Legacy Housing Correlations

LEGH Stock

USD 25.74 0.37 1.42%

The current 90-days correlation between Legacy Housing Corp and Beazer Homes USA is 0.49 (i.e., Very weak diversification). The correlation of Legacy Housing 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.

Legacy Housing Correlation With Market

Very weak diversification

The correlation between Legacy Housing Corp and DJI is 0.42 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Legacy Housing Corp and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Legacy Housing Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with Legacy Stock

0.66

PDD

PDD Holdings

Pair Corr

Moving against Legacy Stock

0.38	UA	Under Armour C	Pair Corr
0.37	VNCE	Vince Holding Corp	Pair Corr
0.36	MHO	MI Homes	Pair Corr
0.31	BZH	Beazer Homes USA	Pair Corr

Related Correlations Analysis

	MHO	TMHC	TPH	BZH	LGIH	CCS	CVCO	SKY	IBP	MTH
MHO		0.45	0.81	0.93	0.87	0.79	-0.69	-0.34	0.61	0.87	MHO
TMHC	0.45		0.64	0.44	0.63	0.74	0.06	0.12	0.84	0.77	TMHC
TPH	0.81	0.64		0.79	0.95	0.84	-0.55	-0.24	0.78	0.85	TPH
BZH	0.93	0.44	0.79		0.88	0.71	-0.73	-0.33	0.52	0.81	BZH
LGIH	0.87	0.63	0.95	0.88		0.88	-0.57	-0.2	0.73	0.87	LGIH
CCS	0.79	0.74	0.84	0.71	0.88		-0.23	0.07	0.8	0.9	CCS
CVCO	-0.69	0.06	-0.55	-0.73	-0.57	-0.23		0.79	-0.2	-0.44	CVCO
SKY	-0.34	0.12	-0.24	-0.33	-0.2	0.07	0.79		-0.17	-0.22	SKY
IBP	0.61	0.84	0.78	0.52	0.73	0.8	-0.2	-0.17		0.83	IBP
MTH	0.87	0.77	0.85	0.81	0.87	0.9	-0.44	-0.22	0.83		MTH
	MHO	TMHC	TPH	BZH	LGIH	CCS	CVCO	SKY	IBP	MTH

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

High negative correlations

CVCO	- 0.73	BZH
CVCO	- 0.69	MHO
CVCO	- 0.57	LGIH
CVCO	- 0.55	TPH
MTH	- 0.44	CVCO
SKY	- 0.34	MHO

Risk-Adjusted Indicators

There is a big difference between Legacy Stock performing well and Legacy Housing 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 Legacy Housing'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
MHO	1.66	(0.34)	0.00	(0.45)	0.00	0.00	2.61	(3.53)	10.34
TMHC	1.54	(0.05)	0.00	(0.12)	0.00	0.00	3.35	(3.11)	8.18
TPH	1.62	(0.25)	0.00	(0.34)	0.00	0.00	3.08	(3.26)	14.22
BZH	2.26	(0.40)	0.00	(0.34)	0.00	0.00	3.76	(3.75)	24.99
LGIH	1.96	(0.42)	0.00	(0.41)	0.00	0.00	3.32	(4.15)	10.51
CCS	1.73	(0.19)	0.00	(0.27)	0.00	0.00	4.10	(3.25)	8.95
CVCO	1.55	0.17	0.10	0.09	1.59	(1.81)	3.59	(2.30)	9.62
SKY	1.85	(0.05)	0.00	(0.11)	0.00	0.00	3.62	(3.32)	16.82
IBP	1.76	(0.10)	0.00	(0.15)	0.00	0.00	3.74	(4.87)	12.76
MTH	1.63	(0.17)	0.00	(0.23)	0.00	0.00	2.80	(3.68)	8.89

Legacy Housing Corporate Management

Charles IV	Chief Officer	Profile
Ronald Arrington	Chief Officer	Profile
Jeffrey Fiedelman	Chief Officer	Profile
Mary Saenz	Director Compliance	Profile
Curtis Hodgson	CoFounder Chairman	Profile
Mick Barker	Chief Manager	Profile

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