Beacon Roofing Correlations
| BECNDelisted Stock | USD 124.17 0.05 0.04% |
The current 90-days correlation between Beacon Roofing Supply and Armstrong World Industries is 0.1 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Beacon Roofing moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Beacon Roofing Supply moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Beacon Roofing Correlation With Market
Significant diversification
The correlation between Beacon Roofing Supply and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Beacon Roofing Supply and DJI in the same portfolio, assuming nothing else is changed.
Beacon |
Moving together with Beacon Stock
Moving against Beacon Stock
| 0.6 | BE | Bloom Energy Corp | PairCorr |
| 0.58 | BXC | BlueLinx Holdings Downward Rally | PairCorr |
| 0.57 | G | Genpact Limited | PairCorr |
| 0.55 | DSGR | Distribution Solutions | PairCorr |
| 0.49 | WSO | Watsco Inc | PairCorr |
| 0.47 | EVI | EVI Industries | PairCorr |
| 0.44 | DNOW | Now Inc | PairCorr |
| 0.38 | SITE | SiteOne Landscape Supply | PairCorr |
| 0.76 | MG | Mistras Group | PairCorr |
| 0.67 | PN | Skycorp Solar Group Tech Boost | PairCorr |
| 0.64 | EH | Ehang Holdings | PairCorr |
| 0.62 | OP | Oceanpal | PairCorr |
| 0.61 | NX | Quanex Building Products | PairCorr |
| 0.54 | GP | GreenPower Motor | PairCorr |
| 0.54 | HI | Hillenbrand | PairCorr |
| 0.52 | SB | Safe Bulkers | PairCorr |
| 0.48 | LZ | LegalZoom | PairCorr |
| 0.46 | BW | Babcock Wilcox Enter | PairCorr |
| 0.45 | HY | Hyster Yale Materials | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Beacon Stock performing well and Beacon Roofing 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 Beacon Roofing'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 | 2.75 | (0.29) | 0.00 | 1.61 | 0.00 | 5.90 | 18.06 | |||
| ROCK | 2.11 | 0.20 | 0.06 | 0.08 | 2.68 | 4.87 | 21.19 | |||
| AWI | 1.55 | 0.07 | 0.08 | (1.35) | 1.90 | 3.54 | 10.85 | |||
| JBI | 2.45 | 0.09 | 0.06 | (0.84) | 2.98 | 4.70 | 20.60 | |||
| APOG | 1.67 | (0.27) | 0.00 | 15.16 | 0.00 | 3.98 | 20.29 | |||
| AZEK | 1.94 | 0.11 | 0.04 | 0.00 | 2.16 | 2.93 | 21.39 | |||
| TILE | 1.82 | (0.06) | 0.00 | (0.15) | 0.00 | 3.16 | 13.44 | |||
| PGTI | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| TREX | 2.34 | (0.07) | 0.00 | (0.13) | 0.00 | 4.34 | 17.58 |
Beacon Roofing Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Beacon Roofing stock to make a market-neutral strategy. Peer analysis of Beacon Roofing could also be used in its relative valuation, which is a method of valuing Beacon Roofing by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Beacon Roofing Corporate Executives
Elected by the shareholders, the Beacon Roofing's board of directors comprises two types of representatives: Beacon Roofing inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Beacon. The board's role is to monitor Beacon Roofing's management team and ensure that shareholders' interests are well served. Beacon Roofing's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Beacon Roofing's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Prithvi Gandhi | Executive CFO | Profile | |
| Christopher Nelson | Executive CTO | Profile |
Still Interested in Beacon Roofing Supply?
Investing in delisted delisted stocks can be risky, as the stock is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.