MSC Industrial Correlations

MSM Stock

USD 90.66 0.17 0.19%

The current 90-days correlation between MSC Industrial Direct and DXP Enterprises is 0.26 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as MSC Industrial moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if MSC Industrial Direct moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

MSC Industrial Correlation With Market

Poor diversification

The correlation between MSC Industrial Direct and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MSC Industrial Direct and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with MSC Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in MSC Industrial Direct. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with MSC Stock

0.67	DSGR	Distribution Solutions	Pair Corr
0.66	DXPE	DXP Enterprises	Pair Corr
0.68	FAST	Fastenal	Pair Corr
0.71	FERG	Ferguson Plc	Pair Corr
0.78	AIT	Applied Industrial	Pair Corr
0.92	BXC	BlueLinx Holdings	Pair Corr
0.8	CNM	Core Main	Pair Corr
0.94	EVI	EVI Industries	Pair Corr
0.84	WCC	WESCO International	Pair Corr
0.84	WXM	WF International	Pair Corr
0.72	SITE	SiteOne Landscape Supply	Pair Corr
0.72	G	Genpact Limited	Pair Corr
0.7	J	Jacobs Solutions	Pair Corr
0.88	R	Ryder System	Pair Corr
0.76	BA	Boeing	Pair Corr
0.76	CR	Crane Company	Pair Corr
0.69	CW	Curtiss Wright	Pair Corr
0.7	DY	Dycom Industries	Pair Corr
0.8	GD	General Dynamics	Pair Corr
0.62	GE	GE Aerospace	Pair Corr
0.73	HI	Hillenbrand	Pair Corr

Moving against MSC Stock

0.43	GWW	WW Grainger	Pair Corr
0.39	CP	Canadian Pacific Railway	Pair Corr
0.37	BV	BrightView Holdings	Pair Corr
0.46	NL	NL Industries	Pair Corr
0.39	GP	GreenPower Motor	Pair Corr
0.38	RR	Richtech Robotics Class Buyout Trend	Pair Corr
0.33	PN	Skycorp Solar Group	Pair Corr

Related Correlations Analysis

	DXPE	CNM	GWW	SITE	AIT	FERG	GIC	FAST	WSO	DSGR
DXPE		0.84	-0.74	0.91	0.91	0.63	0.87	0.94	-0.17	0.92	DXPE
CNM	0.84		-0.63	0.86	0.92	0.88	0.67	0.84	0.06	0.77	CNM
GWW	-0.74	-0.63		-0.67	-0.64	-0.58	-0.78	-0.65	0.46	-0.67	GWW
SITE	0.91	0.86	-0.67		0.86	0.75	0.9	0.88	-0.21	0.92	SITE
AIT	0.91	0.92	-0.64	0.86		0.72	0.68	0.9	0.14	0.79	AIT
FERG	0.63	0.88	-0.58	0.75	0.72		0.57	0.69	-0.1	0.62	FERG
GIC	0.87	0.67	-0.78	0.9	0.68	0.57		0.81	-0.56	0.9	GIC
FAST	0.94	0.84	-0.65	0.88	0.9	0.69	0.81		-0.13	0.91	FAST
WSO	-0.17	0.06	0.46	-0.21	0.14	-0.1	-0.56	-0.13		-0.29	WSO
DSGR	0.92	0.77	-0.67	0.92	0.79	0.62	0.9	0.91	-0.29		DSGR
	DXPE	CNM	GWW	SITE	AIT	FERG	GIC	FAST	WSO	DSGR

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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

FAST	+ 0.94	DXPE
DSGR	+ 0.92	DXPE
AIT	+ 0.92	CNM
DSGR	+ 0.92	SITE
SITE	+ 0.91	DXPE
AIT	+ 0.91	DXPE

High negative correlations

GIC	- 0.78	GWW
GWW	- 0.74	DXPE
DSGR	- 0.67	GWW
SITE	- 0.67	GWW
FAST	- 0.65	GWW
AIT	- 0.64	GWW

Risk-Adjusted Indicators

There is a big difference between MSC Stock performing well and MSC Industrial 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 MSC Industrial'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	2.20	0.41	0.20	0.38	2.08	(2.58)	5.49	(2.87)	14.93
CNM	1.20	0.17	0.18	0.25	0.80	(1.49)	2.76	(1.80)	12.44
GWW	1.10	(0.25)	0.00	(0.06)	0.00	0.00	2.22	(1.72)	11.98
SITE	1.91	0.14	0.13	0.18	1.67	(2.25)	5.09	(3.28)	13.95
AIT	1.30	0.08	0.08	0.16	1.61	(1.44)	3.23	(2.12)	10.61
FERG	1.16	0.31	0.35	0.44	0.38	(1.53)	2.09	(1.52)	19.00
GIC	1.66	0.46	0.37	0.59	0.82	(2.34)	3.54	(2.49)	29.78
FAST	0.92	0.22	0.23	0.34	0.59	(1.10)	2.42	(1.54)	6.15
WSO	1.34	(0.31)	0.00	(0.12)	0.00	0.00	2.56	(3.14)	7.93
DSGR	1.59	0.12	0.15	0.17	1.19	(2.06)	4.16	(2.34)	8.92

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