Gibraltar Industries Correlations

ROCK Stock  USD 63.32  0.21  0.33%   
The current 90-days correlation between Gibraltar Industries and Quanex Building Products is 0.78 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Gibraltar Industries moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Gibraltar Industries moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Gibraltar Industries Correlation With Market

Poor diversification

The correlation between Gibraltar Industries and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gibraltar Industries and DJI in the same portfolio, assuming nothing else is changed.
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Gibraltar Industries. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.
For more information on how to buy Gibraltar Stock please use our How to buy in Gibraltar Stock guide.

Moving together with Gibraltar Stock

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Moving against Gibraltar Stock

  0.79STAI ScanTech AI SystemsPairCorr
  0.57JELD Jeld Wen HoldingPairCorr
  0.34AIRJ Montana TechnologiesPairCorr
  0.59CSTE CaesarstonePairCorr

Related Correlations Analysis

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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   
WORJBI
TILEJBI
WORTILE
IIINJBI
WORIIIN
TILENX
  
High negative correlations   
WORAPOG
IIINAPOG
APOGJBI
APOGTILE
WORNWPX

Risk-Adjusted Indicators

There is a big difference between Gibraltar Stock performing well and Gibraltar Industries 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 Gibraltar Industries' 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.

Gibraltar Industries Corporate Management