CDW Corp Correlations

CDW Stock

USD 123.13 1.51 1.21%

The current 90-days correlation between CDW Corp and CGI Inc is 0.51 (i.e., Very weak diversification). The correlation of CDW 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 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.

CDW Corp Correlation With Market

Very good diversification

The correlation between CDW Corp and DJI is -0.48 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CDW Corp and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with CDW Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in CDW Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in small area income & poverty estimates.

For more information on how to buy CDW Stock please use our How to Invest in CDW Corp guide.

Moving against CDW Stock

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0.74	Q	Qnity Electronics Earnings Call This Week	Pair Corr
0.71	VRME	VerifyMe	Pair Corr
0.6	LFS	Littelfuse	Pair Corr
0.6	PRHA	Prosegur Compaa de Earnings Call This Week	Pair Corr
0.58	PX4	Plexus Corp	Pair Corr
0.55	PJJ1	CHINA DISPLAY OTHHD	Pair Corr
0.48	KN	Knowles Cor	Pair Corr
0.33	FN	Fabrinet Tech Boost	Pair Corr
0.74	BAERW	Bridger Aerospace	Pair Corr
0.7	MKT	MKS Instruments	Pair Corr
0.64	SATLW	Satellogic Warrant	Pair Corr
0.56	BRV	Brady	Pair Corr
0.52	H7B	COHERENT CORP	Pair Corr
0.5	7YM	NSE SA EO	Pair Corr
0.48	VNI	Avnet Inc	Pair Corr
0.42	SOLI	Solid State Plc	Pair Corr
0.71	SRT	SRT Marine Systems	Pair Corr
0.7	APH	Amphenol	Pair Corr
0.57	FEIM	Frequency Electronics	Pair Corr
0.46	AVT	Avnet Inc	Pair Corr
0.45	ARW	Arrow Electronics	Pair Corr
0.45	BHE	Benchmark Electronics	Pair Corr

Related Correlations Analysis

	GIB	IT	LDOS	CHKP	SSNC	WIT	UMC	GDDY	CPAY	ON
GIB		0.92	0.64	0.86	0.96	0.93	-0.52	0.76	-0.4	-0.59	GIB
IT	0.92		0.47	0.76	0.94	0.83	-0.53	0.79	-0.56	-0.67	IT
LDOS	0.64	0.47		0.6	0.56	0.53	-0.17	0.31	-0.16	-0.32	LDOS
CHKP	0.86	0.76	0.6		0.84	0.84	-0.64	0.83	-0.47	-0.68	CHKP
SSNC	0.96	0.94	0.56	0.84		0.87	-0.52	0.81	-0.44	-0.61	SSNC
WIT	0.93	0.83	0.53	0.84	0.87		-0.58	0.74	-0.36	-0.54	WIT
UMC	-0.52	-0.53	-0.17	-0.64	-0.52	-0.58		-0.86	0.64	0.82	UMC
GDDY	0.76	0.79	0.31	0.83	0.81	0.74	-0.86		-0.69	-0.87	GDDY
CPAY	-0.4	-0.56	-0.16	-0.47	-0.44	-0.36	0.64	-0.69		0.86	CPAY
ON	-0.59	-0.67	-0.32	-0.68	-0.61	-0.54	0.82	-0.87	0.86		ON
	GIB	IT	LDOS	CHKP	SSNC	WIT	UMC	GDDY	CPAY	ON

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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

SSNC	+ 0.96	GIB
SSNC	+ 0.94	IT
WIT	+ 0.93	GIB
IT	+ 0.92	GIB
WIT	+ 0.87	SSNC
CHKP	+ 0.86	GIB

High negative correlations

ON	- 0.87	GDDY
GDDY	- 0.86	UMC
CPAY	- 0.69	GDDY
ON	- 0.68	CHKP
ON	- 0.67	IT
UMC	- 0.64	CHKP

Risk-Adjusted Indicators

There is a big difference between CDW Stock performing well and CDW 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 CDW 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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
GIB	1.17	(0.33)	0.00	(0.30)	0.00	0.00	2.05	(4.06)	10.69
IT	2.09	(0.52)	0.00	0.75	0.00	0.00	3.22	(4.89)	26.20
LDOS	1.48	(0.19)	0.00	(0.10)	0.00	0.00	2.83	(2.62)	17.71
CHKP	1.49	(0.39)	0.00	(0.28)	0.00	0.00	2.25	(3.41)	9.44
SSNC	1.18	(0.28)	0.00	(0.23)	0.00	0.00	1.81	(2.40)	13.44
WIT	1.76	(0.27)	0.00	(0.23)	0.00	0.00	3.98	(4.60)	14.08
UMC	2.23	0.70	0.21	(0.78)	2.17	(2.57)	7.50	(3.78)	24.73
GDDY	1.37	(0.58)	0.00	(0.65)	0.00	0.00	2.22	(3.98)	8.41
CPAY	1.95	0.21	0.10	0.18	2.19	(2.14)	4.46	(4.15)	18.86
ON	2.15	0.56	0.26	0.45	1.85	(2.57)	5.11	(3.71)	16.50

CDW Corp Corporate Management

Conor Waddell	Senior Solutions	Profile
Steven OBrien	Vice Relations	Profile
Anand Rao	Senior Officer	Profile
Peter Locy	Controller VP	Profile

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