Topbuild Corp Correlations

BLD Stock  USD 389.81  1.07  0.28%   
The correlation of Topbuild Corp 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Topbuild Corp moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Topbuild Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Poor diversification

The correlation between Topbuild Corp and NYA is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Topbuild Corp and NYA in the same portfolio, assuming nothing else is changed.
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Topbuild Corp. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in bureau of economic analysis.
For information on how to trade Topbuild Stock refer to our How to Trade Topbuild Stock guide.
  
The ability to find closely correlated positions to Topbuild Corp could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Topbuild Corp when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Topbuild Corp - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Topbuild Corp to buy it.

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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   
EMEFIX
GVAEME
FIXAPG
EMEAPG
MTZAPG
DYEME
  
High negative correlations   
AMRCFIX
EMEAMRC
AMRCAPG
DYAMRC
MTZAMRC
AMRCMYRG

Risk-Adjusted Indicators

There is a big difference between Topbuild Stock performing well and Topbuild Corp 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 Topbuild Corp'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
APG  1.28  0.17  0.13  0.14  1.38 
 2.78 
 8.67 
MYRG  1.90  0.14  0.07  0.11  2.40 
 3.25 
 8.98 
FIX  1.84  0.53  0.29  0.33  1.53 
 4.03 
 17.56 
ROAD  1.60  0.29  0.13  0.22  2.12 
 3.22 
 10.85 
ACA  1.34 (0.13) 0.00 (0.02) 0.00 
 2.32 
 8.34 
AMRC  3.95 (0.59) 0.00 (0.10) 0.00 
 6.80 
 20.94 
EME  1.25  0.63  0.52  0.80  0.47 
 2.81 
 12.73 
DY  1.27  0.19  0.13  0.17  1.47 
 2.55 
 6.91 
GVA  1.17  0.15  0.13  0.16  1.13 
 2.38 
 7.39 
MTZ  2.24  0.12  0.07  0.09  2.60 
 3.53 
 16.74 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Topbuild Corp without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Topbuild Corp Corporate Directors

Topbuild Corp corporate directors refer to members of a Topbuild Corp board of directors. The board of directors generally takes responsibility for the Topbuild Corp's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Topbuild Corp's board members must vote for the resolution. The Topbuild Corp board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.
Dennis ArcherIndependent DirectorProfile
Ernesto BautistaIndependent DirectorProfile
Margaret WhelanIndependent DirectorProfile
Joseph CantieIndependent DirectorProfile

Already Invested in Topbuild Corp?

The danger of trading Topbuild Corp is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Topbuild Corp is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Topbuild Corp. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Topbuild Corp is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Topbuild Corp is a strong investment it is important to analyze Topbuild Corp's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Topbuild Corp's future performance. For an informed investment choice regarding Topbuild Stock, refer to the following important reports:
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Topbuild Corp. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in bureau of economic analysis.
For information on how to trade Topbuild Stock refer to our How to Trade Topbuild Stock guide.
You can also try the Money Managers module to screen money managers from public funds and ETFs managed around the world.

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Is Topbuild Corp's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Topbuild Corp. If investors know Topbuild will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Topbuild Corp listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth
0.019
Earnings Share
19.32
Revenue Per Share
164.402
Quarterly Revenue Growth
0.017
Return On Assets
0.1145
The market value of Topbuild Corp is measured differently than its book value, which is the value of Topbuild that is recorded on the company's balance sheet. Investors also form their own opinion of Topbuild Corp's value that differs from its market value or its book value, called intrinsic value, which is Topbuild Corp's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Topbuild Corp's market value can be influenced by many factors that don't directly affect Topbuild Corp's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Topbuild Corp's value and its price as these two are different measures arrived at by different means. Investors typically determine if Topbuild Corp is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Topbuild Corp's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.