WESCO International Correlations

WCC Stock

USD 194.29 0.87 0.45%

The current 90-days correlation between WESCO International and Gfl Environmental Holdings is 0.47 (i.e., Very weak 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

Very poor diversification

The correlation between WESCO International and DJI is 0.81 (i.e., Very poor 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.

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

For information on how to trade WESCO Stock refer to our How to Trade WESCO Stock guide.

Moving together with WESCO Stock

0.63	DSGR	Distribution Solutions	Pair Corr
0.83	FAST	Fastenal	Pair Corr
0.89	FERG	Ferguson Plc	Pair Corr
0.69	AIT	Applied Industrial	Pair Corr
0.94	CNM	Core Main	Pair Corr
0.77	EVI	EVI Industries	Pair Corr
0.88	GIC	Global Industrial	Pair Corr
0.68	GWW	WW Grainger	Pair Corr
0.92	MSM	MSC Industrial Direct	Pair Corr
0.9	WCC-PA	WESCO International	Pair Corr
0.79	SITE	SiteOne Landscape Supply	Pair Corr
0.86	TITN	Titan Machinery	Pair Corr
0.95	J	Jacobs Solutions	Pair Corr
0.9	R	Ryder System	Pair Corr
0.88	AL	Air Lease	Pair Corr
0.74	AP	Ampco Pittsburgh	Pair Corr
0.85	AZ	A2Z Smart Technologies	Pair Corr
0.9	BA	Boeing Aggressive Push	Pair Corr
0.82	BE	Bloom Energy Corp Buyout Trend	Pair Corr
0.7	BR	Broadridge Financial	Pair Corr
0.84	BV	BrightView Holdings	Pair Corr
0.83	BW	Babcock Wilcox Enter	Pair Corr
0.81	CP	Canadian Pacific Railway	Pair Corr
0.95	CR	Crane Company	Pair Corr
0.92	CW	Curtiss Wright	Pair Corr
0.88	DE	Deere Company	Pair Corr
0.89	DY	Dycom Industries	Pair Corr
0.74	FA	First Advantage Corp	Pair Corr
0.81	GD	General Dynamics	Pair Corr
0.91	GE	GE Aerospace	Pair Corr

Moving against WESCO Stock

0.61	WSO	Watsco Inc	Pair Corr
0.59	G	Genpact Limited	Pair Corr
0.66	MG	Mistras Group	Pair Corr
0.56	PC	Premium Catering	Pair Corr
0.53	NL	NL Industries	Pair Corr
0.48	GP	GreenPower Motor	Pair Corr
0.33	PN	Skycorp Solar Group	Pair Corr

Related Correlations Analysis

	MT	GFL	HUSIF	GGB	CECO	SEVT	TNJIF	IIIN
MT		0.72	0.51	0.72	0.84	0.0	0.47	0.92	MT
GFL	0.72		0.31	0.43	0.6	0.0	0.33	0.67	GFL
HUSIF	0.51	0.31		0.69	0.72	0.0	0.89	0.51	HUSIF
GGB	0.72	0.43	0.69		0.73	0.0	0.77	0.58	GGB
CECO	0.84	0.6	0.72	0.73		0.0	0.65	0.81	CECO
SEVT	0.0	0.0	0.0	0.0	0.0		0.0	0.0	SEVT
TNJIF	0.47	0.33	0.89	0.77	0.65	0.0		0.47	TNJIF
IIIN	0.92	0.67	0.51	0.58	0.81	0.0	0.47		IIIN
	MT	GFL	HUSIF	GGB	CECO	SEVT	TNJIF	IIIN

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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

IIIN	+ 0.92	MT
TNJIF	+ 0.89	HUSIF
CECO	+ 0.84	MT
IIIN	+ 0.81	CECO
TNJIF	+ 0.77	GGB
CECO	+ 0.73	GGB

High negative correlations

IIIN	- 0.0	SEVT
TNJIF	- 0.0	SEVT
SEVT	- 0.0	CECO
SEVT	- 0.0	GGB
SEVT	- 0.0	HUSIF
SEVT	- 0.0	GFL

Risk-Adjusted Indicators

There is a big difference between WESCO 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
MT	1.95	0.08	0.05	0.15	2.43	(2.06)	4.60	(3.49)	20.46
GFL	1.33	(0.07)	(0.05)	0.02	1.78	(1.48)	2.40	(2.20)	12.75
HUSIF	2.44	0.62	0.08	(4.92)	2.52	(5.98)	8.00	(3.70)	27.01
GGB	2.24	0.08	0.03	0.18	2.67	(2.59)	4.96	(4.31)	14.01
CECO	2.61	0.35	0.12	0.41	2.74	(2.91)	6.19	(4.36)	20.71
SEVT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TNJIF	0.17	0.00	0.00	0.00	0.00	0.00	0.00	0.00	5.56
IIIN	1.75	0.56	0.30	0.82	1.35	(2.27)	3.58	(1.88)	17.07

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