Global Industrial Correlations

GIC Stock

USD 22.37 0.29 1.28%

The current 90-days correlation between Global Industrial and Distribution Solutions Group is 0.64 (i.e., Poor diversification). The correlation of Global Industrial 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.

Global Industrial Correlation With Market

Very weak diversification

The correlation between Global Industrial Co and DJI is 0.53 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global Industrial Co and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Global Industrial Co. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Global Stock

0.83	DSGR	Distribution Solutions	Pair Corr
0.72	FERG	Ferguson Plc	Pair Corr
0.85	BXC	BlueLinx Holdings	Pair Corr
0.91	GWW	WW Grainger	Pair Corr
0.64	WCC	WESCO International	Pair Corr
0.89	REZI	Resideo Technologies	Pair Corr
0.79	SITE	SiteOne Landscape Supply	Pair Corr
0.7	TRNS	Transcat	Pair Corr
0.82	J	Jacobs Solutions	Pair Corr
0.65	R	Ryder System	Pair Corr
0.81	BV	BrightView Holdings	Pair Corr
0.73	BW	Babcock Wilcox Enter	Pair Corr
0.71	CW	Curtiss Wright	Pair Corr
0.71	FA	First Advantage Corp	Pair Corr
0.65	GP	GreenPower Motor	Pair Corr

Moving against Global Stock

0.77	WCC-PA	WESCO International	Pair Corr
0.53	G	Genpact Limited	Pair Corr
0.39	BECN	Beacon Roofing Supply	Pair Corr
0.32	DNOW	Now Inc	Pair Corr
0.66	KC	Kingsoft Cloud Holdings	Pair Corr
0.63	EH	Ehang Holdings	Pair Corr
0.6	PC	Premium Catering	Pair Corr
0.57	LZ	LegalZoom	Pair Corr
0.49	GE	GE Aerospace	Pair Corr
0.37	MG	Mistras Group	Pair Corr
0.31	DE	Deere Company	Pair Corr

Related Correlations Analysis

	DSGR	CNM	AIT	BXC	DXPE	EVI	WSO-B	FERG	MSM
DSGR		0.38	0.32	0.83	-0.12	0.01	0.17	0.45	0.0	DSGR
CNM	0.38		0.89	0.78	0.83	-0.13	-0.51	0.84	0.59	CNM
AIT	0.32	0.89		0.7	0.74	-0.25	-0.41	0.9	0.65	AIT
BXC	0.83	0.78	0.7		0.37	-0.05	-0.13	0.76	0.25	BXC
DXPE	-0.12	0.83	0.74	0.37		-0.08	-0.68	0.56	0.65	DXPE
EVI	0.01	-0.13	-0.25	-0.05	-0.08		0.09	-0.2	0.0	EVI
WSO-B	0.17	-0.51	-0.41	-0.13	-0.68	0.09		-0.18	-0.59	WSO-B
FERG	0.45	0.84	0.9	0.76	0.56	-0.2	-0.18		0.52	FERG
MSM	0.0	0.59	0.65	0.25	0.65	0.0	-0.59	0.52		MSM
	DSGR	CNM	AIT	BXC	DXPE	EVI	WSO-B	FERG	MSM

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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

FERG	+ 0.9	AIT
AIT	+ 0.89	CNM
FERG	+ 0.84	CNM
BXC	+ 0.83	DSGR
DXPE	+ 0.83	CNM
BXC	+ 0.78	CNM

High negative correlations

WSO-B	- 0.68	DXPE
MSM	- 0.59	WSO-B
WSO-B	- 0.51	CNM
WSO-B	- 0.41	AIT
EVI	- 0.25	AIT
FERG	- 0.2	EVI

Risk-Adjusted Indicators

There is a big difference between Global Stock performing well and Global Industrial 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 Global Industrial'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
DSGR	1.71	(0.37)	0.00	(0.48)	0.00	0.00	3.58	(3.81)	13.85
CNM	1.24	(0.05)	0.00	(0.11)	0.00	0.00	2.53	(2.77)	8.03
AIT	1.37	(0.13)	0.00	(0.17)	0.00	0.00	2.59	(3.87)	10.46
BXC	1.97	(0.47)	0.00	(0.40)	0.00	0.00	3.47	(3.99)	14.89
DXPE	2.55	0.27	0.07	0.13	3.27	(2.59)	5.24	(5.28)	15.13
EVI	2.44	0.06	0.02	0.00	3.47	(2.31)	4.71	(5.23)	19.19
WSO-B	0.73	(0.05)	0.00	(0.49)	0.00	0.00	1.79	(2.06)	12.76
FERG	1.33	(0.13)	0.00	(0.20)	0.00	0.00	2.44	(2.80)	8.55
MSM	1.40	(0.03)	0.00	(0.09)	0.00	0.00	3.33	(2.81)	7.60

Global Industrial Corporate Management

Adina Esq	General VP	Profile
Eric Lerner	Senior Vice President General Counsel	Profile
Robert Leeds	Vice Chairman of the Board	Profile
Thomas Axmacher	Vice President Controller	Profile
Lisa Armstrong	Senior Officer	Profile
Chad Lindbloom	Independent Director	Profile

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