Core Main Correlations

CNM Stock

USD 49.50 0.25 0.51%

The current 90-days correlation between Core Main and Applied Industrial Technologies is 0.37 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Core Main moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Core Main moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Core Main Correlation With Market

Average diversification

The correlation between Core Main and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Core Main and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Core Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Core Main. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

To learn how to invest in Core Stock, please use our How to Invest in Core Main guide.

Moving together with Core Stock

0.97

WSO-B

Watsco Inc

Pair Corr

Moving against Core Stock

0.76	EHL	Emeco Holdings	Pair Corr
0.71	AL	Air Lease Sell-off Trend	Pair Corr
0.7	EVI	EVI Industries	Pair Corr
0.56	600500	Sinochem International	Pair Corr
0.55	AER	AerCap Holdings NV	Pair Corr
0.72	FTAI	Fortress Transp Infra	Pair Corr
0.72	GATX	GATX	Pair Corr
0.58	XMTR	Xometry	Pair Corr
0.55	FTT	Finning International	Pair Corr
0.5	WJX	Wajax	Pair Corr
0.46	MSM	MSC Industrial Direct	Pair Corr
0.46	URI	United Rentals	Pair Corr
0.38	IGC	India Globalization	Pair Corr
0.32	GIC	Global Industrial	Pair Corr
0.31	GMS	GMS Inc	Pair Corr

Related Correlations Analysis

	DSGR	GIC	AIT	BXC	MSM	DXPE	GWW	SITE	WSO	FAST
DSGR		0.64	0.49	0.42	0.25	0.53	-0.04	0.86	-0.39	0.74	DSGR
GIC	0.64		0.08	-0.03	0.5	0.85	-0.51	0.57	-0.9	0.67	GIC
AIT	0.49	0.08		0.15	-0.08	0.14	0.24	0.61	0.23	0.3	AIT
BXC	0.42	-0.03	0.15		0.4	-0.13	0.68	0.52	0.2	0.16	BXC
MSM	0.25	0.5	-0.08	0.4		0.44	0.12	0.29	-0.44	0.31	MSM
DXPE	0.53	0.85	0.14	-0.13	0.44		-0.46	0.4	-0.76	0.75	DXPE
GWW	-0.04	-0.51	0.24	0.68	0.12	-0.46		0.13	0.59	-0.16	GWW
SITE	0.86	0.57	0.61	0.52	0.29	0.4	0.13		-0.25	0.55	SITE
WSO	-0.39	-0.9	0.23	0.2	-0.44	-0.76	0.59	-0.25		-0.49	WSO
FAST	0.74	0.67	0.3	0.16	0.31	0.75	-0.16	0.55	-0.49		FAST
	DSGR	GIC	AIT	BXC	MSM	DXPE	GWW	SITE	WSO	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

SITE	+ 0.86	DSGR
DXPE	+ 0.85	GIC
FAST	+ 0.75	DXPE
FAST	+ 0.74	DSGR
GWW	+ 0.68	BXC
FAST	+ 0.67	GIC

High negative correlations

WSO	- 0.9	GIC
WSO	- 0.76	DXPE
GWW	- 0.51	GIC
FAST	- 0.49	WSO
GWW	- 0.46	DXPE
WSO	- 0.44	MSM

Risk-Adjusted Indicators

There is a big difference between Core Stock performing well and Core Main 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 Core Main'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	1.46	(0.09)	0.00	(0.04)	0.00	0.00	3.95	(2.72)	9.82
GIC	1.62	0.32	0.22	0.36	1.15	(2.15)	2.54	(2.55)	30.36
AIT	1.18	(0.08)	0.00	(0.04)	0.00	0.00	2.51	(2.41)	9.56
BXC	2.12	(0.31)	0.00	(0.13)	0.00	0.00	4.26	(4.13)	15.19
MSM	1.01	(0.13)	0.00	(0.08)	0.00	0.00	2.33	(2.02)	6.65
DXPE	2.37	0.35	0.14	0.21	2.45	(2.82)	5.49	(4.49)	14.93
GWW	1.06	(0.17)	0.00	(0.09)	0.00	0.00	2.22	(2.17)	11.56
SITE	1.81	(0.18)	0.00	(0.10)	0.00	0.00	4.80	(3.33)	16.85
WSO	1.53	(0.41)	0.00	(0.26)	0.00	0.00	2.38	(3.60)	7.19
FAST	0.97	0.06	0.05	0.10	1.27	(1.01)	2.31	(1.99)	8.69

Core Main Corporate Management

Ian Rorick	Director	Profile
Dennis Gipson	Independent Director	Profile
Laura Schneider	Chief Human Resource Officer	Profile
Mark Whittenburg	General Counsel, Company Secretary	Profile
James Castellano	Independent Director	Profile
Nathan Sleeper	Director	Profile
Robyn Bradbury	Analysis Planning	Profile

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