Martin Marietta Correlations

Stocks . USA . 
Stock . Martin Marietta Materials
MLM Stock  USD 488.30  2.39  0.49%   
The current 90-days correlation between Martin Marietta Materials and CRH PLC ADR is 0.65 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Martin Marietta moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Martin Marietta Materials moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Martin Marietta Correlation With Market

Very weak diversification

The correlation between Martin Marietta Materials and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Martin Marietta Materials 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 Martin Marietta Materials. 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 Martin Stock

  0.97BCC Boise Cascad LlcPairCorr
  0.98EXP Eagle MaterialsPairCorr
  0.95KNF Knife RiverPairCorr
  0.97VMC Vulcan MaterialsPairCorr
  0.78ZJK ZJK Industrial Co, Upward RallyPairCorr
  0.64LOMA Loma Negra CompaniaPairCorr
  0.72SMID Smith Midland CorpPairCorr
  0.86TGLS TecnoglassPairCorr
  0.74USLM United States LimePairCorr
  0.79AA Alcoa CorpPairCorr
  0.94CC ChemoursPairCorr
  0.91CE CelanesePairCorr
  0.79CF CF Industries HoldingsPairCorr
  0.85EU enCore Energy CorpPairCorr
  0.87FF FutureFuel CorpPairCorr
  0.74NX Quanex Building ProductsPairCorr
  0.96OC Owens CorningPairCorr
  0.63SA Seabridge GoldPairCorr
  0.75TT Trane Technologies plcPairCorr

Moving against Martin Stock

  0.4AG First Majestic SilverPairCorr
  0.37X United States Steel Buyout TrendPairCorr
  0.72MT ArcelorMittal SA ADRPairCorr
  0.6DC Dakota Gold CorpPairCorr
  0.54NC NACCO IndustriesPairCorr
  0.49MP MP Materials CorpPairCorr
  0.43AU AngloGold Ashanti plcPairCorr
  0.55VALE Vale SA ADRPairCorr
  0.49TX Ternium SA ADRPairCorr
  0.36VOXR Vox Royalty CorpPairCorr
  0.34HYMCL Hycroft Mining HoldingPairCorr

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   
VMC
+ 0.96
EXP
CX
+ 0.83
CRH
USLM
+ 0.75
EXP
VMC
+ 0.65
USLM
CPAC
+ 0.62
CRH
CPAC
+ 0.56
CX
  
High negative correlations   
USLM
- 0.83
SUM
SUM
- 0.7
EXP
CX
- 0.61
USLM
VMC
- 0.58
SUM
CPAC
- 0.56
USLM
USLM
- 0.42
CRH

Risk-Adjusted Indicators

There is a big difference between Martin Stock performing well and Martin Marietta 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 Martin Marietta'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.

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