Beacon Roofing Correlations
| BECN Stock | USD 97.03 0.33 0.34% |
The current 90-days correlation between Beacon Roofing Supply and MSC Industrial Direct is 0.31 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Beacon Roofing moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Beacon Roofing Supply moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Beacon Roofing Correlation With Market
Very weak diversification
The correlation between Beacon Roofing Supply and NYA 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 Beacon Roofing Supply and NYA in the same portfolio, assuming nothing else is changed.
Beacon |
Moving together with Beacon Stock
Moving against Beacon Stock
| 0.69 | AZ | A2Z Smart Technologies | PairCorr |
| 0.33 | TITN | Titan Machinery | PairCorr |
| 0.33 | AP | Ampco Pittsburgh | PairCorr |
| 0.38 | HA | Hawaiian Holdings | PairCorr |
| 0.33 | CP | Canadian Pacific Railway Sell-off Trend | PairCorr |
| 0.33 | GP | GreenPower Motor Financial Report 12th of July 2024 | PairCorr |
Related Correlations Analysis
| -0.01 | 0.25 | 0.7 | 0.23 | 0.43 | 0.14 | DSGR | ||
| -0.01 | 0.81 | 0.28 | 0.88 | -0.81 | 0.92 | GIC | ||
| 0.25 | 0.81 | 0.35 | 0.9 | -0.57 | 0.85 | MSM | ||
| 0.7 | 0.28 | 0.35 | 0.37 | 0.03 | 0.35 | DXPE | ||
| 0.23 | 0.88 | 0.9 | 0.37 | -0.6 | 0.88 | SITE | ||
| 0.43 | -0.81 | -0.57 | 0.03 | -0.6 | -0.63 | WSO | ||
| 0.14 | 0.92 | 0.85 | 0.35 | 0.88 | -0.63 | FAST | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between Beacon Stock performing well and Beacon Roofing 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 Beacon Roofing'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| DSGR | 1.61 | 0.04 | 0.02 | 0.02 | 2.08 | 3.95 | 8.82 | |||
| GIC | 1.23 | (0.40) | 0.00 | (0.36) | 0.00 | 2.26 | 12.69 | |||
| MSM | 0.78 | (0.25) | 0.00 | (0.28) | 0.00 | 1.35 | 4.70 | |||
| DXPE | 1.72 | 0.12 | 0.05 | 0.12 | 2.15 | 4.21 | 13.47 | |||
| SITE | 1.93 | (0.46) | 0.00 | (0.21) | 0.00 | 3.60 | 15.04 | |||
| WSO | 1.26 | 0.24 | 0.15 | 0.19 | 1.26 | 2.41 | 9.06 | |||
| FAST | 0.84 | (0.26) | 0.00 | (0.37) | 0.00 | 1.32 | 8.44 |
Beacon Roofing Corporate Management
| Samuel Guzman | VP Officer | Profile | |
| Sean McDevitt | Executive Officer | Profile | |
| Jonathan Bennett | Executive Officer | Profile | |
| Birte Schwarzenfeld | Senior Solutions | Profile |