WW Grainger Correlations

GWW Stock

USD 1,126 12.06 1.08%

The current 90-days correlation between WW Grainger and Watsco Inc is 0.71 (i.e., Poor 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

Weak diversification

The correlation between WW Grainger and DJI is 0.39 (i.e., Weak 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.

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 housing.

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

Moving together with GWW Stock

0.69	DSGR	Distribution Solutions	Pair Corr
0.96	FAST	Fastenal	Pair Corr
0.86	FERG	Ferguson Plc	Pair Corr
0.86	AIT	Applied Industrial	Pair Corr
0.94	BXC	BlueLinx Holdings	Pair Corr
0.83	MSM	MSC Industrial Direct	Pair Corr
0.92	WCC	WESCO International	Pair Corr
0.95	WSO	Watsco Inc	Pair Corr
0.77	POOL	Pool	Pair Corr
0.81	SITE	SiteOne Landscape Supply	Pair Corr
0.7	BV	BrightView Holdings	Pair Corr
0.94	CR	Crane Company	Pair Corr
0.62	CW	Curtiss Wright	Pair Corr

Moving against GWW Stock

0.67	BA	Boeing	Pair Corr
0.56	B	Barnes Group	Pair Corr
0.37	AP	Ampco Pittsburgh	Pair Corr
0.64	RR	Richtech Robotics Class	Pair Corr
0.33	TH	Target Hospitality Corp	Pair Corr

Related Correlations Analysis

	WSO	POOL	MSM	AIT	DXPE	CNM	SITE	FAST	FERG
WSO		0.72	0.73	0.89	-0.11	-0.23	0.71	0.89	0.79	WSO
POOL	0.72		0.55	0.53	-0.42	-0.23	0.89	0.81	0.86	POOL
MSM	0.73	0.55		0.79	0.03	-0.14	0.76	0.76	0.64	MSM
AIT	0.89	0.53	0.79		0.21	0.07	0.61	0.74	0.62	AIT
DXPE	-0.11	-0.42	0.03	0.21		0.82	-0.2	-0.43	-0.53	DXPE
CNM	-0.23	-0.23	-0.14	0.07	0.82		-0.13	-0.49	-0.43	CNM
SITE	0.71	0.89	0.76	0.61	-0.2	-0.13		0.79	0.82	SITE
FAST	0.89	0.81	0.76	0.74	-0.43	-0.49	0.79		0.92	FAST
FERG	0.79	0.86	0.64	0.62	-0.53	-0.43	0.82	0.92		FERG
	WSO	POOL	MSM	AIT	DXPE	CNM	SITE	FAST	FERG

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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

FERG	+ 0.92	FAST
AIT	+ 0.89	WSO
FAST	+ 0.89	WSO
SITE	+ 0.89	POOL
FERG	+ 0.86	POOL
CNM	+ 0.82	DXPE

High negative correlations

FERG	- 0.53	DXPE
FAST	- 0.49	CNM
FERG	- 0.43	CNM
FAST	- 0.43	DXPE
DXPE	- 0.42	POOL
CNM	- 0.23	POOL

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
WSO	1.17	(0.02)	(0.04)	0.05	1.35	(1.32)	2.52	(2.57)	9.98
POOL	1.29	(0.16)	0.00	(0.19)	0.00	0.00	2.46	(2.95)	10.56
MSM	1.45	0.07	0.02	0.21	1.56	(1.67)	3.43	(2.78)	11.93
AIT	1.26	0.17	0.08	0.43	1.24	(1.51)	2.69	(2.21)	17.60
DXPE	2.02	1.03	0.63	0.71	0.81	(2.66)	6.82	(1.89)	26.01
CNM	1.65	0.29	0.16	0.46	1.40	(2.00)	4.25	(2.43)	18.90
SITE	1.65	(0.03)	(0.03)	0.03	2.04	(1.68)	3.78	(3.24)	9.36
FAST	0.88	(0.04)	(0.08)	(0.02)	1.12	(0.94)	1.23	(1.80)	10.87
FERG	1.35	(0.16)	0.00	(0.20)	0.00	0.00	3.22	(2.27)	14.83

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