Caesarstone Correlations

CSTE Stock

USD 2.96 0.04 1.37%

The current 90-days correlation between Caesarstone and Perma Pipe International Holdings is -0.04 (i.e., Good diversification). The correlation of Caesarstone 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.

Caesarstone Correlation With Market

Good diversification

The correlation between Caesarstone and DJI is -0.2 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Caesarstone 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 Caesarstone. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

For information on how to trade Caesarstone Stock refer to our How to Trade Caesarstone Stock guide.

Moving together with Caesarstone Stock

0.85	OC	Owens Corning	Pair Corr
0.66	TT	Trane Technologies plc	Pair Corr
0.79	FBIN	Fortune Brands Innov	Pair Corr
0.7	CSL	Carlisle Companies	Pair Corr
0.95	GMS	GMS Inc	Pair Corr
0.81	LPX	Louisiana Pacific	Pair Corr
0.82	ILAG	Intelligent Living	Pair Corr
0.76	JELD	Jeld Wen Holding Sell-off Trend	Pair Corr
0.62	AIRJW	Montana Technologies	Pair Corr
0.82	AAON	AAON Inc	Pair Corr
0.84	ASPN	Aspen Aerogels	Pair Corr
0.87	AZEK	Azek Company	Pair Corr
0.78	BLDR	Builders FirstSource	Pair Corr
0.91	TREX	Trex Company	Pair Corr
0.8	CC	Chemours	Pair Corr
0.75	CE	Celanese	Pair Corr

Moving against Caesarstone Stock

0.76	ROCK	Gibraltar Industries	Pair Corr
0.69	DC	Dakota Gold Corp	Pair Corr
0.64	AU	AngloGold Ashanti plc	Pair Corr
0.62	AG	First Majestic Silver Aggressive Push	Pair Corr
0.58	X	United States Steel Sell-off Trend	Pair Corr

Related Correlations Analysis

	ROCK	NX	JELD	PPIH	TILE	DOOR	AWI	JBI	PGTI
ROCK		-0.09	-0.67	-0.12	-0.4	0.0	0.29	0.45	0.0	ROCK
NX	-0.09		0.28	0.71	0.84	0.0	0.16	-0.44	0.0	NX
JELD	-0.67	0.28		0.45	0.6	0.0	-0.02	-0.3	0.0	JELD
PPIH	-0.12	0.71	0.45		0.78	0.0	0.42	-0.15	0.0	PPIH
TILE	-0.4	0.84	0.6	0.78		0.0	0.17	-0.42	0.0	TILE
DOOR	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	DOOR
AWI	0.29	0.16	-0.02	0.42	0.17	0.0		0.47	0.0	AWI
JBI	0.45	-0.44	-0.3	-0.15	-0.42	0.0	0.47		0.0	JBI
PGTI	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		PGTI
	ROCK	NX	JELD	PPIH	TILE	DOOR	AWI	JBI	PGTI

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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	+ 0.84	NX
TILE	+ 0.78	PPIH
PPIH	+ 0.71	NX
TILE	+ 0.6	JELD
JBI	+ 0.47	AWI
JBI	+ 0.45	ROCK

High negative correlations

JELD	- 0.67	ROCK
JBI	- 0.44	NX
JBI	- 0.42	TILE
TILE	- 0.4	ROCK
JBI	- 0.3	JELD
JBI	- 0.15	PPIH

Risk-Adjusted Indicators

There is a big difference between Caesarstone Stock performing well and Caesarstone 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 Caesarstone'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
ROCK	1.53	0.01	0.00	(0.07)	0.00	0.00	3.06	(3.45)	15.02
NX	2.35	(0.43)	0.00	(0.41)	0.00	0.00	4.08	(4.81)	17.75
JELD	2.86	(0.39)	0.00	(1.69)	0.00	0.00	4.69	(6.14)	33.01
PPIH	2.75	(0.16)	0.00	(0.29)	0.00	0.00	7.57	(5.16)	19.64
TILE	1.64	(0.33)	0.00	(0.38)	0.00	0.00	3.16	(4.73)	15.09
DOOR	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AWI	1.22	(0.05)	0.00	(0.11)	0.00	0.00	2.26	(2.25)	8.90
JBI	2.11	0.22	0.08	0.12	2.55	(2.32)	5.26	(5.02)	19.17
PGTI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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