WW Grainger Correlations

GWW Stock

USD 1,183 11.78 0.99%

The current 90-days correlation between WW Grainger and Ferguson Plc is 0.41 (i.e., Very 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 0.85 (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 child.

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

Moving together with GWW Stock

0.92	AL	Air Lease Earnings Call This Week	Pair Corr
0.81	DSGR	Distribution Solutions	Pair Corr
0.87	WLFC	Willis Lease Finance	Pair Corr
0.79	FTAI	FTAI Aviation	Pair Corr
0.76	WJX	Wajax	Pair Corr
0.93	RUSHA	Rush Enterprises A	Pair Corr
0.75	FXL	FUYO GENERAL LEASE Earnings Call Tomorrow	Pair Corr
0.81	WIJ	WILLIS LEASE FIN	Pair Corr
0.84	DBM	Doman Building Materials	Pair Corr
0.67	CTOS	Custom Truck One	Pair Corr
0.74	ADEN	ADENTRA	Pair Corr
0.87	ENS	Enersys Earnings Call This Week	Pair Corr
0.78	BNKHF	BOC Hong Kong	Pair Corr
0.71	RILYL	B Riley Financial	Pair Corr

Moving against GWW Stock

0.59	EFN	Element Fleet Management	Pair Corr
0.52	AA4	Amedeo Air Four	Pair Corr
0.36	BKRKF	PT Bank Rakyat Earnings Call This Week	Pair Corr
0.35	BOSN	Bossard Holding AG	Pair Corr
0.83	PBCRY	Bank Central Asia	Pair Corr
0.8	BROGF	BROGF	Pair Corr
0.63	PBCRF	PT Bank Central	Pair Corr
0.55	PTAIF	PT Astra International	Pair Corr
0.32	NVNIW	Nvni Group Limited	Pair Corr

Related Correlations Analysis

	FERG	FAST	AME	ROP	FER	CARR	PAYX	ROK	OTIS	PCAR
FERG		0.44	0.28	-0.53	0.12	0.75	-0.57	0.2	0.28	0.12	FERG
FAST	0.44		0.86	-0.8	0.68	0.74	-0.62	0.72	0.18	0.79	FAST
AME	0.28	0.86		-0.84	0.76	0.61	-0.65	0.84	0.08	0.92	AME
ROP	-0.53	-0.8	-0.84		-0.63	-0.7	0.89	-0.67	0.01	-0.72	ROP
FER	0.12	0.68	0.76	-0.63		0.25	-0.44	0.91	-0.1	0.89	FER
CARR	0.75	0.74	0.61	-0.7	0.25		-0.57	0.34	0.41	0.37	CARR
PAYX	-0.57	-0.62	-0.65	0.89	-0.44	-0.57		-0.55	0.11	-0.53	PAYX
ROK	0.2	0.72	0.84	-0.67	0.91	0.34	-0.55		-0.13	0.93	ROK
OTIS	0.28	0.18	0.08	0.01	-0.1	0.41	0.11	-0.13		-0.06	OTIS
PCAR	0.12	0.79	0.92	-0.72	0.89	0.37	-0.53	0.93	-0.06		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

PCAR	+ 0.93	ROK
PCAR	+ 0.92	AME
ROK	+ 0.91	FER
PAYX	+ 0.89	ROP
PCAR	+ 0.89	FER
AME	+ 0.86	FAST

High negative correlations

ROP	- 0.84	AME
ROP	- 0.8	FAST
PCAR	- 0.72	ROP
CARR	- 0.7	ROP
ROK	- 0.67	ROP
PAYX	- 0.65	AME

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	1.27	0.03	0.02	0.07	1.98	(1.21)	2.77	(2.56)	11.07
FAST	1.17	0.17	0.15	0.20	1.01	(1.37)	3.32	(1.98)	6.62
AME	0.90	0.15	0.18	0.21	0.63	(1.11)	1.91	(1.34)	4.58
ROP	1.06	(0.35)	0.00	(0.40)	0.00	0.00	1.71	(2.41)	12.33
FER	0.91	0.09	0.06	0.20	0.90	(1.09)	2.60	(1.93)	6.80
CARR	1.35	0.06	0.06	0.10	1.21	(1.66)	4.09	(2.10)	6.58
PAYX	1.01	(0.28)	0.00	(0.29)	0.00	0.00	2.32	(3.16)	7.96
ROK	1.22	0.17	0.13	0.17	1.27	(1.31)	2.73	(1.91)	8.52
OTIS	0.83	(0.07)	0.00	(0.05)	0.00	0.00	1.52	(2.00)	4.47
PCAR	1.29	0.36	0.37	0.34	0.62	(1.69)	3.68	(1.52)	7.16

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