MSC Industrial Correlations

MSM Stock

USD 85.41 1.28 1.52%

The current 90-days correlation between MSC Industrial Direct and DXP Enterprises is 0.43 (i.e., Very weak 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 0.75 (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.

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 state.

Moving together with MSC Stock

0.61	DSGR	Distribution Solutions	Pair Corr
0.66	DXPE	DXP Enterprises	Pair Corr
0.64	FERG	Ferguson Plc Earnings Call This Week	Pair Corr
0.66	AIT	Applied Industrial	Pair Corr
0.69	BXC	BlueLinx Holdings	Pair Corr
0.62	WCC	WESCO International	Pair Corr
0.75	WSO	Watsco Inc	Pair Corr
0.78	SITE	SiteOne Landscape Supply	Pair Corr
0.74	R	Ryder System	Pair Corr
0.67	AL	Air Lease	Pair Corr
0.62	BV	BrightView Holdings	Pair Corr
0.68	CR	Crane Company	Pair Corr
0.61	CW	Curtiss Wright	Pair Corr

Moving against MSC Stock

0.41	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.31	RR	Richtech Robotics Class	Pair Corr

Related Correlations Analysis

	DXPE	CNM	GWW	SITE	AIT	FERG	GIC	FAST	WSO	DSGR
DXPE		0.02	0.76	0.29	0.85	0.54	-0.62	0.73	0.86	0.3	DXPE
CNM	0.02		0.03	0.26	0.05	0.73	0.26	0.04	0.13	0.36	CNM
GWW	0.76	0.03		0.4	0.97	0.38	-0.59	0.99	0.85	0.63	GWW
SITE	0.29	0.26	0.4		0.43	0.49	0.06	0.36	0.51	0.65	SITE
AIT	0.85	0.05	0.97	0.43		0.45	-0.62	0.95	0.91	0.59	AIT
FERG	0.54	0.73	0.38	0.49	0.45		-0.07	0.37	0.57	0.44	FERG
GIC	-0.62	0.26	-0.59	0.06	-0.62	-0.07		-0.63	-0.43	0.09	GIC
FAST	0.73	0.04	0.99	0.36	0.95	0.37	-0.63		0.8	0.61	FAST
WSO	0.86	0.13	0.85	0.51	0.91	0.57	-0.43	0.8		0.55	WSO
DSGR	0.3	0.36	0.63	0.65	0.59	0.44	0.09	0.61	0.55		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	+ 0.99	GWW
AIT	+ 0.97	GWW
FAST	+ 0.95	AIT
WSO	+ 0.91	AIT
WSO	+ 0.86	DXPE
AIT	+ 0.85	DXPE

High negative correlations

FAST	- 0.63	GIC
GIC	- 0.62	AIT
GIC	- 0.62	DXPE
GIC	- 0.59	GWW
WSO	- 0.43	GIC
GIC	- 0.07	FERG

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	2.04	0.34	0.23	0.29	1.64	(2.79)	3.89	(2.97)	22.06
CNM	1.94	(0.31)	0.00	(0.12)	0.00	0.00	3.49	(3.55)	18.95
GWW	1.03	0.15	0.20	0.23	0.66	(1.24)	2.52	(1.45)	8.66
SITE	1.77	(0.03)	0.01	0.10	1.94	(2.09)	3.93	(3.24)	11.76
AIT	1.39	0.22	0.32	0.22	0.73	(1.83)	3.17	(1.63)	15.15
FERG	1.32	(0.13)	(0.06)	0.01	1.85	(1.26)	2.15	(2.70)	10.59
GIC	1.57	(0.43)	0.00	(0.09)	0.00	0.00	2.27	(2.31)	24.01
FAST	0.97	0.16	0.24	0.24	0.49	(1.28)	1.52	(1.58)	11.50
WSO	1.35	0.06	0.07	0.16	1.51	(1.44)	2.41	(3.18)	9.11
DSGR	1.65	(0.19)	(0.01)	0.04	1.97	(1.92)	3.54	(2.89)	18.72

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