Azek Correlations

AZEK Stock

USD 41.73 0.18 0.43%

The current 90-days correlation between Azek Company and Louisiana Pacific is 0.75 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Azek moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Azek Company moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Azek Correlation With Market

Poor diversification

The correlation between Azek Company and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Azek Company and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Azek Company. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with Azek Stock

0.68	NX	Quanex Building Products	Pair Corr
0.94	OC	Owens Corning	Pair Corr
0.68	TT	Trane Technologies plc	Pair Corr
0.85	FBIN	Fortune Brands Innov	Pair Corr
0.64	AWI	Armstrong World Indu	Pair Corr
0.75	CSL	Carlisle Companies	Pair Corr
0.93	GMS	GMS Inc	Pair Corr
0.63	LII	Lennox International	Pair Corr
0.9	LPX	Louisiana Pacific	Pair Corr
0.8	MAS	Masco	Pair Corr
0.83	WMS	Advanced Drainage Systems	Pair Corr
0.75	ILAG	Intelligent Living	Pair Corr
0.8	JELD	Jeld Wen Holding	Pair Corr
0.77	PPIH	Perma Pipe Internati	Pair Corr
0.77	AAON	AAON Inc	Pair Corr
0.68	ASPN	Aspen Aerogels Downward Rally	Pair Corr
0.9	BLDR	Builders FirstSource	Pair Corr
0.94	TREX	Trex Company	Pair Corr
0.88	CSTE	Caesarstone	Pair Corr
0.82	J	Jacobs Solutions	Pair Corr
0.79	R	Ryder System	Pair Corr
0.64	BA	Boeing	Pair Corr
0.78	BV	BrightView Holdings	Pair Corr

Moving against Azek Stock

0.66	BZ	Kanzhun Ltd ADR	Pair Corr
0.47	PC	Premium Catering	Pair Corr
0.46	EH	Ehang Holdings Downward Rally	Pair Corr

Related Correlations Analysis

	LPX	MAS	FBIN	TT	NX	APOG	BECN	JBI	TILE
LPX		0.79	0.84	0.65	0.53	0.28	0.04	-0.09	0.79	LPX
MAS	0.79		0.71	0.38	0.32	0.0	0.39	0.34	0.49	MAS
FBIN	0.84	0.71		0.86	0.82	0.55	-0.2	-0.28	0.88	FBIN
TT	0.65	0.38	0.86		0.86	0.69	-0.46	-0.55	0.85	TT
NX	0.53	0.32	0.82	0.86		0.88	-0.57	-0.44	0.84	NX
APOG	0.28	0.0	0.55	0.69	0.88		-0.78	-0.5	0.73	APOG
BECN	0.04	0.39	-0.2	-0.46	-0.57	-0.78		0.74	-0.42	BECN
JBI	-0.09	0.34	-0.28	-0.55	-0.44	-0.5	0.74		-0.42	JBI
TILE	0.79	0.49	0.88	0.85	0.84	0.73	-0.42	-0.42		TILE
	LPX	MAS	FBIN	TT	NX	APOG	BECN	JBI	TILE

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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

TILE	+ 0.88	FBIN
APOG	+ 0.88	NX
TT	+ 0.86	FBIN
NX	+ 0.86	TT
TILE	+ 0.85	TT
FBIN	+ 0.84	LPX

High negative correlations

BECN	- 0.78	APOG
BECN	- 0.57	NX
JBI	- 0.55	TT
JBI	- 0.5	APOG
BECN	- 0.46	TT
JBI	- 0.44	NX

Risk-Adjusted Indicators

There is a big difference between Azek Stock performing well and Azek 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 Azek'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
LPX	1.57	(0.22)	0.00	(0.26)	0.00	0.00	3.22	(3.51)	14.91
MAS	1.23	(0.07)	0.00	(0.15)	0.00	0.00	2.35	(2.45)	6.69
FBIN	1.30	(0.24)	0.00	(0.33)	0.00	0.00	2.49	(3.04)	7.58
TT	1.17	(0.13)	0.00	(0.22)	0.00	0.00	2.05	(2.33)	10.34
NX	2.35	(0.43)	0.00	(0.41)	0.00	0.00	4.08	(4.81)	17.75
APOG	1.82	(0.66)	0.00	(0.67)	0.00	0.00	3.11	(3.74)	20.51
BECN	1.14	0.21	0.20	0.30	1.04	(1.34)	3.23	(2.17)	10.10
JBI	2.11	0.22	0.08	0.12	2.55	(2.32)	5.26	(5.02)	19.17
TILE	1.64	(0.33)	0.00	(0.38)	0.00	0.00	3.16	(4.73)	15.09

Azek Corporate Management

Gary Hendrickson	Independent Non-Executive Chairman of the Board	Profile
Scott Winter	President - Commercial Segment	Profile
Vernon Nagel	Independent Director	Profile
Brian Klos	Independent Director	Profile
Bobby Gentile	Senior Vice President - Operations	Profile
Howard Heckes	Independent Director	Profile
Bennett Rosenthal	Independent Director	Profile

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