving against Meritage Stock

0.47	GLABF	Gemina Laboratories	Pair Corr
0.46	ZTLLF	Zonetail	Pair Corr
0.35	NVNIW	Nvni Group Limited	Pair Corr

Related Correlations Analysis

	KBH	CVCO	MHO	SKY	TMHC	GPK	ABG	EAT	TPH	GRBK
KBH		0.08	0.62	0.23	0.62	0.17	0.09	-0.02	0.56	0.31	KBH
CVCO	0.08		0.23	0.88	0.25	0.31	0.69	0.35	0.34	0.26	CVCO
MHO	0.62	0.23		0.53	0.96	-0.33	0.34	0.62	0.96	0.89	MHO
SKY	0.23	0.88	0.53		0.54	0.04	0.73	0.57	0.62	0.54	SKY
TMHC	0.62	0.25	0.96	0.54		-0.34	0.37	0.61	0.98	0.9	TMHC
GPK	0.17	0.31	-0.33	0.04	-0.34		0.07	-0.51	-0.34	-0.53	GPK
ABG	0.09	0.69	0.34	0.73	0.37	0.07		0.57	0.45	0.36	ABG
EAT	-0.02	0.35	0.62	0.57	0.61	-0.51	0.57		0.67	0.73	EAT
TPH	0.56	0.34	0.96	0.62	0.98	-0.34	0.45	0.67		0.93	TPH
GRBK	0.31	0.26	0.89	0.54	0.9	-0.53	0.36	0.73	0.93		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

TPH	+ 0.98	TMHC
TMHC	+ 0.96	MHO
TPH	+ 0.96	MHO
GRBK	+ 0.93	TPH
GRBK	+ 0.9	TMHC
GRBK	+ 0.89	MHO

High negative correlations

GRBK	- 0.53	GPK
EAT	- 0.51	GPK
TPH	- 0.34	GPK
GPK	- 0.34	TMHC
GPK	- 0.33	MHO
EAT	- 0.02	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	1.63	0.02	0.01	0.10	1.90	(1.96)	4.51	(2.47)	15.09
CVCO	1.96	(0.01)	0.00	0.07	4.46	(1.70)	4.45	(3.02)	25.69
MHO	1.51	0.11	0.07	0.17	1.45	(1.76)	4.51	(2.13)	10.17
SKY	1.91	0.28	0.12	0.42	1.94	(2.19)	4.56	(3.89)	17.78
TMHC	1.38	0.11	0.08	0.19	1.22	(1.75)	3.92	(2.69)	10.34
GPK	1.83	(0.42)	0.00	(0.23)	0.00	0.00	3.59	(3.58)	20.88
ABG	1.57	(0.15)	0.00	(0.01)	0.00	0.00	3.65	(3.10)	12.64
EAT	2.16	0.65	0.27	0.78	1.84	(2.51)	6.16	(4.22)	12.88
TPH	1.46	0.12	0.09	0.17	1.34	(1.68)	5.16	(2.65)	11.56
GRBK	1.50	0.22	0.17	0.25	1.21	(1.92)	4.56	(1.97)	10.63

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