MI Homes Correlations

MHO Stock

USD 115.91 0.12 0.10%

The current 90-days correlation between MI Homes and TRI Pointe Homes is 0.7 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as MI Homes moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if MI Homes moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

MI Homes Correlation With Market

Weak diversification

The correlation between MI Homes and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MI Homes 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 MI Homes. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in rate.

To learn how to invest in MHO Stock, please use our How to Invest in MI Homes guide.

Moving together with MHO Stock

0.84	BC	Brunswick	Pair Corr
0.9	UA	Under Armour C	Pair Corr
0.64	DOGZ	Dogness International	Pair Corr
0.8	DOOO	BRP Inc Earnings Call This Week	Pair Corr
0.71	VMAR	Vision Marine Techno	Pair Corr
0.68	WLDS	Wearable Devices	Pair Corr
0.8	EZGO	EZGO Technologies	Pair Corr
0.7	BLD	Topbuild Corp	Pair Corr
0.94	BZH	Beazer Homes USA	Pair Corr
0.87	CCS	Century Communities	Pair Corr
0.68	FOSL	Fossil Group	Pair Corr
0.65	CRI	Carters	Pair Corr
0.78	DFH	Dream Finders Homes	Pair Corr
0.93	DHI	DR Horton	Pair Corr
0.65	DTC	Solo Brands	Pair Corr
0.75	HBI	Hanesbrands	Pair Corr
0.83	HOV	Hovnanian Enterprises	Pair Corr
0.74	HWH	HWH International	Pair Corr
0.72	IBP	Installed Building	Pair Corr
0.91	KBH	KB Home	Pair Corr
0.98	LEN	Lennar	Pair Corr
0.74	MPX	Marine Products	Pair Corr
0.91	MTH	Meritage	Pair Corr

Moving against MHO Stock

0.52	RL	Ralph Lauren Corp Sell-off Trend	Pair Corr
0.41	GIL	Gildan Activewear	Pair Corr
0.34	AS	Amer Sports,	Pair Corr
0.74	TPR	Tapestry	Pair Corr
0.62	MAT	Mattel Inc	Pair Corr
0.4	RGR	Sturm Ruger	Pair Corr

Related Correlations Analysis

	TPH	BZH	CCS	MTH	TMHC	LGIH	HOV	KBH	MDC
TPH		0.83	0.86	0.86	0.71	0.96	0.92	0.92	0.0	TPH
BZH	0.83		0.78	0.84	0.56	0.9	0.84	0.84	0.0	BZH
CCS	0.86	0.78		0.94	0.81	0.91	0.89	0.96	0.0	CCS
MTH	0.86	0.84	0.94		0.82	0.89	0.85	0.97	0.0	MTH
TMHC	0.71	0.56	0.81	0.82		0.71	0.72	0.8	0.0	TMHC
LGIH	0.96	0.9	0.91	0.89	0.71		0.97	0.94	0.0	LGIH
HOV	0.92	0.84	0.89	0.85	0.72	0.97		0.91	0.0	HOV
KBH	0.92	0.84	0.96	0.97	0.8	0.94	0.91		0.0	KBH
MDC	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		MDC
	TPH	BZH	CCS	MTH	TMHC	LGIH	HOV	KBH	MDC

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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

KBH	+ 0.97	MTH
HOV	+ 0.97	LGIH
LGIH	+ 0.96	TPH
KBH	+ 0.96	CCS
MTH	+ 0.94	CCS
KBH	+ 0.94	LGIH

High negative correlations

MDC	- 0.0	KBH
MDC	- 0.0	HOV
MDC	- 0.0	LGIH
MDC	- 0.0	TMHC
MDC	- 0.0	MTH
MDC	- 0.0	CCS

Risk-Adjusted Indicators

There is a big difference between MHO Stock performing well and MI Homes 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 MI Homes' 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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
TPH	1.65	(0.34)	(0.46)	3.08	(3.26)	14.22
BZH	2.24	(0.44)	(0.39)	3.76	(3.75)	24.99
CCS	1.73	(0.26)	(0.37)	4.10	(3.25)	8.95
MTH	1.67	(0.30)	(0.39)	2.79	(3.81)	8.89
TMHC	1.55	(0.15)	(0.24)	3.35	(3.18)	8.18
LGIH	2.01	(0.47)	(0.47)	3.32	(4.15)	10.51
HOV	2.55	(0.45)	(0.35)	4.35	(4.91)	23.60
KBH	1.55	(0.32)	(0.48)	3.40	(3.29)	9.30
MDC	0.00	0.00	0.00	0.00	0.00	0.00

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