Core Main Correlations

CNM Stock

USD 58.15 1.29 2.27%

The current 90-days correlation between Core Main and Pool Corporation is 0.62 (i.e., Poor 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

Poor diversification

The correlation between Core Main and DJI is 0.6 (i.e., Poor 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 employment.

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

Moving together with Core Stock

0.78	DSGR	Distribution Solutions	Pair Corr
0.8	DXPE	DXP Enterprises	Pair Corr
0.74	WLFC	Willis Lease Finance	Pair Corr
0.81	FAST	Fastenal	Pair Corr
0.79	AIT	Applied Industrial Earnings Call This Week	Pair Corr
0.76	BXC	BlueLinx Holdings	Pair Corr
0.67	FTAI	Fortress Transp Infra	Pair Corr
0.86	GWW	WW Grainger	Pair Corr
0.74	HRI	Herc Holdings	Pair Corr
0.8	RUS	Russel Metals	Pair Corr
0.77	QXO	QXO Inc	Pair Corr
0.75	GATX	GATX Earnings Call This Week	Pair Corr
0.69	WSO	Watsco Inc	Pair Corr

Moving against Core Stock

0.43	000632	Fujian Sanmu Group	Pair Corr
0.54	600149	Langfang Development	Pair Corr

Related Correlations Analysis

	POOL	AIT	DCI	FLS	WMS	AOS	GNRC	WTS	ARMK	SWK
POOL		-0.02	-0.42	-0.74	-0.32	0.37	0.91	0.14	0.77	-0.11	POOL
AIT	-0.02		0.82	0.53	0.74	0.7	-0.11	0.83	0.34	0.91	AIT
DCI	-0.42	0.82		0.76	0.85	0.51	-0.44	0.69	-0.03	0.84	DCI
FLS	-0.74	0.53	0.76		0.62	-0.03	-0.73	0.25	-0.45	0.5	FLS
WMS	-0.32	0.74	0.85	0.62		0.42	-0.34	0.58	0.02	0.76	WMS
AOS	0.37	0.7	0.51	-0.03	0.42		0.32	0.79	0.6	0.74	AOS
GNRC	0.91	-0.11	-0.44	-0.73	-0.34	0.32		0.0	0.65	-0.16	GNRC
WTS	0.14	0.83	0.69	0.25	0.58	0.79	0.0		0.51	0.85	WTS
ARMK	0.77	0.34	-0.03	-0.45	0.02	0.6	0.65	0.51		0.29	ARMK
SWK	-0.11	0.91	0.84	0.5	0.76	0.74	-0.16	0.85	0.29		SWK
	POOL	AIT	DCI	FLS	WMS	AOS	GNRC	WTS	ARMK	SWK

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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

GNRC	+ 0.91	POOL
SWK	+ 0.91	AIT
WMS	+ 0.85	DCI
SWK	+ 0.85	WTS
SWK	+ 0.84	DCI
WTS	+ 0.83	AIT

High negative correlations

FLS	- 0.74	POOL
GNRC	- 0.73	FLS
ARMK	- 0.45	FLS
GNRC	- 0.44	DCI
DCI	- 0.42	POOL
GNRC	- 0.34	WMS

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
POOL	1.35	(0.23)	0.00	(0.13)	0.00	0.00	3.03	(2.65)	6.57
AIT	1.02	0.11	0.09	0.17	1.04	(1.08)	2.70	(1.73)	7.04
DCI	1.06	0.24	0.21	0.31	0.78	(1.22)	2.23	(1.74)	9.29
FLS	1.72	0.62	0.41	0.72	0.92	(2.13)	2.55	(2.33)	34.18
WMS	1.36	0.08	0.06	0.14	1.32	(1.51)	3.31	(2.46)	11.59
AOS	0.97	0.07	0.02	0.47	1.28	(0.99)	2.15	(2.21)	5.66
GNRC	2.37	(0.37)	0.00	(0.09)	0.00	0.00	4.08	(5.41)	11.59
WTS	0.99	(0.01)	0.00	0.06	1.35	(1.20)	2.75	(1.61)	9.37
ARMK	1.00	(0.10)	0.00	(0.04)	0.00	0.00	1.78	(2.47)	8.33
SWK	1.58	0.17	0.13	0.15	1.51	(1.83)	4.60	(2.67)	8.49

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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