Fortune Brands Correlations

FBIN Stock

62.79 1.04 1.63%

The current 90-days correlation between Fortune Brands Innov and Lennox International is 0.19 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Fortune Brands moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Fortune Brands Innovations moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Fortune Brands Correlation With Market

Good diversification

The correlation between Fortune Brands Innovations and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fortune Brands Innovations 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 Fortune Brands Innovations. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Fortune Stock

0.77	NX	Quanex Building Products	Pair Corr
0.91	OC	Owens Corning	Pair Corr
0.81	TT	Trane Technologies plc	Pair Corr
0.9	CSL	Carlisle Companies	Pair Corr
0.84	GMS	GMS Inc	Pair Corr
0.73	LII	Lennox International	Pair Corr
0.78	LPX	Louisiana Pacific	Pair Corr
0.72	MAS	Masco	Pair Corr
0.81	WMS	Advanced Drainage Systems	Pair Corr
0.63	ILAG	Intelligent Living	Pair Corr
0.89	JELD	Jeld Wen Holding	Pair Corr
0.69	PPIH	Perma Pipe Internati	Pair Corr
0.75	AAON	AAON Inc	Pair Corr
0.66	ASPN	Aspen Aerogels	Pair Corr
0.78	AZEK	Azek Company	Pair Corr
0.8	BLDR	Builders FirstSource	Pair Corr
0.81	TILE	Interface	Pair Corr
0.83	TREX	Trex Company	Pair Corr
0.94	J	Jacobs Solutions	Pair Corr
0.68	R	Ryder System Earnings Call This Week	Pair Corr
0.63	AP	Ampco Pittsburgh	Pair Corr

Moving against Fortune Stock

0.51	ROCK	Gibraltar Industries	Pair Corr
0.67	EH	Ehang Holdings	Pair Corr
0.44	G	Genpact Limited	Pair Corr
0.33	GE	GE Aerospace	Pair Corr
0.32	DE	Deere Company	Pair Corr

Related Correlations Analysis

	TT	JCI	LII	BLDR	CSL	MAS	NX	JELD	AZEK	LPX
TT		-0.2	0.78	0.52	0.86	0.38	0.83	0.76	0.6	0.53	TT
JCI	-0.2		0.03	0.0	-0.35	0.18	-0.18	-0.17	0.22	0.12	JCI
LII	0.78	0.03		0.5	0.71	0.55	0.7	0.55	0.54	0.43	LII
BLDR	0.52	0.0	0.5		0.7	0.88	0.34	0.78	0.84	0.95	BLDR
CSL	0.86	-0.35	0.71	0.7		0.55	0.77	0.88	0.68	0.67	CSL
MAS	0.38	0.18	0.55	0.88	0.55		0.25	0.63	0.74	0.8	MAS
NX	0.83	-0.18	0.7	0.34	0.77	0.25		0.7	0.54	0.38	NX
JELD	0.76	-0.17	0.55	0.78	0.88	0.63	0.7		0.72	0.8	JELD
AZEK	0.6	0.22	0.54	0.84	0.68	0.74	0.54	0.72		0.87	AZEK
LPX	0.53	0.12	0.43	0.95	0.67	0.8	0.38	0.8	0.87		LPX
	TT	JCI	LII	BLDR	CSL	MAS	NX	JELD	AZEK	LPX

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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

LPX	+ 0.95	BLDR
MAS	+ 0.88	BLDR
JELD	+ 0.88	CSL
LPX	+ 0.87	AZEK
CSL	+ 0.86	TT
AZEK	+ 0.84	BLDR

High negative correlations

CSL	- 0.35	JCI
JCI	- 0.2	TT
NX	- 0.18	JCI
JELD	- 0.17	JCI
BLDR	- 0.0	JCI

Risk-Adjusted Indicators

There is a big difference between Fortune Stock performing well and Fortune Brands 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 Fortune Brands' 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
TT	1.22	(0.10)	0.00	0.24	0.00	0.00	2.11	(2.33)	10.34
JCI	1.40	0.10	0.06	0.08	1.59	(1.69)	2.53	(2.67)	15.29
LII	1.64	(0.13)	0.00	(0.09)	0.00	0.00	2.93	(3.33)	11.28
BLDR	1.80	(0.21)	0.00	(0.12)	0.00	0.00	4.17	(3.87)	10.46
CSL	1.36	(0.14)	0.00	(0.14)	0.00	0.00	2.32	(2.27)	11.26
MAS	1.21	(0.07)	0.00	(0.06)	0.00	0.00	2.35	(2.24)	6.69
NX	2.35	(0.40)	0.00	5.28	0.00	0.00	4.08	(4.78)	17.75
JELD	2.82	(0.45)	0.00	(0.68)	0.00	0.00	4.71	(6.14)	33.01
AZEK	1.96	0.03	0.01	0.01	2.26	(2.17)	4.06	(3.45)	16.38
LPX	1.51	(0.14)	0.00	(0.11)	0.00	0.00	3.22	(3.01)	14.91

Fortune Brands Corporate Management

Hiranda Donoghue	Chief VP	Profile
Dong Lee	Executive Officer	Profile
Danny Luburic	Executive Officer	Profile
Ron Wilson	Executive Officer	Profile

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