Trex Correlations

TREX Stock

USD 59.75 0.72 1.22%

The current 90-days correlation between Trex Company and Quanex Building Products is 0.41 (i.e., Very weak diversification). The correlation of Trex 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Trex Correlation With Market

Poor diversification

The correlation between Trex Company and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Trex Company and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Trex Stock

0.79	NX	Quanex Building Products	Pair Corr
0.95	OC	Owens Corning	Pair Corr
0.81	TT	Trane Technologies plc	Pair Corr
0.92	FBIN	Fortune Brands Innov	Pair Corr
0.88	CSL	Carlisle Companies	Pair Corr
0.94	GMS	GMS Inc	Pair Corr
0.65	LII	Lennox International	Pair Corr
0.89	LPX	Louisiana Pacific	Pair Corr
0.66	MAS	Masco	Pair Corr
0.77	WMS	Advanced Drainage Systems	Pair Corr
0.81	ILAG	Intelligent Living	Pair Corr
0.92	JELD	Jeld Wen Holding	Pair Corr
0.81	PPIH	Perma Pipe Internati	Pair Corr
0.89	AAON	AAON Inc	Pair Corr
0.63	AIRJ	Montana Technologies	Pair Corr
0.64	APOG	Apogee Enterprises	Pair Corr
0.84	ASPN	Aspen Aerogels Downward Rally	Pair Corr
0.94	AZEK	Azek Company	Pair Corr
0.9	BLDR	Builders FirstSource	Pair Corr
0.92	CSTE	Caesarstone	Pair Corr
0.9	J	Jacobs Solutions	Pair Corr
0.63	R	Ryder System	Pair Corr
0.93	BV	BrightView Holdings	Pair Corr

Moving against Trex Stock

0.72	BZ	Kanzhun Ltd ADR	Pair Corr
0.69	EH	Ehang Holdings Downward Rally	Pair Corr
0.62	PC	Premium Catering	Pair Corr
0.53	LZ	LegalZoom	Pair Corr
0.39	DE	Deere Company	Pair Corr
0.39	GE	GE Aerospace	Pair Corr
0.34	MG	Mistras Group	Pair Corr

Related Correlations Analysis

	NX	AWI	ROCK	APOG	MAS	OC	JCI	BLDR	LII	FBIN
NX		0.16	-0.09	0.88	0.32	0.68	-0.02	0.6	0.74	0.82	NX
AWI	0.16		0.29	-0.11	0.81	0.48	0.59	0.55	0.35	0.4	AWI
ROCK	-0.09	0.29		-0.09	0.05	-0.33	0.06	-0.2	0.07	-0.16	ROCK
APOG	0.88	-0.11	-0.09		0.0	0.42	-0.21	0.34	0.5	0.55	APOG
MAS	0.32	0.81	0.05	0.0		0.78	0.26	0.88	0.54	0.71	MAS
OC	0.68	0.48	-0.33	0.42	0.78		0.14	0.95	0.65	0.91	OC
JCI	-0.02	0.59	0.06	-0.21	0.26	0.14		0.01	0.09	-0.04	JCI
BLDR	0.6	0.55	-0.2	0.34	0.88	0.95	0.01		0.62	0.91	BLDR
LII	0.74	0.35	0.07	0.5	0.54	0.65	0.09	0.62		0.78	LII
FBIN	0.82	0.4	-0.16	0.55	0.71	0.91	-0.04	0.91	0.78		FBIN
	NX	AWI	ROCK	APOG	MAS	OC	JCI	BLDR	LII	FBIN

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

BLDR	+ 0.95	OC
FBIN	+ 0.91	OC
FBIN	+ 0.91	BLDR
APOG	+ 0.88	NX
BLDR	+ 0.88	MAS
FBIN	+ 0.82	NX

High negative correlations

OC	- 0.33	ROCK
JCI	- 0.21	APOG
BLDR	- 0.2	ROCK
FBIN	- 0.16	ROCK
APOG	- 0.11	AWI
APOG	- 0.09	ROCK

Risk-Adjusted Indicators

There is a big difference between Trex Stock performing well and Trex 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 Trex'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
NX	2.35	(0.43)	0.00	(0.41)	0.00	0.00	4.08	(4.81)	17.75
AWI	1.22	(0.05)	0.00	(0.11)	0.00	0.00	2.26	(2.25)	8.90
ROCK	1.53	0.01	0.00	(0.07)	0.00	0.00	3.06	(3.45)	15.02
APOG	1.82	(0.66)	0.00	(0.67)	0.00	0.00	3.11	(3.74)	20.51
MAS	1.23	(0.07)	0.00	(0.15)	0.00	0.00	2.35	(2.45)	6.69
OC	1.58	(0.32)	0.00	(0.29)	0.00	0.00	2.81	(3.36)	6.87
JCI	1.44	0.08	0.04	0.00	1.78	(1.71)	2.45	(3.62)	15.28
BLDR	1.83	(0.32)	0.00	(0.29)	0.00	0.00	4.05	(4.12)	10.46
LII	1.61	(0.05)	0.00	(0.11)	0.00	0.00	2.64	(3.33)	11.28
FBIN	1.30	(0.24)	0.00	(0.33)	0.00	0.00	2.49	(3.04)	7.58

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC