Meritage Correlations

MTH Stock

USD 177.68 0.55 0.31%

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

Weak diversification

The correlation between Meritage and DJI is 0.31 (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

0.79	HAS	Hasbro Inc	Pair Corr
0.82	MHO	MI Homes	Pair Corr
0.75	JOUT	Johnson Outdoors Fiscal Year End 13th of December 2024	Pair Corr
0.74	RCKY	Rocky Brands	Pair Corr
0.61	GV	Visionary Education	Pair Corr
0.66	DBI	Designer Brands	Pair Corr
0.69	DIT	AMCON Distributing	Pair Corr

Moving against Meritage Stock

0.59	LB	LandBridge Company	Pair Corr
0.57	EEIQ	Elite Education Group	Pair Corr
0.44	JAKK	JAKKS Pacific	Pair Corr
0.36	WWW	Wolverine World Wide	Pair Corr
0.36	JZ	Jianzhi Education	Pair Corr
0.64	NWL	Newell Brands	Pair Corr
0.55	LRN	Stride Inc	Pair Corr
0.51	UTI	Universal Technical Upward Rally	Pair Corr
0.5	BTCTW	BTC Digital	Pair Corr
0.47	BBW	Build A Bear Earnings Call This Week	Pair Corr
0.45	DAO	Youdao Inc	Pair Corr
0.4	GHC	Graham Holdings	Pair Corr
0.37	ELA	Envela Corp	Pair Corr
0.32	QSG	QuantaSing Group	Pair Corr

Related Correlations Analysis

	TPH	MHO	BZH	CCS	TMHC	LGIH	HOV	KBH
TPH		0.83	0.54	0.88	0.16	0.84	0.79	0.84	TPH
MHO	0.83		0.74	0.72	0.53	0.89	0.51	0.77	MHO
BZH	0.54	0.74		0.35	0.75	0.71	0.22	0.6	BZH
CCS	0.88	0.72	0.35		-0.05	0.84	0.88	0.86	CCS
TMHC	0.16	0.53	0.75	-0.05		0.4	-0.12	0.3	TMHC
LGIH	0.84	0.89	0.71	0.84	0.4		0.68	0.89	LGIH
HOV	0.79	0.51	0.22	0.88	-0.12	0.68		0.84	HOV
KBH	0.84	0.77	0.6	0.86	0.3	0.89	0.84		KBH
	TPH	MHO	BZH	CCS	TMHC	LGIH	HOV	KBH

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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

LGIH	+ 0.89	MHO
KBH	+ 0.89	LGIH
CCS	+ 0.88	TPH
HOV	+ 0.88	CCS
KBH	+ 0.86	CCS
LGIH	+ 0.84	TPH

High negative correlations

HOV	- 0.12	TMHC
TMHC	- 0.05	CCS

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	1.36	(0.09)	(0.05)	0.00	1.76	(1.51)	2.86	(3.19)	10.14
MHO	1.69	(0.01)	0.00	0.08	2.38	(1.64)	3.78	(4.24)	11.78
BZH	1.75	0.06	0.03	0.13	2.10	(1.87)	4.20	(3.93)	12.19
CCS	1.64	(0.16)	0.00	(0.11)	0.00	0.00	3.75	(3.86)	13.05
TMHC	1.41	0.09	0.04	0.22	1.67	(1.57)	3.10	(2.82)	9.89
LGIH	1.69	(0.09)	(0.04)	0.00	1.98	(2.08)	4.12	(3.56)	11.93
HOV	2.46	(0.24)	0.00	(0.19)	0.00	0.00	4.74	(5.89)	23.00
KBH	1.55	(0.11)	0.00	(0.03)	0.00	0.00	3.05	(3.31)	10.30

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