Watsco Correlations

WSO-B Stock

USD 535.00 15.30 2.94%

The current 90-days correlation between Watsco Inc and Core Main is -0.05 (i.e., Good diversification). The correlation of Watsco 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.

Watsco Correlation With Market

Average diversification

The correlation between Watsco Inc and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Watsco Inc and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Watsco Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with Watsco Stock

0.68	DXPE	DXP Enterprises	Pair Corr
0.63	FAST	Fastenal Fiscal Year End 16th of January 2025	Pair Corr
0.76	AIT	Applied Industrial	Pair Corr
0.7	BXC	BlueLinx Holdings	Pair Corr
0.69	GWW	WW Grainger	Pair Corr
0.68	WCC	WESCO International	Pair Corr
0.76	WSO	Watsco Inc	Pair Corr
0.76	BECN	Beacon Roofing Supply	Pair Corr
0.76	G	Genpact Limited	Pair Corr
0.77	R	Ryder System	Pair Corr
0.73	AL	Air Lease	Pair Corr
0.66	AZ	A2Z Smart Technologies	Pair Corr
0.68	BE	Bloom Energy Corp	Pair Corr
0.76	BR	Broadridge Financial	Pair Corr
0.71	CR	Crane Company	Pair Corr
0.66	CW	Curtiss Wright	Pair Corr

Moving against Watsco Stock

0.57	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.35	GIC	Global Industrial	Pair Corr
0.31	TRNS	Transcat	Pair Corr
0.64	CP	Canadian Pacific Railway	Pair Corr
0.49	RR	Richtech Robotics Class	Pair Corr
0.47	ST	Sensata Technologies	Pair Corr
0.34	MG	Mistras Group	Pair Corr
0.34	SB	Safe Bulkers	Pair Corr

Related Correlations Analysis

	DXPE	GIC	EVI	CNM	DSGR	WCC-PA	BXC	AIT	MSM
DXPE		-0.63	0.27	0.08	0.31	0.59	0.87	0.86	0.68	DXPE
GIC	-0.63		-0.18	0.23	0.08	-0.57	-0.62	-0.63	-0.15	GIC
EVI	0.27	-0.18		0.16	0.75	0.78	0.62	0.63	0.53	EVI
CNM	0.08	0.23	0.16		0.42	-0.16	0.19	0.12	0.29	CNM
DSGR	0.31	0.08	0.75	0.42		0.51	0.56	0.59	0.61	DSGR
WCC-PA	0.59	-0.57	0.78	-0.16	0.51		0.8	0.86	0.5	WCC-PA
BXC	0.87	-0.62	0.62	0.19	0.56	0.8		0.96	0.7	BXC
AIT	0.86	-0.63	0.63	0.12	0.59	0.86	0.96		0.67	AIT
MSM	0.68	-0.15	0.53	0.29	0.61	0.5	0.7	0.67		MSM
	DXPE	GIC	EVI	CNM	DSGR	WCC-PA	BXC	AIT	MSM

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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

AIT	+ 0.96	BXC
BXC	+ 0.87	DXPE
AIT	+ 0.86	DXPE
AIT	+ 0.86	WCC-PA
BXC	+ 0.8	WCC-PA
WCC-PA	+ 0.78	EVI

High negative correlations

AIT	- 0.63	GIC
GIC	- 0.63	DXPE
BXC	- 0.62	GIC
WCC-PA	- 0.57	GIC
EVI	- 0.18	GIC
WCC-PA	- 0.16	CNM

Risk-Adjusted Indicators

There is a big difference between Watsco Stock performing well and Watsco 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 Watsco'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
DXPE	2.02	0.33	0.22	0.28	1.65	(2.75)	3.89	(2.97)	22.06
GIC	1.56	(0.44)	0.00	(0.10)	0.00	0.00	2.07	(2.31)	23.70
EVI	2.67	0.00	0.05	0.12	3.04	(2.94)	6.61	(4.62)	17.71
CNM	1.96	(0.28)	0.00	(0.09)	0.00	0.00	3.55	(3.55)	17.40
DSGR	1.63	(0.20)	(0.01)	0.04	1.97	(1.90)	3.54	(2.89)	18.72
WCC-PA	0.10	0.03	(0.59)	1.91	0.00	(0.13)	0.27	(0.19)	0.66
BXC	2.00	0.14	0.11	0.19	2.10	(2.19)	4.69	(3.28)	12.17
AIT	1.35	0.20	0.30	0.21	0.75	(1.77)	3.17	(1.63)	15.15
MSM	1.52	(0.14)	(0.02)	0.05	1.69	(1.67)	3.08	(2.68)	10.99

Watsco Corporate Management

Barry CPA	Secretary Strategy	Profile
Barry Logan	Executive Secretary	Profile
Steven Rupp	Chief Officer	Profile
Rick Gomez	VP Devel	Profile

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