BlueLinx Holdings Correlations

BXC Stock

USD 84.13 0.02 0.02%

The current 90-days correlation between BlueLinx Holdings and Lindblad Expeditions Holdings is 0.55 (i.e., Very weak diversification). The correlation of BlueLinx Holdings 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.

BlueLinx Holdings Correlation With Market

Very weak diversification

The correlation between BlueLinx Holdings and DJI is 0.53 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BlueLinx Holdings 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 BlueLinx Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in interest.

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

Moving together with BlueLinx Stock

0.66

WXM

WF International Trending

Pair Corr

Moving against BlueLinx Stock

0.32	GWW	WW Grainger	Pair Corr
0.5	WM	Waste Management	Pair Corr
0.33	NL	NL Industries	Pair Corr
0.32	UP	Wheels Up Experience	Pair Corr

Related Correlations Analysis

	VRRM	LIND	KNOIF	STG	BEDU	UAL	EDTK	POCI
VRRM		0.94	0.0	0.66	0.52	0.8	-0.69	0.83	VRRM
LIND	0.94		0.0	0.68	0.49	0.88	-0.69	0.88	LIND
KNOIF	0.0	0.0		0.0	0.0	0.0	0.0	0.0	KNOIF
STG	0.66	0.68	0.0		0.57	0.57	-0.4	0.62	STG
BEDU	0.52	0.49	0.0	0.57		0.36	-0.39	0.51	BEDU
UAL	0.8	0.88	0.0	0.57	0.36		-0.63	0.78	UAL
EDTK	-0.69	-0.69	0.0	-0.4	-0.39	-0.63		-0.62	EDTK
POCI	0.83	0.88	0.0	0.62	0.51	0.78	-0.62		POCI
	VRRM	LIND	KNOIF	STG	BEDU	UAL	EDTK	POCI

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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

LIND	+ 0.94	VRRM
UAL	+ 0.88	LIND
POCI	+ 0.88	LIND
POCI	+ 0.83	VRRM
UAL	+ 0.8	VRRM
POCI	+ 0.78	UAL

High negative correlations

EDTK	- 0.69	LIND
EDTK	- 0.69	VRRM
EDTK	- 0.63	UAL
POCI	- 0.62	EDTK
EDTK	- 0.4	STG
EDTK	- 0.39	BEDU

Risk-Adjusted Indicators

There is a big difference between BlueLinx Stock performing well and BlueLinx Holdings 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 BlueLinx Holdings' 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
VRRM	1.51	0.13	0.06	0.25	1.59	(1.88)	4.29	(3.13)	12.45
LIND	2.39	0.38	0.12	0.35	2.98	(2.58)	5.90	(5.02)	22.07
KNOIF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
STG	3.24	0.13	0.00	(0.37)	3.76	(4.56)	7.26	(7.84)	20.78
BEDU	3.08	0.16	0.02	0.49	3.32	(4.27)	8.07	(5.29)	27.73
UAL	2.95	0.13	0.06	0.15	4.38	(3.00)	5.39	(5.49)	37.55
EDTK	2.65	(0.12)	0.00	0.93	0.00	0.00	5.56	(6.32)	19.32
POCI	2.60	0.26	0.05	1.51	3.06	(3.15)	5.80	(5.24)	14.38

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