DXP Enterprises Correlations

DXPE Stock

USD 77.00 3.80 4.70%

The current 90-days correlation between DXP Enterprises and Global Industrial Co is -0.08 (i.e., Good diversification). The correlation of DXP Enterprises 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.

DXP Enterprises Correlation With Market

Poor diversification

The correlation between DXP Enterprises and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding DXP Enterprises and DJI in the same portfolio, assuming nothing else is changed.

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Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in DXP Enterprises. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

For information on how to trade DXP Stock refer to our How to Trade DXP Stock guide.

Moving together with DXP Stock

0.85	DSGR	Distribution Solutions	Pair Corr
0.84	FERG	Ferguson Plc	Pair Corr
0.89	AIT	Applied Industrial Earnings Call Tomorrow	Pair Corr
0.95	BXC	BlueLinx Holdings Earnings Call This Week	Pair Corr
0.95	CNM	Core Main	Pair Corr
0.83	GIC	Global Industrial Earnings Call This Week	Pair Corr
0.83	GWW	WW Grainger Earnings Call Tomorrow	Pair Corr
0.71	MSM	MSC Industrial Direct	Pair Corr
0.89	WCC	WESCO International	Pair Corr
0.92	REZI	Resideo Technologies	Pair Corr
0.88	SITE	SiteOne Landscape Supply Earnings Call This Week	Pair Corr
0.92	J	Jacobs Solutions	Pair Corr
0.82	R	Ryder System Earnings Call Tomorrow	Pair Corr
0.74	AP	Ampco Pittsburgh	Pair Corr
0.8	BA	Boeing Earnings Call Today	Pair Corr
0.64	BE	Bloom Energy Corp	Pair Corr
0.9	BV	BrightView Holdings Earnings Call This Week	Pair Corr
0.87	BW	Babcock Wilcox Enter	Pair Corr
0.77	CP	Canadian Pacific Railway Earnings Call Today	Pair Corr
0.84	CR	Crane Company	Pair Corr
0.84	CW	Curtiss Wright Earnings Call This Week	Pair Corr
0.92	DY	Dycom Industries	Pair Corr
0.89	FA	First Advantage Corp	Pair Corr

Moving against DXP Stock

0.84	WCC-PA	WESCO International	Pair Corr
0.47	FAST	Fastenal	Pair Corr
0.31	WSO	Watsco Inc Earnings Call Today	Pair Corr
0.31	BECN	Beacon Roofing Supply Sell-off Trend	Pair Corr
0.36	GD	General Dynamics Earnings Call Today	Pair Corr
0.33	AZ	A2Z Smart Technologies	Pair Corr

Related Correlations Analysis

	GIC	EVI	CNM	WSO-B	DSGR	WCC-PA	BXC	AIT	FERG	MSM
GIC		0.01	0.84	-0.7	0.91	-0.84	0.85	0.85	0.85	0.84	GIC
EVI	0.01		-0.07	0.02	0.14	0.17	0.05	-0.09	-0.16	-0.01	EVI
CNM	0.84	-0.07		-0.82	0.82	-0.86	0.94	0.85	0.85	0.7	CNM
WSO-B	-0.7	0.02	-0.82		-0.79	0.82	-0.89	-0.67	-0.67	-0.5	WSO-B
DSGR	0.91	0.14	0.82	-0.79		-0.86	0.9	0.77	0.73	0.75	DSGR
WCC-PA	-0.84	0.17	-0.86	0.82	-0.86		-0.9	-0.81	-0.79	-0.62	WCC-PA
BXC	0.85	0.05	0.94	-0.89	0.9	-0.9		0.83	0.8	0.66	BXC
AIT	0.85	-0.09	0.85	-0.67	0.77	-0.81	0.83		0.95	0.81	AIT
FERG	0.85	-0.16	0.85	-0.67	0.73	-0.79	0.8	0.95		0.83	FERG
MSM	0.84	-0.01	0.7	-0.5	0.75	-0.62	0.66	0.81	0.83		MSM
	GIC	EVI	CNM	WSO-B	DSGR	WCC-PA	BXC	AIT	FERG	MSM

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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

FERG	+ 0.95	AIT
BXC	+ 0.94	CNM
DSGR	+ 0.91	GIC
BXC	+ 0.9	DSGR
BXC	+ 0.85	GIC
AIT	+ 0.85	GIC

High negative correlations

BXC	- 0.9	WCC-PA
BXC	- 0.89	WSO-B
WCC-PA	- 0.86	DSGR
WCC-PA	- 0.86	CNM
WCC-PA	- 0.84	GIC
WSO-B	- 0.82	CNM

Risk-Adjusted Indicators

There is a big difference between DXP Stock performing well and DXP Enterprises 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 DXP Enterprises' 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
GIC	1.40	(0.20)	0.00	1.53	0.00	0.00	2.33	(3.10)	8.06
EVI	2.68	(0.13)	0.00	0.18	0.00	0.00	5.07	(6.39)	19.19
CNM	1.57	0.04	0.00	(0.15)	0.00	0.00	2.86	(2.92)	12.01
WSO-B	0.61	0.14	0.15	13.75	0.62	(1.82)	1.79	(1.67)	12.76
DSGR	1.83	(0.36)	0.00	(12.13)	0.00	0.00	4.27	(3.81)	15.32
WCC-PA	0.07	0.01	1.81	9.44	0.00	(0.10)	0.20	(0.16)	0.48
BXC	2.22	(0.44)	0.00	(0.63)	0.00	0.00	4.41	(4.76)	12.95
AIT	1.87	(0.20)	0.00	1.13	0.00	0.00	3.00	(4.71)	17.46
FERG	1.59	(0.12)	0.00	0.39	0.00	0.00	2.53	(2.80)	13.24
MSM	1.48	(0.04)	0.00	(1.04)	0.00	0.00	3.10	(2.95)	10.01

DXP Enterprises Corporate Management

Todd Hamlin	Sr. VP of Service Centers	Profile
David Santos	VP Officer	Profile
Christopher Gregory	Chief VP	Profile
Paz Maestas	Senior Officer	Profile
David Sr	Senior Operations	Profile
Wick Norbert	VP Controller	Profile

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