Meritage Correlations

MTH Stock

USD 69.86 0.60 0.85%

The current 90-days correlation between Meritage and TRI Pointe Homes is 0.66 (i.e., Poor diversification). The correlation of Meritage 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.

Meritage Correlation With Market

Very weak diversification

The correlation between Meritage 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 Meritage 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 Meritage. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

For more detail on how to invest in Meritage Stock please use our How to Invest in Meritage guide.

Moving together with Meritage Stock

0.88	BC	Brunswick	Pair Corr
0.88	UA	Under Armour C	Pair Corr
0.71	DOOO	BRP Inc Earnings Call This Week	Pair Corr
0.62	VMAR	Vision Marine Techno	Pair Corr
0.63	EZGO	EZGO Technologies	Pair Corr
0.86	BLD	Topbuild Corp	Pair Corr
0.84	BZH	Beazer Homes USA	Pair Corr
0.94	CCS	Century Communities	Pair Corr
0.77	DFH	Dream Finders Homes	Pair Corr
0.94	DHI	DR Horton	Pair Corr
0.62	DTC	Solo Brands	Pair Corr
0.69	HBI	Hanesbrands	Pair Corr
0.85	HOV	Hovnanian Enterprises	Pair Corr
0.65	HWH	HWH International	Pair Corr
0.87	IBP	Installed Building	Pair Corr
0.97	KBH	KB Home	Pair Corr
0.95	LEN	Lennar	Pair Corr
0.91	MHO	MI Homes	Pair Corr
0.76	MPX	Marine Products	Pair Corr

Moving against Meritage Stock

0.32	RL	Ralph Lauren Corp Sell-off Trend	Pair Corr
0.55	TPR	Tapestry	Pair Corr
0.45	MAT	Mattel Inc	Pair Corr
0.33	RGR	Sturm Ruger	Pair Corr

Related Correlations Analysis

	TPH	MHO	BZH	CCS	TMHC	LGIH	HOV	KBH
TPH		0.85	0.83	0.86	0.71	0.96	0.92	0.92	TPH
MHO	0.85		0.94	0.87	0.6	0.91	0.83	0.91	MHO
BZH	0.83	0.94		0.78	0.56	0.9	0.84	0.84	BZH
CCS	0.86	0.87	0.78		0.81	0.91	0.89	0.96	CCS
TMHC	0.71	0.6	0.56	0.81		0.71	0.72	0.8	TMHC
LGIH	0.96	0.91	0.9	0.91	0.71		0.97	0.94	LGIH
HOV	0.92	0.83	0.84	0.89	0.72	0.97		0.91	HOV
KBH	0.92	0.91	0.84	0.96	0.8	0.94	0.91		KBH
	TPH	MHO	BZH	CCS	TMHC	LGIH	HOV	KBH

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Risk-Adjusted Indicators

There is a big difference between Meritage Stock performing well and Meritage 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 Meritage'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
TPH	1.65	(0.34)	(0.46)	3.08	(3.26)	14.22
MHO	1.65	(0.41)	(0.55)	2.61	(3.53)	10.34
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
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

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