Eagle Materials Correlations

EXP Stock

USD 217.29 0.84 0.39%

The current 90-days correlation between Eagle Materials and Summit Materials is 0.14 (i.e., Average diversification). The correlation of Eagle Materials 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.

Eagle Materials Correlation With Market

Very weak diversification

The correlation between Eagle Materials and DJI is 0.52 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eagle Materials and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Eagle Materials. 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.

To learn how to invest in Eagle Stock, please use our How to Invest in Eagle Materials guide.

Moving together with Eagle Stock

0.97	BCC	Boise Cascad Llc	Pair Corr
0.65	JHX	James Hardie Industries	Pair Corr
0.88	KNF	Knife River	Pair Corr
0.97	MLM	Martin Marietta Materials	Pair Corr
0.96	VMC	Vulcan Materials	Pair Corr
0.7	LOMA	Loma Negra Compania	Pair Corr
0.66	TGLS	Tecnoglass	Pair Corr
0.78	USLM	United States Lime	Pair Corr
0.78	AA	Alcoa Corp	Pair Corr
0.91	CC	Chemours	Pair Corr
0.87	CE	Celanese	Pair Corr
0.76	CF	CF Industries Holdings	Pair Corr
0.86	FF	FutureFuel Corp	Pair Corr
0.78	NX	Quanex Building Products	Pair Corr
0.65	OC	Owens Corning	Pair Corr
0.66	SA	Seabridge Gold Earnings Call This Week	Pair Corr

Moving against Eagle Stock

0.42	X	United States Steel	Pair Corr
0.7	MT	ArcelorMittal SA ADR	Pair Corr
0.63	DC	Dakota Gold Corp	Pair Corr
0.53	MP	MP Materials Corp	Pair Corr
0.49	AU	AngloGold Ashanti plc	Pair Corr
0.39	AG	First Majestic Silver Aggressive Push	Pair Corr
0.55	VALE	Vale SA ADR Aggressive Push	Pair Corr
0.43	TX	Ternium SA ADR	Pair Corr
0.37	WDFC	WD 40 Company	Pair Corr
0.35	HYMCL	Hycroft Mining Holding	Pair Corr
0.31	VZLA	Vizsla Resources Corp	Pair Corr

Related Correlations Analysis

	VMC	CRH	SUM	CX	MLM	USLM	CPAC	JHX	MCEM	LOMA
VMC		0.27	-0.24	-0.08	0.97	0.66	0.12	0.64	-0.29	0.62	VMC
CRH	0.27		-0.5	0.81	0.12	-0.4	0.59	0.4	0.7	-0.22	CRH
SUM	-0.24	-0.5		-0.61	-0.15	0.24	-0.34	-0.24	-0.4	-0.06	SUM
CX	-0.08	0.81	-0.61		-0.23	-0.63	0.44	0.06	0.79	-0.26	CX
MLM	0.97	0.12	-0.15	-0.23		0.75	0.02	0.65	-0.45	0.64	MLM
USLM	0.66	-0.4	0.24	-0.63	0.75		-0.31	0.24	-0.82	0.75	USLM
CPAC	0.12	0.59	-0.34	0.44	0.02	-0.31		0.5	0.48	-0.07	CPAC
JHX	0.64	0.4	-0.24	0.06	0.65	0.24	0.5		-0.02	0.2	JHX
MCEM	-0.29	0.7	-0.4	0.79	-0.45	-0.82	0.48	-0.02		-0.55	MCEM
LOMA	0.62	-0.22	-0.06	-0.26	0.64	0.75	-0.07	0.2	-0.55		LOMA
	VMC	CRH	SUM	CX	MLM	USLM	CPAC	JHX	MCEM	LOMA

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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

MLM	+ 0.97	VMC
CX	+ 0.81	CRH
MCEM	+ 0.79	CX
USLM	+ 0.75	MLM
LOMA	+ 0.75	USLM
MCEM	+ 0.7	CRH

High negative correlations

MCEM	- 0.82	USLM
USLM	- 0.63	CX
CX	- 0.61	SUM
LOMA	- 0.55	MCEM
SUM	- 0.5	CRH
MCEM	- 0.45	MLM

Risk-Adjusted Indicators

There is a big difference between Eagle Stock performing well and Eagle Materials 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 Eagle Materials' 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
VMC	1.28	(0.16)	0.00	(0.26)	0.00	0.00	2.09	(2.85)	9.19
CRH	1.55	0.09	0.03	0.00	2.11	(1.47)	3.30	(3.84)	10.53
SUM	0.18	0.10	1.10	3.94	0.00	(0.25)	0.69	(0.21)	2.25
CX	1.66	0.19	0.10	0.21	1.91	(1.80)	3.41	(2.68)	18.09
MLM	1.13	(0.15)	0.00	(0.25)	0.00	0.00	2.63	(2.60)	6.66
USLM	1.88	(0.58)	0.00	(0.51)	0.00	0.00	2.67	(5.51)	9.59
CPAC	1.37	(0.04)	0.00	0.49	0.00	0.00	3.04	(2.90)	10.27
JHX	1.39	(0.17)	0.00	0.47	0.00	0.00	3.40	(3.29)	8.04
MCEM	0.74	0.04	0.10	0.87	0.90	(0.81)	2.10	(1.44)	5.74
LOMA	2.52	(0.25)	0.00	0.30	0.00	0.00	5.19	(6.37)	13.80

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