Legacy Housing Correlations

LEGH Stock

USD 21.97 0.52 2.31%

The current 90-days correlation between Legacy Housing Corp and Beazer Homes USA is 0.45 (i.e., Very weak diversification). The correlation of Legacy Housing 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.

Legacy Housing Correlation With Market

Very weak diversification

The correlation between Legacy Housing Corp and DJI is 0.59 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Legacy Housing Corp and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Legacy Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Legacy Housing 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 price.

Moving together with Legacy Stock

0.7	VNCE	Vince Holding Corp	Pair Corr
0.67	CRI	Carters Earnings Call This Week	Pair Corr
0.67	WTO	UTime Limited	Pair Corr

Moving against Legacy Stock

0.82	VUZI	Vuzix Corp Cmn	Pair Corr
0.77	AS	Amer Sports,	Pair Corr
0.62	RL	Ralph Lauren Corp	Pair Corr
0.62	UA	Under Armour C	Pair Corr
0.61	DOOO	BRP Inc	Pair Corr
0.58	BC	Brunswick Earnings Call This Week	Pair Corr
0.58	DOGZ	Dogness International	Pair Corr
0.52	FOSL	Fossil Group	Pair Corr
0.51	VMAR	Vision Marine Techno	Pair Corr
0.31	BZH	Beazer Homes USA	Pair Corr
0.65	UAA	Under Armour A	Pair Corr
0.63	GPRO	GoPro Inc	Pair Corr
0.58	MAT	Mattel Inc Earnings Call Tomorrow	Pair Corr
0.55	SKX	Skechers USA Earnings Call This Week	Pair Corr
0.48	PII	Polaris Industries Earnings Call Tomorrow	Pair Corr
0.31	VRA	Vera Bradley	Pair Corr
0.67	PLBY	Plby Group	Pair Corr
0.62	BIRD	Allbirds	Pair Corr
0.58	W	Wayfair	Pair Corr
0.56	RCKY	Rocky Brands	Pair Corr
0.48	SHOO	Steven Madden Earnings Call This Week	Pair Corr
0.45	H	Hyatt Hotels Earnings Call This Week	Pair Corr
0.44	SONY	Sony Group Corp	Pair Corr
0.39	AN	AutoNation	Pair Corr

Related Correlations Analysis

	MHO	TMHC	TPH	BZH	LGIH	CCS	CVCO	SKY	IBP	MTH
MHO		0.95	0.96	0.85	0.17	0.68	-0.04	-0.22	0.87	0.89	MHO
TMHC	0.95		0.98	0.86	0.09	0.68	-0.14	-0.32	0.93	0.89	TMHC
TPH	0.96	0.98		0.83	0.21	0.68	0.01	-0.17	0.88	0.94	TPH
BZH	0.85	0.86	0.83		-0.21	0.31	-0.26	-0.43	0.75	0.64	BZH
LGIH	0.17	0.09	0.21	-0.21		0.46	0.75	0.73	-0.01	0.46	LGIH
CCS	0.68	0.68	0.68	0.31	0.46		-0.01	-0.09	0.7	0.73	CCS
CVCO	-0.04	-0.14	0.01	-0.26	0.75	-0.01		0.96	-0.31	0.21	CVCO
SKY	-0.22	-0.32	-0.17	-0.43	0.73	-0.09	0.96		-0.46	0.05	SKY
IBP	0.87	0.93	0.88	0.75	-0.01	0.7	-0.31	-0.46		0.81	IBP
MTH	0.89	0.89	0.94	0.64	0.46	0.73	0.21	0.05	0.81		MTH
	MHO	TMHC	TPH	BZH	LGIH	CCS	CVCO	SKY	IBP	MTH

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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

TPH	+ 0.98	TMHC
TPH	+ 0.96	MHO
SKY	+ 0.96	CVCO
TMHC	+ 0.95	MHO
MTH	+ 0.94	TPH
IBP	+ 0.93	TMHC

High negative correlations

IBP	- 0.46	SKY
SKY	- 0.43	BZH
SKY	- 0.32	TMHC
IBP	- 0.31	CVCO
CVCO	- 0.26	BZH
SKY	- 0.22	MHO

Risk-Adjusted Indicators

There is a big difference between Legacy Stock performing well and Legacy Housing 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 Legacy Housing'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
MHO	1.75	(0.08)	(0.01)	0.08	2.07	(1.71)	3.96	(3.52)	9.75
TMHC	1.58	0.02	0.03	0.14	1.65	(1.66)	3.63	(2.76)	9.51
TPH	1.50	0.02	0.03	0.15	1.65	(1.68)	3.64	(3.32)	8.80
BZH	2.04	0.18	0.10	0.24	2.17	(2.35)	5.28	(3.99)	14.51
LGIH	2.70	(0.41)	0.00	(0.06)	0.00	0.00	4.95	(5.37)	15.82
CCS	2.04	(0.15)	(0.04)	0.02	2.43	(2.21)	4.30	(3.67)	11.57
CVCO	1.59	(0.35)	0.00	(0.13)	0.00	0.00	3.15	(4.34)	9.42
SKY	2.03	(0.49)	0.00	(0.31)	0.00	0.00	3.36	(4.42)	19.94
IBP	2.08	(0.07)	0.01	0.09	2.52	(2.19)	4.16	(4.46)	12.03
MTH	1.95	(0.04)	0.01	0.10	2.20	(2.05)	4.76	(3.23)	11.09

Legacy Housing Corporate Management

Charles IV	Chief Officer	Profile
Ronald Arrington	Chief Officer	Profile
Jeffrey Fiedelman	Chief Officer	Profile
Mary Saenz	Director Compliance	Profile
Curtis Hodgson	CoFounder Chairman	Profile
Mick Barker	Chief Manager	Profile

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