WW Grainger Correlations

GWW Stock

USD 1,028 6.18 0.60%

The current 90-days correlation between WW Grainger and Ferguson Plc is -0.2 (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. If the correlation is 0, the equities are not correlated; they are entirely random.

WW Grainger Correlation With Market

Poor diversification

The correlation between WW Grainger and DJI is 0.65 (i.e., 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 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

0.65	GIC	Global Industrial	Pair Corr
0.64	TITN	Titan Machinery	Pair Corr
0.68	AL	Air Lease	Pair Corr
0.63	AP	Ampco Pittsburgh	Pair Corr
0.74	BV	BrightView Holdings	Pair Corr
0.68	BZ	Kanzhun Ltd ADR	Pair Corr
0.71	CP	Canadian Pacific Railway	Pair Corr
0.73	DE	Deere Company	Pair Corr
0.78	FA	First Advantage Corp	Pair Corr
0.67	FC	Franklin Covey	Pair Corr

Moving against GWW Stock

0.65

Mistras Group

Pair Corr

Related Correlations Analysis

	DXPE	FERG	GIC	MSM	CNM	GWW	SITE	POOL
DXPE		0.23	0.36	0.5	0.43	0.02	0.56	0.15	DXPE
FERG	0.23		0.77	0.83	0.93	0.2	0.65	-0.2	FERG
GIC	0.36	0.77		0.71	0.77	0.65	0.75	0.15	GIC
MSM	0.5	0.83	0.71		0.89	0.17	0.75	0.04	MSM
CNM	0.43	0.93	0.77	0.89		0.25	0.76	-0.09	CNM
GWW	0.02	0.2	0.65	0.17	0.25		0.41	0.36	GWW
SITE	0.56	0.65	0.75	0.75	0.76	0.41		0.37	SITE
POOL	0.15	-0.2	0.15	0.04	-0.09	0.36	0.37		POOL
	DXPE	FERG	GIC	MSM	CNM	GWW	SITE	POOL

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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

CNM	+ 0.93	FERG
CNM	+ 0.89	MSM
MSM	+ 0.83	FERG
GIC	+ 0.77	FERG
CNM	+ 0.77	GIC
SITE	+ 0.76	CNM

High negative correlations

POOL	- 0.2	FERG
POOL	- 0.09	CNM

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
DXPE	1.81	0.21	0.11	0.32	1.85	(2.01)	3.81	(2.87)	9.85
FERG	1.28	0.50	0.31	(1.34)	0.55	(1.65)	3.17	(1.87)	18.95
GIC	1.42	0.31	0.15	8.71	1.01	(1.86)	3.51	(2.29)	18.42
MSM	1.22	0.05	0.05	0.18	1.04	(1.45)	3.43	(1.89)	8.73
CNM	1.41	0.21	0.16	0.32	1.11	(1.66)	3.20	(2.21)	12.44
GWW	0.98	(0.07)	(0.07)	0.05	1.17	(1.01)	2.05	(1.72)	5.61
SITE	1.69	(0.07)	0.00	0.08	1.85	(1.82)	4.20	(3.45)	10.11
POOL	1.54	(0.20)	0.00	(0.04)	0.00	0.00	3.41	(3.56)	10.08

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