Wex Correlations

WEX Stock

USD 189.80 3.86 2.08%

The current 90-days correlation between Wex Inc and Fleetcor Technologies is -0.02 (i.e., Good diversification). The correlation of Wex 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Wex Correlation With Market

Very weak diversification

The correlation between Wex Inc and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wex Inc 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 Wex 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 income.

Moving together with Wex Stock

0.69	MG	Mistras Group	Pair Corr
0.73	BCO	Brinks Company	Pair Corr

Moving against Wex Stock

0.64	ESGLW	ESGL Holdings Limited	Pair Corr
0.64	PYCR	Paycor HCM	Pair Corr
0.53	INOD	Innodata Downward Rally	Pair Corr
0.48	WM	Waste Management	Pair Corr
0.45	DLX	Deluxe	Pair Corr
0.37	VIRC	Virco Manufacturing	Pair Corr
0.36	ACCO	Acco Brands	Pair Corr
0.58	AZ	A2Z Smart Technologies	Pair Corr
0.55	LZ	LegalZoom	Pair Corr
0.54	HI	Hillenbrand	Pair Corr
0.43	DIST	Distoken Acquisition	Pair Corr
0.42	AL	Air Lease	Pair Corr
0.38	BE	Bloom Energy Corp	Pair Corr
0.36	CR	Crane Company	Pair Corr

Related Correlations Analysis

	FLT	CSGS	SQSP	VRSN	ESMT	CCSI	GB	EVCM	NTCT	PRTH
FLT		-0.41	0.0	0.26	0.04	-0.49	0.02	-0.47	-0.17	-0.43	FLT
CSGS	-0.41		0.65	0.07	0.61	0.71	0.35	0.87	0.73	0.82	CSGS
SQSP	0.0	0.65		-0.06	0.75	0.23	0.41	0.58	0.57	0.39	SQSP
VRSN	0.26	0.07	-0.06		0.22	-0.1	-0.23	-0.13	0.3	0.1	VRSN
ESMT	0.04	0.61	0.75	0.22		0.22	0.1	0.37	0.64	0.44	ESMT
CCSI	-0.49	0.71	0.23	-0.1	0.22		0.21	0.74	0.56	0.63	CCSI
GB	0.02	0.35	0.41	-0.23	0.1	0.21		0.35	0.05	0.36	GB
EVCM	-0.47	0.87	0.58	-0.13	0.37	0.74	0.35		0.67	0.73	EVCM
NTCT	-0.17	0.73	0.57	0.3	0.64	0.56	0.05	0.67		0.57	NTCT
PRTH	-0.43	0.82	0.39	0.1	0.44	0.63	0.36	0.73	0.57		PRTH
	FLT	CSGS	SQSP	VRSN	ESMT	CCSI	GB	EVCM	NTCT	PRTH

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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

EVCM	+ 0.87	CSGS
PRTH	+ 0.82	CSGS
ESMT	+ 0.75	SQSP
EVCM	+ 0.74	CCSI
NTCT	+ 0.73	CSGS
PRTH	+ 0.73	EVCM

High negative correlations

CCSI	- 0.49	FLT
EVCM	- 0.47	FLT
PRTH	- 0.43	FLT
CSGS	- 0.41	FLT
GB	- 0.23	VRSN
NTCT	- 0.17	FLT

Risk-Adjusted Indicators

There is a big difference between Wex Stock performing well and Wex 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 Wex'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
FLT	1.09	(0.04)	0.00	(7.21)	0.00	0.00	1.95	(1.95)	9.73
CSGS	1.17	0.12	0.10	0.25	0.88	(1.43)	2.65	(1.69)	10.94
SQSP	0.22	0.08	(0.14)	1.46	0.00	(0.25)	0.73	(0.29)	2.09
VRSN	0.85	(0.07)	(0.10)	0.03	0.94	(0.97)	1.92	(1.89)	6.38
ESMT	1.57	0.17	(0.01)	(0.22)	1.90	(1.59)	3.90	(2.93)	9.34
CCSI	2.08	(0.09)	0.02	0.08	2.37	(2.39)	4.16	(3.62)	20.68
GB	2.68	0.37	0.06	4.75	3.54	(2.91)	4.72	(5.13)	23.79
EVCM	1.35	0.22	0.07	1.16	1.66	(1.56)	3.46	(2.45)	13.03
NTCT	1.45	(0.15)	(0.02)	0.04	1.79	(1.50)	3.23	(2.84)	10.35
PRTH	4.15	0.60	0.24	0.31	3.26	(5.18)	11.79	(5.60)	22.62

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