WESCO International Correlations

WCC Stock

USD 174.69 2.87 1.62%

The current 90-days correlation between WESCO International and Applied Industrial Technologies is 0.49 (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

Average diversification

The correlation between WESCO International and DJI is 0.13 (i.e., Average 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.

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

0.62

Ryder System

Pair Corr

Related Correlations Analysis

	DXPE	AIT	FERG	GIC	MSM	CNM	GWW	SITE	POOL	FAST
DXPE		-0.16	-0.57	-0.71	0.03	0.78	-0.61	-0.17	-0.54	-0.62	DXPE
AIT	-0.16		0.83	0.67	0.85	-0.03	0.62	0.8	0.69	0.81	AIT
FERG	-0.57	0.83		0.87	0.62	-0.29	0.83	0.8	0.86	0.93	FERG
GIC	-0.71	0.67	0.87		0.52	-0.42	0.94	0.77	0.93	0.93	GIC
MSM	0.03	0.85	0.62	0.52		0.08	0.54	0.78	0.58	0.66	MSM
CNM	0.78	-0.03	-0.29	-0.42	0.08		-0.32	0.06	-0.23	-0.44	CNM
GWW	-0.61	0.62	0.83	0.94	0.54	-0.32		0.75	0.87	0.86	GWW
SITE	-0.17	0.8	0.8	0.77	0.78	0.06	0.75		0.86	0.79	SITE
POOL	-0.54	0.69	0.86	0.93	0.58	-0.23	0.87	0.86		0.9	POOL
FAST	-0.62	0.81	0.93	0.93	0.66	-0.44	0.86	0.79	0.9		FAST
	DXPE	AIT	FERG	GIC	MSM	CNM	GWW	SITE	POOL	FAST

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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

GWW	+ 0.94	GIC
FAST	+ 0.93	FERG
POOL	+ 0.93	GIC
FAST	+ 0.93	GIC
FAST	+ 0.9	POOL
GIC	+ 0.87	FERG

High negative correlations

GIC	- 0.71	DXPE
FAST	- 0.62	DXPE
GWW	- 0.61	DXPE
FERG	- 0.57	DXPE
POOL	- 0.54	DXPE
FAST	- 0.44	CNM

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
DXPE	1.87	0.39	0.14	0.50	2.45	(1.97)	4.38	(3.85)	15.13
AIT	1.17	(0.12)	0.00	(0.10)	0.00	0.00	2.31	(2.35)	10.46
FERG	1.46	(0.20)	0.00	(0.22)	0.00	0.00	2.71	(2.80)	13.86
GIC	1.10	(0.19)	0.00	(0.16)	0.00	0.00	2.16	(2.83)	6.92
MSM	1.20	(0.06)	0.00	(0.07)	0.00	0.00	3.33	(2.30)	7.60
CNM	1.45	0.20	0.14	0.17	1.28	(1.74)	3.06	(2.26)	18.90
GWW	0.82	(0.24)	0.00	(0.30)	0.00	0.00	1.18	(1.80)	7.86
SITE	1.64	(0.08)	0.00	(0.07)	0.00	0.00	3.78	(3.42)	9.51
POOL	1.16	(0.05)	0.00	(0.07)	0.00	0.00	2.38	(2.37)	10.56
FAST	0.79	(0.14)	0.00	(0.22)	0.00	0.00	1.51	(1.79)	4.71

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