WW Grainger Correlations

GWW Stock

USD 1,151 0.84 0.07%

The current 90-days correlation between WW Grainger and Ferguson Plc is 0.35 (i.e., Weak diversification). The correlation of WW Grainger 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.

WW Grainger Correlation With Market

Very poor diversification

The correlation between WW Grainger and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding WW Grainger and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with GWW Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in WW Grainger. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in private.

For more information on how to buy GWW Stock please use our How to Invest in WW Grainger guide.

Moving together with GWW Stock

0.89	AL	Air Lease	Pair Corr
0.82	DSGR	Distribution Solutions Earnings Call Tomorrow	Pair Corr
0.9	RXL	Rexel SA	Pair Corr
0.65	21W	Redde Northgate PLC	Pair Corr
0.94	DXPE	DXP Enterprises Earnings Call Tomorrow	Pair Corr
0.62	VSTS	Vestis	Pair Corr
0.81	0HIT	Iberdrola	Pair Corr
0.9	WLFC	Willis Lease Finance	Pair Corr
0.96	FAST	Fastenal	Pair Corr
0.62	FERG	Ferguson Plc	Pair Corr
0.81	WSO-B	Watsco Inc	Pair Corr
0.65	AER	AerCap Holdings NV	Pair Corr
0.83	AIT	Applied Industrial	Pair Corr
0.7	FZG1	BLUELINX HLDGS DL	Pair Corr
0.73	BXC	BlueLinx Holdings	Pair Corr
0.67	CNM	Core Main	Pair Corr
0.91	GIC	Global Industrial	Pair Corr
0.77	FTAI	FTAI Aviation	Pair Corr
0.84	MSM	MSC Industrial Direct	Pair Corr
0.9	WC3	Watsco Inc	Pair Corr
0.89	RUS	Russel Metals	Pair Corr
0.92	FAS	Fastenal	Pair Corr
0.64	QXO	QXO Inc	Pair Corr

Moving against GWW Stock

0.78	CAI	Caris Life Sciences	Pair Corr
0.76	MSI	Multistack International	Pair Corr
0.73	FPR	Fleetpartners Group	Pair Corr
0.52	61F	ELEMENT FLEET MGMT	Pair Corr
0.83	IPW	iPower Inc	Pair Corr
0.79	OEA1	OEM INTERN B	Pair Corr
0.77	IGC	India Globalization	Pair Corr
0.73	CUCA	Avis Budget Group	Pair Corr
0.72	SIX2	Sixt SE	Pair Corr
0.67	AA4	Amedeo Air Four	Pair Corr
0.53	HNG	Hancock Gore	Pair Corr

Related Correlations Analysis

	FERG	FAST	AME	ROP	FER	CARR	PAYX	ROK	OTIS	PCAR
FERG		0.74	0.7	-0.79	0.71	0.84	-0.79	0.28	0.47	0.66	FERG
FAST	0.74		0.91	-0.9	0.82	0.93	-0.85	0.33	0.63	0.91	FAST
AME	0.7	0.91		-0.93	0.86	0.92	-0.91	0.33	0.68	0.94	AME
ROP	-0.79	-0.9	-0.93		-0.89	-0.96	0.96	-0.18	-0.64	-0.88	ROP
FER	0.71	0.82	0.86	-0.89		0.9	-0.88	0.09	0.69	0.79	FER
CARR	0.84	0.93	0.92	-0.96	0.9		-0.94	0.17	0.64	0.86	CARR
PAYX	-0.79	-0.85	-0.91	0.96	-0.88	-0.94		-0.08	-0.66	-0.81	PAYX
ROK	0.28	0.33	0.33	-0.18	0.09	0.17	-0.08		-0.01	0.47	ROK
OTIS	0.47	0.63	0.68	-0.64	0.69	0.64	-0.66	-0.01		0.62	OTIS
PCAR	0.66	0.91	0.94	-0.88	0.79	0.86	-0.81	0.47	0.62		PCAR
	FERG	FAST	AME	ROP	FER	CARR	PAYX	ROK	OTIS	PCAR

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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

PAYX	+ 0.96	ROP
PCAR	+ 0.94	AME
CARR	+ 0.93	FAST
CARR	+ 0.92	AME
AME	+ 0.91	FAST
PCAR	+ 0.91	FAST

High negative correlations

CARR	- 0.96	ROP
PAYX	- 0.94	CARR
ROP	- 0.93	AME
PAYX	- 0.91	AME
ROP	- 0.9	FAST
FER	- 0.89	ROP

Risk-Adjusted Indicators

There is a big difference between GWW Stock performing well and WW Grainger 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 WW Grainger'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
FERG	1.31	(0.04)	(0.01)	0.01	1.97	(1.29)	3.14	(2.41)	9.88
FAST	1.24	0.18	0.12	0.19	1.36	(1.30)	3.32	(2.53)	7.79
AME	0.94	0.23	0.20	0.30	0.93	(1.06)	1.87	(1.61)	6.22
ROP	1.35	(0.37)	0.00	(0.31)	0.00	0.00	2.30	(4.19)	11.55
FER	1.04	0.05	0.03	0.10	1.42	(1.13)	2.60	(2.26)	6.80
CARR	1.38	0.17	0.10	0.20	1.49	(1.50)	3.25	(3.16)	7.85
PAYX	1.22	(0.26)	0.00	(0.25)	0.00	0.00	2.34	(3.39)	7.54
ROK	1.41	(0.02)	0.00	0.02	2.04	(1.38)	2.85	(2.88)	10.12
OTIS	0.93	0.06	0.03	0.32	1.07	(0.99)	2.27	(1.99)	5.98
PCAR	1.20	0.20	0.18	0.22	0.92	(1.55)	2.85	(1.63)	7.78

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