GMS Correlations
GMS Stock | USD 73.19 0.87 1.20% |
The current 90-days correlation between GMS Inc and Azek Company is 0.53 (i.e., Very weak diversification). The correlation of GMS 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.
GMS Correlation With Market
Very weak diversification
The correlation between GMS Inc and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding GMS Inc and DJI in the same portfolio, assuming nothing else is changed.
GMS |
Moving together with GMS Stock
0.88 | NX | Quanex Building Products | PairCorr |
0.87 | OC | Owens Corning | PairCorr |
0.8 | TT | Trane Technologies plc | PairCorr |
0.88 | FBIN | Fortune Brands Innov | PairCorr |
0.85 | CSL | Carlisle Companies | PairCorr |
0.65 | LII | Lennox International | PairCorr |
0.64 | LMB | Limbach Holdings | PairCorr |
0.77 | LPX | Louisiana Pacific | PairCorr |
0.62 | MAS | Masco | PairCorr |
0.75 | WMS | Advanced Drainage Systems | PairCorr |
0.77 | ILAG | Intelligent Living | PairCorr |
0.83 | JELD | Jeld Wen Holding | PairCorr |
0.8 | PPIH | Perma Pipe Internati | PairCorr |
0.79 | AAON | AAON Inc | PairCorr |
0.67 | AEHL | Antelope Enterprise | PairCorr |
0.77 | APOG | Apogee Enterprises | PairCorr |
0.77 | ASPN | Aspen Aerogels Sell-off Trend | PairCorr |
0.91 | AZEK | Azek Company | PairCorr |
0.85 | SPXC | SPX Corp | PairCorr |
0.81 | BLDR | Builders FirstSource | PairCorr |
0.92 | TREX | Trex Company | PairCorr |
0.66 | CARR | Carrier Global Corp | PairCorr |
0.94 | CSTE | Caesarstone | PairCorr |
0.74 | J | Jacobs Solutions | PairCorr |
0.62 | R | Ryder System | PairCorr |
0.63 | AL | Air Lease | PairCorr |
Moving against GMS Stock
Related Correlations Analysis
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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
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Risk-Adjusted Indicators
There is a big difference between GMS Stock performing well and GMS 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 GMS'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 | ||
---|---|---|---|---|---|---|---|---|---|---|
NX | 2.36 | (0.42) | 0.00 | (0.46) | 0.00 | 4.11 | 17.72 | |||
APOG | 1.80 | (0.64) | 0.00 | (0.66) | 0.00 | 3.11 | 20.51 | |||
AZEK | 1.70 | (0.22) | 0.00 | (0.24) | 0.00 | 2.93 | 11.78 | |||
BECN | 1.12 | 0.16 | 0.16 | 0.16 | 1.11 | 3.23 | 10.10 | |||
JBI | 2.12 | 0.31 | 0.11 | 0.19 | 2.56 | 5.26 | 19.17 | |||
DOOR | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
ROCK | 1.52 | 0.01 | 0.00 | (0.10) | 0.00 | 3.06 | 15.02 | |||
TILE | 1.63 | (0.36) | 0.00 | (0.48) | 0.00 | 3.06 | 15.09 | |||
JELD | 2.87 | (0.68) | 0.00 | (1.21) | 0.00 | 4.69 | 33.01 |