Trex Correlations

TREX Stock

USD 70.34 1.46 2.12%

The current 90-days correlation between Trex Company and Quanex Building Products is 0.25 (i.e., Modest diversification). The correlation of Trex 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Trex Correlation With Market

Weak diversification

The correlation between Trex Company 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 Trex Company and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Trex Company. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with Trex Stock

0.67	AWI	Armstrong World Indu	Pair Corr
0.64	GMS	GMS Inc	Pair Corr
0.62	JCI	Johnson Controls Int Fiscal Year End 10th of December 2024	Pair Corr
0.7	LII	Lennox International	Pair Corr
0.62	LPX	Louisiana Pacific	Pair Corr
0.63	PPIH	Perma Pipe Internati	Pair Corr
0.66	ROCK	Gibraltar Industries	Pair Corr
0.69	AAON	AAON Inc	Pair Corr
0.8	AZEK	Azek Company Fiscal Year End 26th of November 2024	Pair Corr
0.65	TILE	Interface	Pair Corr
0.69	R	Ryder System	Pair Corr
0.66	AL	Air Lease	Pair Corr

Moving against Trex Stock

0.73	JBI	Janus International	Pair Corr
0.53	AEHL	Antelope Enterprise	Pair Corr
0.5	APT	Alpha Pro Tech	Pair Corr
0.46	ASPN	Aspen Aerogels	Pair Corr
0.39	JELD	Jeld Wen Holding	Pair Corr
0.63	MG	Mistras Group	Pair Corr
0.52	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.46	CSTE	Caesarstone	Pair Corr
0.43	HY	Hyster Yale Materials	Pair Corr
0.33	CP	Canadian Pacific Railway	Pair Corr
0.31	FA	First Advantage Corp	Pair Corr

Related Correlations Analysis

	NX	AWI	ROCK	APOG	MAS	OC	JCI	BLDR	LII	FBIN
NX		0.79	0.22	0.78	0.19	0.82	0.7	0.09	0.64	0.01	NX
AWI	0.79		0.45	0.93	0.13	0.93	0.94	0.13	0.79	-0.11	AWI
ROCK	0.22	0.45		0.42	0.22	0.39	0.53	0.48	0.53	0.02	ROCK
APOG	0.78	0.93	0.42		0.29	0.92	0.89	0.24	0.74	0.05	APOG
MAS	0.19	0.13	0.22	0.29		0.34	0.2	0.86	0.43	0.92	MAS
OC	0.82	0.93	0.39	0.92	0.34		0.91	0.33	0.83	0.09	OC
JCI	0.7	0.94	0.53	0.89	0.2	0.91		0.26	0.81	-0.06	JCI
BLDR	0.09	0.13	0.48	0.24	0.86	0.33	0.26		0.49	0.76	BLDR
LII	0.64	0.79	0.53	0.74	0.43	0.83	0.81	0.49		0.26	LII
FBIN	0.01	-0.11	0.02	0.05	0.92	0.09	-0.06	0.76	0.26		FBIN
	NX	AWI	ROCK	APOG	MAS	OC	JCI	BLDR	LII	FBIN

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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

JCI	+ 0.94	AWI
APOG	+ 0.93	AWI
OC	+ 0.93	AWI
OC	+ 0.92	APOG
FBIN	+ 0.92	MAS
JCI	+ 0.91	OC

High negative correlations

FBIN	- 0.11	AWI
FBIN	- 0.06	JCI

Risk-Adjusted Indicators

There is a big difference between Trex Stock performing well and Trex 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 Trex'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
NX	1.98	0.10	0.03	0.21	2.56	(2.28)	4.43	(2.75)	32.55
AWI	0.93	0.28	0.26	0.35	0.56	(1.04)	2.35	(1.38)	5.22
ROCK	1.46	(0.03)	0.01	0.07	1.62	(1.66)	2.88	(2.19)	8.68
APOG	1.93	0.24	0.19	0.19	1.57	(2.46)	3.73	(2.93)	28.75
MAS	0.89	(0.03)	(0.06)	0.03	1.15	(0.88)	1.64	(1.94)	6.15
OC	1.39	0.20	0.12	0.25	1.48	(1.51)	3.38	(2.45)	10.42
JCI	1.03	0.12	0.16	0.16	0.83	(1.26)	2.49	(1.66)	10.49
BLDR	1.66	0.03	0.01	0.12	2.14	(1.78)	3.76	(3.07)	15.89
LII	1.15	0.09	0.03	0.27	1.44	(1.23)	2.59	(2.28)	7.45
FBIN	1.30	(0.10)	0.00	(0.05)	0.00	0.00	2.50	(2.72)	10.07

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