Builders FirstSource Correlations

BLDR Stock

USD 114.36 2.97 2.53%

The current 90-days correlation between Builders FirstSource and Azek Company is 0.54 (i.e., Very weak diversification). The correlation of Builders FirstSource 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.

Builders FirstSource Correlation With Market

Very weak diversification

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

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

To learn how to invest in Builders Stock, please use our How to Invest in Builders FirstSource guide.

Moving together with Builders Stock

0.71	OC	Owens Corning	Pair Corr
0.86	FBIN	Fortune Brands Innov Sell-off Trend	Pair Corr
0.71	MAS	Masco Sell-off Trend	Pair Corr
0.81	JELD	Jeld Wen Holding	Pair Corr
0.68	AIRJW	Montana Technologies	Pair Corr
0.8	AEHL	Antelope Enterprise	Pair Corr
0.71	AIRJ	Montana Technologies	Pair Corr
0.76	APOG	Apogee Enterprises	Pair Corr
0.77	STAI	ScanTech AI Systems	Pair Corr
0.63	G	Genpact Limited	Pair Corr

Moving against Builders Stock

0.62	TT	Trane Technologies plc	Pair Corr
0.56	CSL	Carlisle Companies	Pair Corr
0.54	JCI	Johnson Controls Int	Pair Corr
0.4	AWI	Armstrong World Indu	Pair Corr
0.5	AAON	AAON Inc	Pair Corr
0.49	SPXC	SPX Corp	Pair Corr
0.43	AZEK	Azek Company Sell-off Trend	Pair Corr
0.41	ARLO	Arlo Technologies	Pair Corr
0.56	CW	Curtiss Wright	Pair Corr
0.55	AZ	A2Z Smart Technologies	Pair Corr
0.54	BV	BrightView Holdings	Pair Corr
0.53	AP	Ampco Pittsburgh	Pair Corr
0.5	CP	Canadian Pacific Railway	Pair Corr
0.44	AL	Air Lease	Pair Corr
0.44	BA	Boeing	Pair Corr
0.41	CR	Crane Company	Pair Corr

Related Correlations Analysis

	APOG	AZEK	LII	ROCK	WMS	TT	FBIN	JCI	MAS	OC
APOG		-0.48	0.04	0.11	-0.37	-0.67	0.62	-0.58	0.54	0.39	APOG
AZEK	-0.48		0.07	0.01	0.62	0.68	-0.4	0.7	-0.21	-0.09	AZEK
LII	0.04	0.07		0.8	0.61	0.46	0.43	0.42	0.67	0.41	LII
ROCK	0.11	0.01	0.8		0.58	0.43	0.61	0.48	0.81	0.44	ROCK
WMS	-0.37	0.62	0.61	0.58		0.72	0.13	0.7	0.29	0.4	WMS
TT	-0.67	0.68	0.46	0.43	0.72		-0.35	0.97	-0.06	-0.17	TT
FBIN	0.62	-0.4	0.43	0.61	0.13	-0.35		-0.28	0.89	0.81	FBIN
JCI	-0.58	0.7	0.42	0.48	0.7	0.97	-0.28		0.03	-0.16	JCI
MAS	0.54	-0.21	0.67	0.81	0.29	-0.06	0.89	0.03		0.63	MAS
OC	0.39	-0.09	0.41	0.44	0.4	-0.17	0.81	-0.16	0.63		OC
	APOG	AZEK	LII	ROCK	WMS	TT	FBIN	JCI	MAS	OC

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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	+ 0.97	TT
MAS	+ 0.89	FBIN
MAS	+ 0.81	ROCK
OC	+ 0.81	FBIN
ROCK	+ 0.8	LII
TT	+ 0.72	WMS

High negative correlations

TT	- 0.67	APOG
JCI	- 0.58	APOG
AZEK	- 0.48	APOG
FBIN	- 0.4	AZEK
WMS	- 0.37	APOG
FBIN	- 0.35	TT

Risk-Adjusted Indicators

There is a big difference between Builders Stock performing well and Builders FirstSource 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 Builders FirstSource'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
APOG	1.77	(0.28)	0.00	(0.28)	0.00	0.00	3.98	(3.25)	20.29
AZEK	1.72	0.41	0.27	0.47	1.23	(2.40)	2.63	(2.43)	21.39
LII	1.74	(0.11)	0.00	(0.04)	0.00	0.00	3.00	(4.20)	18.90
ROCK	2.00	(0.21)	0.00	(0.11)	0.00	0.00	4.48	(3.91)	14.93
WMS	1.98	0.05	0.03	0.10	2.36	(2.08)	4.30	(3.40)	18.55
TT	1.54	0.27	0.14	0.32	1.71	(1.80)	3.07	(3.87)	12.63
FBIN	2.31	(0.32)	0.00	(0.15)	0.00	0.00	3.78	(4.68)	19.89
JCI	1.46	0.37	0.14	0.34	2.10	(1.50)	3.09	(3.10)	14.11
MAS	1.78	(0.19)	0.00	(0.10)	0.00	0.00	2.75	(3.44)	15.75
OC	1.93	(0.10)	0.00	(0.02)	0.00	0.00	4.19	(4.38)	20.45

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