Builders FirstSource Correlations

BLDR Stock

USD 122.36 2.89 2.31%

The current 90-days correlation between Builders FirstSource and Masco is 0.74 (i.e., Poor 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

Weak diversification

The correlation between Builders FirstSource and DJI is 0.38 (i.e., 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.

Build AI portfolio with Builders Stock

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 small area income & poverty estimates.

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

Moving together with Builders Stock

0.64	NX	Quanex Building Products	Pair Corr
0.77	FBIN	Fortune Brands Innov	Pair Corr
0.72	AOS	Smith AO Earnings Call This Week	Pair Corr
0.7	AWI	Armstrong World Indu	Pair Corr
0.76	GFF	Griffon	Pair Corr
0.89	MAS	Masco	Pair Corr
0.92	SSD	Simpson Manufacturing	Pair Corr
0.65	JELD	Jeld Wen Holding	Pair Corr
0.86	AMWD	American Woodmark	Pair Corr
0.61	300599	Guangdong Xiongsu	Pair Corr
0.7	CARR	Carrier Global Corp	Pair Corr
0.7	UFPI	Ufp Industries	Pair Corr

Moving against Builders Stock

0.54	JCI	Johnson Controls Int	Pair Corr
0.56	TXTM	Protext Mobility	Pair Corr

Related Correlations Analysis

	MAS	BLD	CSL	WMS	OC	HII	WCC	STN	LECO	STRL
MAS		0.83	0.91	0.46	0.87	0.57	0.08	0.21	0.81	0.01	MAS
BLD	0.83		0.82	0.74	0.6	0.72	0.45	-0.01	0.8	0.0	BLD
CSL	0.91	0.82		0.56	0.78	0.76	0.33	0.08	0.88	-0.02	CSL
WMS	0.46	0.74	0.56		0.1	0.74	0.72	-0.51	0.72	-0.42	WMS
OC	0.87	0.6	0.78	0.1		0.33	-0.11	0.39	0.64	0.21	OC
HII	0.57	0.72	0.76	0.74	0.33		0.69	-0.3	0.79	-0.25	HII
WCC	0.08	0.45	0.33	0.72	-0.11	0.69		-0.51	0.47	-0.21	WCC
STN	0.21	-0.01	0.08	-0.51	0.39	-0.3	-0.51		-0.25	0.83	STN
LECO	0.81	0.8	0.88	0.72	0.64	0.79	0.47	-0.25		-0.3	LECO
STRL	0.01	0.0	-0.02	-0.42	0.21	-0.25	-0.21	0.83	-0.3		STRL
	MAS	BLD	CSL	WMS	OC	HII	WCC	STN	LECO	STRL

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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

CSL	+ 0.91	MAS
LECO	+ 0.88	CSL
OC	+ 0.87	MAS
BLD	+ 0.83	MAS
STRL	+ 0.83	STN
CSL	+ 0.82	BLD

High negative correlations

STN	- 0.51	WCC
STN	- 0.51	WMS
STRL	- 0.42	WMS
STRL	- 0.3	LECO
STN	- 0.3	HII
LECO	- 0.25	STN

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
MAS	1.32	(0.08)	(0.03)	0.01	1.57	(1.48)	3.51	(2.29)	7.82
BLD	1.80	0.05	0.05	0.09	1.87	(1.97)	4.50	(3.27)	10.98
CSL	1.27	(0.01)	0.02	0.06	1.66	(1.24)	4.11	(2.75)	8.62
WMS	1.39	0.04	0.03	0.11	1.35	(1.55)	3.31	(2.46)	11.59
OC	1.56	(0.12)	0.00	(0.01)	0.00	0.00	4.03	(2.95)	12.01
HII	1.64	0.51	0.31	0.45	1.21	(1.88)	4.34	(2.56)	10.50
WCC	1.86	0.30	0.16	0.23	1.93	(2.08)	3.54	(3.42)	16.49
STN	1.10	(0.24)	0.00	(0.13)	0.00	0.00	1.96	(2.27)	8.69
LECO	1.20	0.01	0.03	0.08	1.56	(1.23)	2.47	(2.84)	7.77
STRL	3.07	(0.16)	(0.01)	0.00	4.57	(3.08)	6.61	(7.45)	21.66

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