Summit Materials Correlations

Summary

SUMDelisted Stock

USD 52.49 0.10 0.19%

The current 90-days correlation between Summit Materials and James Hardie Industries is 0.01 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Summit Materials moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Summit Materials moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Summit Materials Correlation With Market

Good diversification

The correlation between Summit Materials and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Summit Materials and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in employment.

Moving together with Summit Stock

0.71	ATCOL	Atlas Corp	Pair Corr
0.73	MBFJF	Mitsubishi UFJ Financial Normal Trading	Pair Corr
0.67	NVRO	Nevro Corp	Pair Corr
0.64	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.61	VZ	Verizon Communications	Pair Corr
0.73	JNJ	Johnson Johnson	Pair Corr
0.62	GE	GE Aerospace	Pair Corr

Moving against Summit Stock

0.73	PBCRY	Bank Central Asia	Pair Corr
0.72	PCTTW	PureCycle Technologies	Pair Corr
0.67	PPERY	Bank Mandiri Persero	Pair Corr
0.66	PPERF	Bank Mandiri Persero	Pair Corr
0.58	BKRKY	Bank Rakyat	Pair Corr
0.35	ADVWW	Advantage Solutions	Pair Corr
0.35	BA	Boeing	Pair Corr
0.72	MSFT	Microsoft	Pair Corr
0.55	DIS	Walt Disney	Pair Corr
0.51	HPQ	HP Inc	Pair Corr
0.49	HD	Home Depot	Pair Corr
0.45	MRK	Merck Company	Pair Corr
0.37	BAC	Bank of America Sell-off Trend	Pair Corr

Related Correlations Analysis

	MLM	VMC	USLM	JHX	LOMA	EXP	CPAC	CRH	MCEM
MLM		0.97	0.75	0.65	0.64	0.97	0.02	0.12	-0.45	MLM
VMC	0.97		0.66	0.64	0.62	0.96	0.12	0.27	-0.29	VMC
USLM	0.75	0.66		0.24	0.75	0.78	-0.31	-0.4	-0.82	USLM
JHX	0.65	0.64	0.24		0.2	0.65	0.5	0.4	-0.02	JHX
LOMA	0.64	0.62	0.75	0.2		0.7	-0.07	-0.22	-0.55	LOMA
EXP	0.97	0.96	0.78	0.65	0.7		0.08	0.11	-0.44	EXP
CPAC	0.02	0.12	-0.31	0.5	-0.07	0.08		0.59	0.48	CPAC
CRH	0.12	0.27	-0.4	0.4	-0.22	0.11	0.59		0.7	CRH
MCEM	-0.45	-0.29	-0.82	-0.02	-0.55	-0.44	0.48	0.7		MCEM
	MLM	VMC	USLM	JHX	LOMA	EXP	CPAC	CRH	MCEM

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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	+ 0.97	MLM
EXP	+ 0.97	MLM
EXP	+ 0.96	VMC
EXP	+ 0.78	USLM
USLM	+ 0.75	MLM
LOMA	+ 0.75	USLM

High negative correlations

MCEM	- 0.82	USLM
MCEM	- 0.55	LOMA
MCEM	- 0.45	MLM
MCEM	- 0.44	EXP
CRH	- 0.4	USLM
CPAC	- 0.31	USLM

Risk-Adjusted Indicators

There is a big difference between Summit Stock performing well and Summit Materials 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 Summit Materials' 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
MLM	1.13	(0.15)	0.00	(0.25)	0.00	0.00	2.63	(2.60)	6.66
VMC	1.28	(0.16)	0.00	(0.26)	0.00	0.00	2.09	(2.85)	9.19
USLM	1.88	(0.58)	0.00	(0.51)	0.00	0.00	2.67	(5.51)	9.59
JHX	1.39	(0.17)	0.00	0.47	0.00	0.00	3.40	(3.29)	8.04
LOMA	2.52	(0.25)	0.00	0.30	0.00	0.00	5.19	(6.37)	13.80
EXP	1.36	(0.29)	0.00	(0.37)	0.00	0.00	2.25	(3.43)	7.34
CPAC	1.37	(0.04)	0.00	0.49	0.00	0.00	3.04	(2.90)	10.27
CRH	1.55	0.09	0.03	0.00	2.11	(1.47)	3.30	(3.84)	10.53
MCEM	0.74	0.04	0.10	0.87	0.90	(0.81)	2.10	(1.44)	5.74

Summit Materials Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Summit Materials stock to make a market-neutral strategy. Peer analysis of Summit Materials could also be used in its relative valuation, which is a method of valuing Summit Materials by comparing valuation metrics with similar companies.

Martin Marietta Materials Vulcan Materials United States Lime James Hardie Industries Loma Negra Compania Eagle Materials Cementos Pacasmayo SAA CRH PLC ADR The Monarch Cement American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne

Risk & Return

Correlation

Still Interested in Summit Materials?

Investing in delisted delisted stocks can be risky, as the stock is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.

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