BlueLinx Holdings Correlations

BXC Stock  USD 80.41  2.01  2.44%   
The current 90-days correlation between BlueLinx Holdings and DXP Enterprises is 0.35 (i.e., Weak diversification). The correlation of BlueLinx Holdings 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.

BlueLinx Holdings Correlation With Market

Very weak diversification

The correlation between BlueLinx Holdings and DJI is 0.48 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BlueLinx Holdings 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 BlueLinx Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in interest.
For information on how to trade BlueLinx Stock refer to our How to Trade BlueLinx Stock guide.

Moving together with BlueLinx Stock

  0.83DSGR Distribution SolutionsPairCorr
  0.76FERG Ferguson PlcPairCorr
  0.7AIT Applied IndustrialPairCorr
  0.85GIC Global IndustrialPairCorr
  0.79SITE SiteOne Landscape SupplyPairCorr
  0.91J Jacobs SolutionsPairCorr
  0.95BV BrightView HoldingsPairCorr
  0.84BW Babcock Wilcox EnterPairCorr
  0.86CW Curtiss WrightPairCorr
  0.82DY Dycom IndustriesPairCorr
  0.83FA First Advantage CorpPairCorr
  0.78FC Franklin Covey Earnings Call This WeekPairCorr

Moving against BlueLinx Stock

  0.74BZ Kanzhun Ltd ADRPairCorr
  0.48DNOW Now IncPairCorr
  0.48WCC-PA WESCO InternationalPairCorr
  0.44WSO Watsco IncPairCorr
  0.8VACH Voyager Acquisition CorpPairCorr
  0.79PC Premium CateringPairCorr
  0.76SB Safe BulkersPairCorr
  0.73EH Ehang HoldingsPairCorr
  0.66WM Waste ManagementPairCorr
  0.63LZ LegalZoomPairCorr
  0.45DE Deere CompanyPairCorr
  0.44GE GE AerospacePairCorr
  0.36MG Mistras GroupPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
FERGAIT
AITCNM
SITECNM
SITEFERG
FERGCNM
CNMDXPE
  
High negative correlations   
GWWWCC-PA
WCC-PACNM
WCC-PADSGR
SITEWCC-PA
GICWCC-PA
AITWCC-PA

Risk-Adjusted Indicators

There is a big difference between BlueLinx Stock performing well and BlueLinx Holdings 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 BlueLinx Holdings' 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
DXPE  2.55  0.27  0.07  0.13  3.27 
 5.24 
 15.13 
DSGR  1.71 (0.37) 0.00 (0.48) 0.00 
 3.58 
 13.85 
CNM  1.24 (0.05) 0.00 (0.11) 0.00 
 2.53 
 8.03 
WCC-PA  0.10  0.02  0.52  11.49  0.00 
 0.24 
 1.00 
GIC  1.27 (0.20) 0.00 (0.27) 0.00 
 2.18 
 7.35 
AIT  1.37 (0.13) 0.00 (0.17) 0.00 
 2.59 
 10.46 
FERG  1.33 (0.13) 0.00 (0.20) 0.00 
 2.44 
 8.55 
MSM  1.40 (0.03) 0.00 (0.09) 0.00 
 3.33 
 7.60 
GWW  0.94 (0.13) 0.00 (0.27) 0.00 
 1.19 
 7.86 
SITE  1.51 (0.15) 0.00 (0.22) 0.00 
 3.12 
 8.22