Jeld Wen Correlations

JELD Stock

USD 5.95 0.23 3.72%

The current 90-days correlation between Jeld Wen Holding and Quanex Building Products is 0.51 (i.e., Very weak diversification). The correlation of Jeld Wen 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.

Jeld Wen Correlation With Market

Average diversification

The correlation between Jeld Wen Holding and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Jeld Wen Holding and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Jeld Wen Holding. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with Jeld Stock

0.77	NX	Quanex Building Products	Pair Corr
0.89	OC	Owens Corning	Pair Corr
0.79	TT	Trane Technologies plc	Pair Corr
0.92	FBIN	Fortune Brands Innov	Pair Corr
0.9	CSL	Carlisle Companies	Pair Corr
0.81	GMS	GMS Inc	Pair Corr
0.63	LPX	Louisiana Pacific	Pair Corr
0.62	MAS	Masco	Pair Corr
0.74	ILAG	Intelligent Living	Pair Corr
0.75	PPIH	Perma Pipe Internati	Pair Corr
0.86	ASPN	Aspen Aerogels	Pair Corr
0.79	AZEK	Azek Company	Pair Corr
0.64	BLDR	Builders FirstSource	Pair Corr
0.69	TREX	Trex Company	Pair Corr
0.88	J	Jacobs Solutions	Pair Corr
0.88	BV	BrightView Holdings	Pair Corr

Moving against Jeld Stock

0.49	ROCK	Gibraltar Industries Downward Rally	Pair Corr
0.78	PC	Premium Catering	Pair Corr
0.72	EH	Ehang Holdings	Pair Corr
0.64	BZ	Kanzhun Ltd ADR	Pair Corr
0.55	LZ	LegalZoom	Pair Corr
0.41	DE	Deere Company	Pair Corr
0.38	GE	GE Aerospace	Pair Corr

Related Correlations Analysis

	ROCK	NX	PPIH	TILE	JBI	PGTI	APOG	AWI
ROCK		-0.33	-0.32	-0.56	0.51	0.0	-0.28	0.18	ROCK
NX	-0.33		0.65	0.84	-0.47	0.0	0.86	0.05	NX
PPIH	-0.32	0.65		0.76	-0.15	0.0	0.45	0.36	PPIH
TILE	-0.56	0.84	0.76		-0.42	0.0	0.71	0.14	TILE
JBI	0.51	-0.47	-0.15	-0.42		0.0	-0.53	0.48	JBI
PGTI	0.0	0.0	0.0	0.0	0.0		0.0	0.0	PGTI
APOG	-0.28	0.86	0.45	0.71	-0.53	0.0		-0.21	APOG
AWI	0.18	0.05	0.36	0.14	0.48	0.0	-0.21		AWI
	ROCK	NX	PPIH	TILE	JBI	PGTI	APOG	AWI

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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

APOG	+ 0.86	NX
TILE	+ 0.84	NX
TILE	+ 0.76	PPIH
APOG	+ 0.71	TILE
PPIH	+ 0.65	NX
JBI	+ 0.51	ROCK

High negative correlations

TILE	- 0.56	ROCK
APOG	- 0.53	JBI
JBI	- 0.47	NX
JBI	- 0.42	TILE
NX	- 0.33	ROCK
PPIH	- 0.32	ROCK

Risk-Adjusted Indicators

There is a big difference between Jeld Stock performing well and Jeld Wen 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 Jeld Wen'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	1.59	(0.06)	0.00	(0.13)	0.00	0.00	3.06	(4.25)	15.02
NX	2.35	(0.41)	0.00	(0.40)	0.00	0.00	4.08	(4.81)	17.75
PPIH	2.74	(0.14)	0.00	(0.27)	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
JBI	2.14	0.11	0.04	0.03	2.64	(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
APOG	1.77	(0.63)	0.00	(0.64)	0.00	0.00	3.11	(3.74)	20.51
AWI	1.21	(0.04)	0.00	(0.10)	0.00	0.00	2.26	(2.25)	8.90

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