Meritage Homes Correlations

MEY Stock

EUR 60.00 1.00 1.69%

The correlation of Meritage Homes 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.

Meritage Homes Correlation With Market

Modest diversification

The correlation between Meritage Homes and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Meritage Homes and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Meritage Homes could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Meritage Homes when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Meritage Homes - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Meritage Homes to buy it.

Moving together with Meritage Stock

0.67	HO2	DR Horton Earnings Call This Week	Pair Corr
0.66	NVE	NVR Inc Earnings Call This Week	Pair Corr
0.86	PU7	PulteGroup Earnings Call This Week	Pair Corr

Moving against Meritage Stock

0.35

3BAA

BARRATT DEVEL UNSPADR2

Pair Corr

Related Correlations Analysis

	HO2	LNN0	LNN	NVE	SPH1	PU7	TLK	SUI	3BA
HO2		0.66	0.69	0.69	-0.22	0.71	0.68	-0.24	-0.34	HO2
LNN0	0.66		0.71	0.67	-0.11	0.63	0.71	-0.01	0.08	LNN0
LNN	0.69	0.71		0.76	0.19	0.49	0.43	0.11	0.02	LNN
NVE	0.69	0.67	0.76		0.18	0.61	0.52	0.07	-0.19	NVE
SPH1	-0.22	-0.11	0.19	0.18		-0.14	-0.45	0.62	0.37	SPH1
PU7	0.71	0.63	0.49	0.61	-0.14		0.72	-0.21	-0.17	PU7
TLK	0.68	0.71	0.43	0.52	-0.45	0.72		-0.2	-0.19	TLK
SUI	-0.24	-0.01	0.11	0.07	0.62	-0.21	-0.2		0.43	SUI
3BA	-0.34	0.08	0.02	-0.19	0.37	-0.17	-0.19	0.43		3BA
	HO2	LNN0	LNN	NVE	SPH1	PU7	TLK	SUI	3BA

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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

NVE	+ 0.76	LNN
TLK	+ 0.72	PU7
PU7	+ 0.71	HO2
LNN	+ 0.71	LNN0
TLK	+ 0.71	LNN0
LNN	+ 0.69	HO2

High negative correlations

TLK	- 0.45	SPH1
3BA	- 0.34	HO2
SUI	- 0.24	HO2
SPH1	- 0.22	HO2
SUI	- 0.21	PU7
SUI	- 0.2	TLK

Risk-Adjusted Indicators

There is a big difference between Meritage Stock performing well and Meritage Homes 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 Meritage Homes' 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
HO2	1.74	0.22	0.00	(0.21)	1.84	(2.05)	4.10	(3.54)	12.74
LNN0	2.04	0.13	(0.02)	(0.39)	2.01	(2.51)	5.08	(3.25)	11.76
LNN	1.75	0.08	(0.05)	(0.08)	2.06	(1.90)	4.40	(3.04)	11.10
NVE	1.25	0.05	(0.08)	(0.01)	1.32	(1.74)	3.20	(2.40)	7.97
SPH1	1.05	(0.11)	0.00	(2.04)	0.00	0.00	2.25	(2.16)	9.96
PU7	1.69	0.10	0.04	0.26	1.91	(1.90)	4.02	(3.53)	14.51
TLK	1.68	0.35	0.09	(0.82)	1.59	(1.86)	4.48	(3.26)	11.97
SUI	1.08	(0.08)	0.00	(0.14)	0.00	0.00	2.68	(2.01)	7.96
3BA	1.82	(0.10)	0.00	5.33	0.00	0.00	4.15	(4.77)	17.44

Be your own money manager

Our tools can tell you how much better you can do entering a position in Meritage Homes without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Meritage Homes Corporate Management

Elected by the shareholders, the Meritage Homes' board of directors comprises two types of representatives: Meritage Homes inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Meritage. The board's role is to monitor Meritage Homes' management team and ensure that shareholders' interests are well served. Meritage Homes' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Meritage Homes' outside directors are responsible for providing unbiased perspectives on the board's policies.

Hilla Sferruzza	CFO VP	Profile
Alison Sasser	Co VP	Profile
Steven Hilton	Ex Chairman	Profile
Phillippe Lord	CEO VP	Profile
Javier Feliciano	Chief VP	Profile
Christopher Ryan	Pres Division	Profile
Malissia Clinton	Gen VP	Profile

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