WW Grainger Correlations

GWW Stock

EUR 875.00 14.20 1.60%

The current 90-days correlation between WW Grainger and Chunghwa Telecom Co is -0.12 (i.e., Good 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.

WW Grainger Correlation With Market

Good diversification

The correlation between WW Grainger and DJI is -0.04 (i.e., Good 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.

The ability to find closely correlated positions to WW Grainger could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace WW Grainger when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back WW Grainger - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling WW Grainger to buy it.

Moving together with GWW Stock

0.72	BYRA	PT Bank Rakyat Earnings Call This Week	Pair Corr
0.72	BZG2	PT Bank Central Earnings Call This Week	Pair Corr
0.68	MUM	MENSCH UND MASCHINE Earnings Call This Week	Pair Corr
0.68	VOL4	VOLVO B UNSPADR	Pair Corr

Moving against GWW Stock

0.63	JOT	ELEKTROBIT	Pair Corr
0.36	DBPD	Xtrackers ShortDAX	Pair Corr
0.34	SSUN	Samsung Electronics	Pair Corr

Related Correlations Analysis

	CHWD	SH9	EV9	B7O	9E7	PN1	TQI	RCIB
CHWD		0.29	0.57	0.45	0.0	0.47	0.83	0.5	CHWD
SH9	0.29		0.82	0.47	0.0	0.65	0.52	0.77	SH9
EV9	0.57	0.82		0.69	0.0	0.86	0.7	0.89	EV9
B7O	0.45	0.47	0.69		0.0	0.7	0.5	0.77	B7O
9E7	0.0	0.0	0.0	0.0		0.0	0.0	0.0	9E7
PN1	0.47	0.65	0.86	0.7	0.0		0.6	0.79	PN1
TQI	0.83	0.52	0.7	0.5	0.0	0.6		0.69	TQI
RCIB	0.5	0.77	0.89	0.77	0.0	0.79	0.69		RCIB
	CHWD	SH9	EV9	B7O	9E7	PN1	TQI	RCIB

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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

RCIB	+ 0.89	EV9
PN1	+ 0.86	EV9
TQI	+ 0.83	CHWD
EV9	+ 0.82	SH9
RCIB	+ 0.79	PN1
RCIB	+ 0.77	SH9

High negative correlations

RCIB	- 0.0	9E7
TQI	- 0.0	9E7
PN1	- 0.0	9E7
9E7	- 0.0	B7O
9E7	- 0.0	EV9
9E7	- 0.0	SH9

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
CHWD	1.15	0.20	0.07	1.35	1.00	(1.64)	3.46	(2.10)	7.86
SH9	1.91	0.20	0.02	2.81	2.64	(2.08)	4.62	(3.70)	11.54
EV9	2.64	0.58	0.11	(0.50)	2.49	(3.58)	6.54	(4.07)	19.32
B7O	1.36	0.34	0.00	(2.69)	0.00	0.00	4.17	(4.00)	14.84
9E7	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PN1	2.27	0.47	0.09	(0.53)	2.50	(2.57)	5.13	(4.07)	20.73
TQI	1.27	0.28	0.07	1.54	1.00	(3.04)	2.94	(2.56)	8.19
RCIB	1.12	0.43	0.19	(1.64)	0.76	(1.59)	2.59	(1.75)	6.93

Be your own money manager

Our tools can tell you how much better you can do entering a position in WW Grainger without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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WW Grainger Corporate Management

Elected by the shareholders, the WW Grainger's board of directors comprises two types of representatives: WW Grainger inside directors who are chosen from within the company, and outside directors, selected externally and held independent of GWW. The board's role is to monitor WW Grainger's management team and ensure that shareholders' interests are well served. WW Grainger's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, WW Grainger's outside directors are responsible for providing unbiased perspectives on the board's policies.

Jonny LeRoy	VP CTO	Profile
Laurie Thomson	Controller VP	Profile
Kyle Bland	VP Relations	Profile
Masaya Suzuki	Managing Bus	Profile

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