GMS Correlations

GMS Stock

USD 109.96 0.01 0.01%

The current 90-days correlation between GMS Inc and Armstrong World Industries is 0.2 (i.e., Modest diversification). The correlation of GMS 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.

GMS Correlation With Market

Average diversification

The correlation between GMS Inc and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding GMS Inc and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with GMS Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in GMS Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in industry.

Moving together with GMS Stock

0.71	OC	Owens Corning	Pair Corr
0.71	FBIN	Fortune Brands Innov	Pair Corr
0.71	AWI	Armstrong World Indu	Pair Corr
0.71	GFF	Griffon	Pair Corr
0.64	JBI	Janus International	Pair Corr
0.7	JCI	Johnson Controls Int	Pair Corr
0.65	LII	Lennox International	Pair Corr
0.67	MAS	Masco	Pair Corr
0.65	JELD	Jeld Wen Holding Buyout Trend	Pair Corr
0.78	PPIH	Perma Pipe Internati	Pair Corr
0.7	ROCK	Gibraltar Industries	Pair Corr
0.7	AEHL	Antelope Enterprise	Pair Corr
0.82	APOG	Apogee Enterprises	Pair Corr
0.65	ASPN	Aspen Aerogels	Pair Corr
0.77	SPXC	SPX Corp	Pair Corr
0.85	BLDR	Builders FirstSource	Pair Corr
0.72	TREX	Trex Company	Pair Corr
0.77	J	Jacobs Solutions	Pair Corr
0.88	R	Ryder System	Pair Corr
0.7	BA	Boeing	Pair Corr

Moving against GMS Stock

0.38	AIRJW	Montana Technologies	Pair Corr
0.58	CP	Canadian Pacific Railway	Pair Corr
0.46	FA	First Advantage Corp	Pair Corr

Related Correlations Analysis

	AWI	NX	JELD	JBI	IBP	ATKR	FBK
AWI		0.7	0.91	0.87	0.93	-0.56	0.87	AWI
NX	0.7		0.75	0.78	0.79	-0.34	0.75	NX
JELD	0.91	0.75		0.96	0.95	-0.58	0.92	JELD
JBI	0.87	0.78	0.96		0.96	-0.58	0.89	JBI
IBP	0.93	0.79	0.95	0.96		-0.64	0.89	IBP
ATKR	-0.56	-0.34	-0.58	-0.58	-0.64		-0.35	ATKR
FBK	0.87	0.75	0.92	0.89	0.89	-0.35		FBK
	AWI	NX	JELD	JBI	IBP	ATKR	FBK

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

JBI	+ 0.96	JELD
IBP	+ 0.96	JBI
IBP	+ 0.95	JELD
IBP	+ 0.93	AWI
FBK	+ 0.92	JELD
JELD	+ 0.91	AWI

High negative correlations

ATKR	- 0.64	IBP
ATKR	- 0.58	JBI
ATKR	- 0.58	JELD
ATKR	- 0.56	AWI
FBK	- 0.35	ATKR
ATKR	- 0.34	NX

Risk-Adjusted Indicators

There is a big difference between GMS Stock performing well and GMS 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 GMS'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
AWI	0.90	0.30	0.32	0.49	0.36	(1.12)	2.39	(1.08)	10.79
NX	2.39	0.30	0.09	1.78	2.08	(2.95)	6.46	(3.28)	15.60
JELD	3.52	0.66	0.30	0.33	2.40	(4.70)	9.44	(4.50)	23.64
JBI	1.99	0.20	0.15	0.20	1.68	(2.59)	6.12	(3.17)	16.53
IBP	2.26	0.73	0.31	0.99	1.62	(2.56)	5.42	(3.16)	23.31
ATKR	1.99	(0.33)	0.00	(0.04)	0.00	0.00	3.94	(2.24)	30.78
FBK	1.22	0.17	0.18	0.20	1.06	(1.39)	3.13	(1.64)	7.70

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