WESCO International Correlations
| WCC-PADelisted Preferred Stock | USD 25.57 0.02 0.08% |
The current 90-days correlation between WESCO International and WESCO International is -0.1 (i.e., Good diversification). The correlation of WESCO International 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.
WESCO International Correlation With Market
Good diversification
The correlation between WESCO International and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding WESCO International and DJI in the same portfolio, assuming nothing else is changed.
WESCO |
The ability to find closely correlated positions to WESCO International could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace WESCO International 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 WESCO International - 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 WESCO International to buy it.
Moving together with WESCO Preferred Stock
| 0.73 | DSGR | Distribution Solutions | PairCorr |
| 0.82 | FAST | Fastenal | PairCorr |
| 0.95 | FERG | Ferguson Plc | PairCorr |
| 0.61 | AIT | Applied Industrial | PairCorr |
| 0.91 | CNM | Core Main | PairCorr |
| 0.86 | EVI | EVI Industries | PairCorr |
| 0.74 | GIC | Global Industrial | PairCorr |
| 0.89 | MSM | MSC Industrial Direct | PairCorr |
| 0.89 | WCC | WESCO International | PairCorr |
| 0.81 | WXM | WF International | PairCorr |
| 0.86 | REZI | Resideo Technologies | PairCorr |
| 0.85 | J | Jacobs Solutions | PairCorr |
| 0.82 | R | Ryder System Earnings Call This Week | PairCorr |
| 0.74 | AL | Air Lease | PairCorr |
| 0.75 | AP | Ampco Pittsburgh | PairCorr |
| 0.9 | AZ | A2Z Smart Technologies | PairCorr |
| 0.79 | BA | Boeing | PairCorr |
| 0.9 | BE | Bloom Energy Corp | PairCorr |
| 0.82 | BW | Babcock Wilcox Enter | PairCorr |
| 0.71 | CP | Canadian Pacific Railway | PairCorr |
| 0.82 | CR | Crane Company | PairCorr |
| 0.93 | CW | Curtiss Wright | PairCorr |
| 0.68 | DE | Deere Company | PairCorr |
| 0.94 | DY | Dycom Industries | PairCorr |
| 0.84 | GD | General Dynamics Earnings Call This Week | PairCorr |
| 0.87 | GE | GE Aerospace Earnings Call This Week | PairCorr |
Moving against WESCO Preferred Stock
| 0.68 | DNOW | Now Inc | PairCorr |
| 0.47 | G | Genpact Limited | PairCorr |
| 0.46 | WSO | Watsco Inc | PairCorr |
| 0.9 | NL | NL Industries | PairCorr |
| 0.71 | GP | GreenPower Motor | PairCorr |
| 0.58 | MG | Mistras Group | PairCorr |
| 0.33 | RR | Richtech Robotics Class Aggressive Push | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between WESCO Preferred Stock performing well and WESCO International 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 WESCO International'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| ADRZF | 0.59 | 0.32 | 0.00 | (0.99) | 0.00 | 1.51 | 9.05 | |||
| DSGR | 1.74 | (0.12) | (0.02) | 0.06 | 2.12 | 3.68 | 11.06 | |||
| AIT | 1.62 | 0.03 | 0.05 | 0.15 | 1.85 | 3.60 | 10.50 | |||
| WCC | 1.71 | 0.31 | 0.19 | 0.35 | 1.58 | 4.37 | 11.08 | |||
| GIC | 1.42 | 0.31 | 0.15 | 8.71 | 1.01 | 3.51 | 18.42 | |||
| SPNT-PB | 0.16 | 0.04 | (0.36) | 1.10 | 0.00 | 0.41 | 0.92 | |||
| ARGO-PA | 0.08 | 0.04 | (1.09) | 12.34 | 0.00 | 0.20 | 0.48 | |||
| GSL-PB | 0.47 | 0.05 | (0.12) | (0.56) | 0.59 | 1.27 | 3.54 | |||
| CODI-PC | 2.61 | (0.09) | 0.00 | (0.10) | 0.00 | 7.62 | 31.09 |
WESCO International Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with WESCO International preferred stock to make a market-neutral strategy. Peer analysis of WESCO International could also be used in its relative valuation, which is a method of valuing WESCO International by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
WESCO International Corporate Management
| David Schulz | Ex CFO | Profile | |
| William II | Ex Solutions | Profile | |
| Scott CFA | VP Relations | Profile | |
| Christine Wolf | Ex Officer | Profile | |
| Nelson III | Ex Solutions | Profile | |
| Matthew Kulasa | Corp VP | Profile | |
| Hemant Porwal | Ex Operations | Profile |
Still Interested in WESCO International?
Investing in delisted delisted preferred stocks can be risky, as the preferred stock is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.