Watsco Correlations

WSO-B Stock

USD 437.48 3.00 0.69%

The current 90-days correlation between Watsco Inc and Core Main is -0.07 (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

Significant diversification

The correlation between Watsco Inc and DJI is 0.01 (i.e., Significant 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.

Build AI portfolio with Watsco Stock

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 against Watsco Stock

0.86	GIC	Global Industrial Earnings Call This Week	Pair Corr
0.83	BA	Boeing Earnings Call This Week	Pair Corr
0.82	FERG	Ferguson Plc	Pair Corr
0.82	CNM	Core Main	Pair Corr
0.8	WCC-PA	WESCO International Earnings Call Next Week	Pair Corr
0.8	AL	Air Lease	Pair Corr
0.79	J	Jacobs Solutions	Pair Corr
0.77	WCC	WESCO International Earnings Call Next Week	Pair Corr
0.76	AZ	A2Z Smart Technologies	Pair Corr
0.74	R	Ryder System Earnings Call This Week	Pair Corr
0.74	AP	Ampco Pittsburgh	Pair Corr
0.71	EVI	EVI Industries	Pair Corr
0.71	MSM	MSC Industrial Direct	Pair Corr
0.7	SITE	SiteOne Landscape Supply Earnings Call This Week	Pair Corr
0.65	FAST	Fastenal	Pair Corr
0.64	WXM	WF International	Pair Corr
0.64	TITN	Titan Machinery	Pair Corr
0.61	DIST	Distoken Acquisition	Pair Corr
0.49	DSGR	Distribution Solutions Earnings Call Next Week	Pair Corr
0.43	AIT	Applied Industrial	Pair Corr
0.43	GWW	WW Grainger	Pair Corr
0.38	DXPE	DXP Enterprises	Pair Corr
0.36	BXC	BlueLinx Holdings Earnings Call This Week	Pair Corr
0.89	CR	Crane Company Earnings Call This Week	Pair Corr
0.87	DY	Dycom Industries	Pair Corr
0.86	CW	Curtiss Wright	Pair Corr
0.84	GE	GE Aerospace	Pair Corr
0.82	BZ	Kanzhun Ltd ADR	Pair Corr
0.82	PH	Parker Hannifin	Pair Corr
0.81	KE	Kimball Electronics	Pair Corr
0.8	IR	Ingersoll Rand Earnings Call This Week	Pair Corr
0.78	BW	Babcock Wilcox Enter	Pair Corr
0.77	PL	Planet Labs PBC Downward Rally	Pair Corr
0.75	DE	Deere Company	Pair Corr
0.68	BE	Bloom Energy Corp Earnings Call Next Week	Pair Corr
0.68	CP	Canadian Pacific Railway Earnings Call This Week	Pair Corr
0.64	BV	BrightView Holdings	Pair Corr

Related Correlations Analysis

	DXPE	GIC	EVI	CNM	DSGR	WCC-PA	BXC	AIT	MSM
DXPE		0.36	0.58	0.44	0.34	0.3	0.57	0.74	0.51	DXPE
GIC	0.36		0.65	0.76	0.62	0.7	0.31	0.4	0.69	GIC
EVI	0.58	0.65		0.88	0.8	0.88	0.83	0.8	0.96	EVI
CNM	0.44	0.76	0.88		0.76	0.92	0.65	0.74	0.89	CNM
DSGR	0.34	0.62	0.8	0.76		0.73	0.69	0.7	0.87	DSGR
WCC-PA	0.3	0.7	0.88	0.92	0.73		0.62	0.63	0.9	WCC-PA
BXC	0.57	0.31	0.83	0.65	0.69	0.62		0.78	0.81	BXC
AIT	0.74	0.4	0.8	0.74	0.7	0.63	0.78		0.79	AIT
MSM	0.51	0.69	0.96	0.89	0.87	0.9	0.81	0.79		MSM
	DXPE	GIC	EVI	CNM	DSGR	WCC-PA	BXC	AIT	MSM

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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	1.83	0.17	0.09	0.28	1.84	(2.05)	3.81	(2.87)	9.85
GIC	1.40	0.15	0.14	0.26	0.99	(1.89)	3.51	(2.29)	18.42
EVI	2.82	0.40	0.17	0.41	2.30	(3.54)	7.13	(4.54)	16.57
CNM	1.43	0.22	0.16	0.33	1.12	(1.69)	3.20	(2.21)	12.44
DSGR	1.74	(0.13)	(0.02)	0.05	2.13	(1.95)	3.68	(3.74)	11.06
WCC-PA	0.04	0.01	(1.60)	1.22	0.00	(0.07)	0.12	(0.08)	0.28
BXC	2.49	(0.12)	0.00	0.07	3.45	(2.55)	6.61	(4.80)	19.00
AIT	1.62	0.02	0.05	0.15	1.85	(1.85)	3.60	(3.40)	10.50
MSM	1.22	0.04	0.04	0.17	1.06	(1.45)	3.43	(1.89)	8.73

Watsco Corporate Management

Barry CPA	Secretary Strategy	Profile
Barry Logan	Executive Secretary	Profile
Steven Rupp	Chief Officer	Profile
Rick Gomez	Vice Development	Profile

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