Topbuild Corp Correlations

BLD Stock

USD 452.50 2.63 0.58%

The current 90-days correlation between Topbuild Corp and Yuexiu Transport Infrastructure is -0.05 (i.e., Good diversification). The correlation of Topbuild Corp 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.

Topbuild Corp Correlation With Market

Very weak diversification

The correlation between Topbuild Corp and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Topbuild Corp and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Topbuild Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Topbuild Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

For information on how to trade Topbuild Stock refer to our How to Trade Topbuild Stock guide.

Moving against Topbuild Stock

0.6	MUFG	Mitsubishi UFJ Financial Sell-off Trend	Pair Corr
0.45	HOFT	Hooker Furniture Earnings Call This Week	Pair Corr
0.39	FLXS	Flexsteel Industries	Pair Corr
0.39	GBOOF	Grupo Financiero Banorte	Pair Corr
0.32	TMHC	Taylor Morn Home	Pair Corr
0.32	MBFJF	Mitsubishi UFJ Financial	Pair Corr
0.35	DUO	Fangdd Network Group	Pair Corr

Related Correlations Analysis

	GZITF	ACLS	AZMCF	CTYMF	UBER	PT	EORBF	BNTX
GZITF		-0.34	-0.73	-0.54	-0.6	0.22	0.0	0.03	GZITF
ACLS	-0.34		-0.11	0.54	0.6	0.0	0.0	-0.32	ACLS
AZMCF	-0.73	-0.11		0.3	0.36	-0.27	0.0	0.2	AZMCF
CTYMF	-0.54	0.54	0.3		0.34	-0.21	0.0	-0.3	CTYMF
UBER	-0.6	0.6	0.36	0.34		-0.05	0.0	0.08	UBER
PT	0.22	0.0	-0.27	-0.21	-0.05		0.0	-0.2	PT
EORBF	0.0	0.0	0.0	0.0	0.0	0.0		0.0	EORBF
BNTX	0.03	-0.32	0.2	-0.3	0.08	-0.2	0.0		BNTX
	GZITF	ACLS	AZMCF	CTYMF	UBER	PT	EORBF	BNTX

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

UBER	+ 0.6	ACLS
CTYMF	+ 0.54	ACLS
UBER	+ 0.36	AZMCF
UBER	+ 0.34	CTYMF
CTYMF	+ 0.3	AZMCF
PT	+ 0.22	GZITF

High negative correlations

AZMCF	- 0.73	GZITF
UBER	- 0.6	GZITF
CTYMF	- 0.54	GZITF
ACLS	- 0.34	GZITF
BNTX	- 0.32	ACLS
BNTX	- 0.3	CTYMF

Risk-Adjusted Indicators

There is a big difference between Topbuild Stock performing well and Topbuild Corp 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 Topbuild Corp'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
GZITF	0.05	0.02	0.00	(0.47)	0.00	0.00	0.00	0.00	1.75
ACLS	2.08	0.05	(0.01)	(2.26)	2.42	(2.34)	4.89	(4.60)	12.51
AZMCF	3.22	(0.39)	0.00	(0.48)	0.00	0.00	7.84	(6.82)	20.59
CTYMF	2.61	0.06	0.00	(0.41)	3.48	(4.85)	7.98	(7.37)	30.87
UBER	1.45	(0.17)	0.00	23.38	0.00	0.00	3.34	(3.30)	10.91
PT	2.87	0.04	(0.01)	(0.03)	3.12	(4.14)	6.19	(5.10)	26.59
EORBF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BNTX	1.67	(0.01)	(0.03)	(0.09)	2.67	(1.72)	3.28	(4.40)	17.37

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