WESCO International Correlations

Stocks . Germany . 
Stock . WESCO International
WP7 Stock  EUR 150.00  2.00  1.32%   
The current 90-days correlation between WESCO International and New Residential Investment is 0.03 (i.e., Significant 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

Good diversification

The correlation between WESCO International and DJI is -0.19 (i.e., Good 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.
  
The ability to find closely correlated positions to WESCO International could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace WESCO International when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back WESCO International - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling WESCO International to buy it.

Moving together with WESCO Stock

  0.8GWW WW GraingerPairCorr
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Moving against WESCO Stock

  0.763KF Auxly Cannabis Group Earnings Call TodayPairCorr
  0.47WAC Wacker Neuson SEPairCorr
  0.41SOBA ATT IncPairCorr
  0.46BW BW ENERGY LTDPairCorr
  0.85YSN secunet Security NetworksPairCorr
  0.84TKA thyssenkrupp AGPairCorr
  0.76DUBA DRDGoldPairCorr
  0.75PKX POSCO HoldingsPairCorr
  0.69CDF ENGENCOPairCorr
  0.64BTQ BT Group plcPairCorr
  0.56ROI Rosenbauer InternationalPairCorr
  0.52PEH PEH WERTPAPIERPairCorr
  0.49BRH Berkshire HathawayPairCorr
  0.46BY6A BYD Limited Earnings Call TodayPairCorr
  0.42SLW1 Swiss Life HoldingPairCorr
  0.36MBQ Mobotix AGPairCorr
  0.61KONN Komercn banka asPairCorr
  0.59QCG CALTAGIRONE SPA EOPairCorr
  0.57T62 TOHO ZINC LTDPairCorr
  0.52NEW Netcall PLCPairCorr
  0.48B4B3 Metro AGPairCorr
  0.44FB1 Farmer BrosPairCorr

Related Correlations Analysis

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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   
4VGA
+ 0.78
14N1
G7W
+ 0.72
14D
12P
+ 0.67
14N1
4VGA
+ 0.64
12P
G7W
+ 0.6
14N1
14N1
+ 0.56
14D
  
High negative correlations   
8P7
- 0.62
5QV
4H7
- 0.52
5QV
G7W
- 0.5
5QV
4H7
- 0.23
12P
5QV
- 0.21
14D
5QV
- 0.2
14N1

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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in WESCO International without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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WESCO International Corporate Management

Elected by the shareholders, the WESCO International's board of directors comprises two types of representatives: WESCO International inside directors who are chosen from within the company, and outside directors, selected externally and held independent of WESCO. The board's role is to monitor WESCO International's management team and ensure that shareholders' interests are well served. WESCO International's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, WESCO International's outside directors are responsible for providing unbiased perspectives on the board's policies.
David SchulzEx CFOProfile
William IIEx SolutionsProfile
Scott CFAVP RelationsProfile
Christine WolfEx OfficerProfile
Nelson IIIEx SolutionsProfile
Matthew KulasaCorp VPProfile
Hemant PorwalEx OperationsProfile
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