Cavco Industries Correlations

CVCO Stock

USD 512.89 8.59 1.65%

The current 90-days correlation between Cavco Industries and Meritage is 0.49 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Cavco Industries moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Cavco Industries moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Cavco Industries Correlation With Market

Very weak diversification

The correlation between Cavco Industries and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cavco Industries 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 Cavco Industries. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

To learn how to invest in Cavco Stock, please use our How to Invest in Cavco Industries guide.

Moving together with Cavco Stock

0.7	HAS	Hasbro Inc	Pair Corr
0.87	MAT	Mattel Inc	Pair Corr
0.64	MSB	Mesabi Trust	Pair Corr
0.84	NTNX	Nutanix	Pair Corr
0.79	KGC	Kinross Gold Aggressive Push	Pair Corr
0.78	FWEDF	Fireweed Zinc	Pair Corr
0.76	CDR-PB	Cedar Realty Trust	Pair Corr
0.63	INVX	Innovex International, Symbol Change	Pair Corr
0.91	NVRO	Nevro Corp	Pair Corr
0.83	TOI	Oncology Institute Earnings Call This Week	Pair Corr
0.8	BAOB	Baraboo Bancorporation	Pair Corr

Moving against Cavco Stock

0.75	NVR	NVR Inc	Pair Corr
0.67	WWW	Wolverine World Wide	Pair Corr
0.67	WHR	Whirlpool	Pair Corr
0.65	DHI	DR Horton	Pair Corr
0.63	PLAY	Dave Busters Enterta	Pair Corr
0.56	CRI	Carters	Pair Corr
0.43	KTB	Kontoor Brands	Pair Corr
0.31	COOK	Traeger	Pair Corr

Related Correlations Analysis

	MTH	IBP	TMHC	LEGH	CCS	BZH	TPH	MHO	LGIH	SKY
MTH		0.83	0.77	-0.16	0.9	0.81	0.85	0.87	0.87	-0.36	MTH
IBP	0.83		0.84	0.11	0.8	0.52	0.78	0.61	0.73	-0.26	IBP
TMHC	0.77	0.84		0.27	0.74	0.44	0.64	0.45	0.63	0.08	TMHC
LEGH	-0.16	0.11	0.27		0.1	-0.31	-0.08	-0.36	-0.1	0.71	LEGH
CCS	0.9	0.8	0.74	0.1		0.71	0.84	0.79	0.88	-0.1	CCS
BZH	0.81	0.52	0.44	-0.31	0.71		0.79	0.93	0.88	-0.48	BZH
TPH	0.85	0.78	0.64	-0.08	0.84	0.79		0.81	0.95	-0.36	TPH
MHO	0.87	0.61	0.45	-0.36	0.79	0.93	0.81		0.87	-0.53	MHO
LGIH	0.87	0.73	0.63	-0.1	0.88	0.88	0.95	0.87		-0.34	LGIH
SKY	-0.36	-0.26	0.08	0.71	-0.1	-0.48	-0.36	-0.53	-0.34		SKY
	MTH	IBP	TMHC	LEGH	CCS	BZH	TPH	MHO	LGIH	SKY

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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

LGIH	+ 0.95	TPH
MHO	+ 0.93	BZH
CCS	+ 0.9	MTH
LGIH	+ 0.88	CCS
LGIH	+ 0.88	BZH
MHO	+ 0.87	MTH

High negative correlations

SKY	- 0.53	MHO
SKY	- 0.48	BZH
SKY	- 0.36	TPH
MHO	- 0.36	LEGH
SKY	- 0.36	MTH
SKY	- 0.34	LGIH

Risk-Adjusted Indicators

There is a big difference between Cavco Stock performing well and Cavco Industries 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 Cavco Industries' 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
MTH	1.63	(0.17)	0.00	(0.23)	0.00	0.00	2.80	(3.68)	8.89
IBP	1.76	(0.10)	0.00	(0.15)	0.00	0.00	3.74	(4.87)	12.76
TMHC	1.54	(0.05)	0.00	(0.12)	0.00	0.00	3.35	(3.11)	8.18
LEGH	1.58	0.08	0.05	0.03	1.93	(1.52)	2.67	(2.76)	7.24
CCS	1.73	(0.19)	0.00	(0.27)	0.00	0.00	4.10	(3.25)	8.95
BZH	2.26	(0.40)	0.00	(0.34)	0.00	0.00	3.76	(3.75)	24.99
TPH	1.62	(0.25)	0.00	(0.34)	0.00	0.00	3.08	(3.26)	14.22
MHO	1.66	(0.34)	0.00	(0.45)	0.00	0.00	2.61	(3.53)	10.34
LGIH	1.96	(0.42)	0.00	(0.41)	0.00	0.00	3.32	(4.15)	10.51
SKY	1.82	0.17	0.08	0.06	1.66	(2.36)	3.62	(2.46)	16.82

Cavco Industries Corporate Executives

Elected by the shareholders, the Cavco Industries' board of directors comprises two types of representatives: Cavco Industries inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Cavco. The board's role is to monitor Cavco Industries' management team and ensure that shareholders' interests are well served. Cavco Industries' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Cavco Industries' outside directors are responsible for providing unbiased perspectives on the board's policies.

Allison CPA

CFO VP

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