Smith Douglas Correlations
| SDHC Stock | 25.00 1.26 4.80% |
The correlation of Smith Douglas 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 Smith Douglas moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Smith Douglas Homes 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.
Very weak diversification
The correlation between Smith Douglas Homes and NYA is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Smith Douglas Homes and NYA in the same portfolio, assuming nothing else is changed.
Smith |
The ability to find closely correlated positions to Smith Douglas could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Smith Douglas 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 Smith Douglas - 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 Smith Douglas Homes to buy it.
Moving together with Smith Stock
| 0.69 | BZH | Beazer Homes USA Fiscal Year End 21st of November 2024 | PairCorr |
| 0.61 | CRI | Carters | PairCorr |
| 0.61 | DHI | DR Horton Financial Report 18th of July 2024 | PairCorr |
| 0.63 | PVH | PVH Corp Financial Report 29th of May 2024 | PairCorr |
Related Correlations Analysis
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Risk-Adjusted Indicators
There is a big difference between Smith Stock performing well and Smith Douglas 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 Smith Douglas' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| PHM | 1.42 | 0.05 | 0.05 | 0.05 | 1.81 | 2.45 | 8.21 | |||
| LEN | 1.50 | (0.05) | 0.00 | 0.01 | 2.32 | 2.51 | 10.70 | |||
| DHI | 1.49 | (0.08) | 0.00 | (0.01) | 0.00 | 2.38 | 10.67 | |||
| TMHC | 1.36 | (0.04) | 0.00 | 0.01 | 1.81 | 3.20 | 8.08 | |||
| MHO | 1.80 | (0.01) | 0.01 | 0.02 | 2.40 | 3.96 | 10.93 | |||
| CCS | 1.66 | (0.12) | 0.00 | (0.02) | 0.00 | 2.44 | 9.76 | |||
| BZH | 2.00 | (0.13) | 0.00 | (0.02) | 0.00 | 3.50 | 10.36 | |||
| LGIH | 1.79 | (0.32) | 0.00 | (0.09) | 0.00 | 3.17 | 11.65 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Smith Douglas 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.Did you try this?
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Smith Douglas Corporate Executives
Elected by the shareholders, the Smith Douglas' board of directors comprises two types of representatives: Smith Douglas inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Smith. The board's role is to monitor Smith Douglas' management team and ensure that shareholders' interests are well served. Smith Douglas' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Smith Douglas' outside directors are responsible for providing unbiased perspectives on the board's policies.
| Russell Devendorf | Executive CFO | Profile |
Already Invested in Smith Douglas Homes?
The danger of trading Smith Douglas Homes 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 Smith Douglas 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 Smith Douglas. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Smith Douglas Homes 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 Smith Douglas Homes offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Smith Douglas' financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Smith Douglas Homes Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Smith Douglas Homes Stock: Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Smith Douglas Homes. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in rate. Note that the Smith Douglas Homes information on this page should be used as a complementary analysis to other Smith Douglas' statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
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When running Smith Douglas' price analysis, check to measure Smith Douglas' market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Smith Douglas is operating at the current time. Most of Smith Douglas' value examination focuses on studying past and present price action to predict the probability of Smith Douglas' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Smith Douglas' price. Additionally, you may evaluate how the addition of Smith Douglas to your portfolios can decrease your overall portfolio volatility.
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Is Smith Douglas' 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 Smith Douglas. If investors know Smith 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 Smith Douglas 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 (0.28) | Revenue Per Share 6.7 K | Quarterly Revenue Growth (0.03) | Return On Equity 0.6993 |
The market value of Smith Douglas Homes is measured differently than its book value, which is the value of Smith that is recorded on the company's balance sheet. Investors also form their own opinion of Smith Douglas' value that differs from its market value or its book value, called intrinsic value, which is Smith Douglas' 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 Smith Douglas' market value can be influenced by many factors that don't directly affect Smith Douglas' 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 Smith Douglas' value and its price as these two are different measures arrived at by different means. Investors typically determine if Smith Douglas is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Smith Douglas' 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.