CECO Environmental Correlations

CECO Stock

USD 24.12 1.02 4.06%

The current 90-days correlation between CECO Environmental Corp and Energy Recovery is 0.34 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as CECO Environmental moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if CECO Environmental Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

CECO Environmental Correlation With Market

Weak diversification

The correlation between CECO Environmental Corp and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CECO Environmental Corp and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with CECO Stock

0.74	VLTO	Veralto	Pair Corr
0.89	ARQ	Arq Inc	Pair Corr
0.65	FSS	Federal Signal	Pair Corr
0.61	PCT	Purecycle Technologies	Pair Corr
0.77	ZWS	Zurn Elkay Water	Pair Corr
0.86	LIQT	LiqTech International	Pair Corr
0.66	ADUR	Aduro Clean Technologies	Pair Corr
0.89	SCWO	374Water Common Stock Earnings Call This Week	Pair Corr
0.69	PCTTW	PureCycle Technologies	Pair Corr
0.85	CLIR	ClearSign Combustion	Pair Corr
0.83	DEVS	DevvStream Corp Common Symbol Change	Pair Corr
0.79	J	Jacobs Solutions	Pair Corr
0.88	BV	BrightView Holdings	Pair Corr
0.91	BW	Babcock Wilcox Enter	Pair Corr
0.85	CW	Curtiss Wright	Pair Corr
0.64	DY	Dycom Industries	Pair Corr
0.81	GP	GreenPower Motor	Pair Corr

Moving against CECO Stock

0.54	ERII	Energy Recovery	Pair Corr
0.9	EH	Ehang Holdings	Pair Corr
0.8	G	Genpact Limited	Pair Corr
0.78	DE	Deere Company	Pair Corr
0.87	KC	Kingsoft Cloud Holdings	Pair Corr
0.81	SB	Safe Bulkers	Pair Corr
0.78	LZ	LegalZoom	Pair Corr
0.74	PC	Premium Catering	Pair Corr

Related Correlations Analysis

	FSS	ZWS	FTEK	MKUL	ERII	SCWO	COSLF
FSS		0.84	0.2	0.0	-0.69	0.49	0.0	FSS
ZWS	0.84		0.22	0.0	-0.66	0.63	0.0	ZWS
FTEK	0.2	0.22		0.0	-0.09	0.58	0.0	FTEK
MKUL	0.0	0.0	0.0		0.0	0.0	0.0	MKUL
ERII	-0.69	-0.66	-0.09	0.0		-0.32	0.0	ERII
SCWO	0.49	0.63	0.58	0.0	-0.32		0.0	SCWO
COSLF	0.0	0.0	0.0	0.0	0.0	0.0		COSLF
	FSS	ZWS	FTEK	MKUL	ERII	SCWO	COSLF

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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

ZWS	+ 0.84	FSS
SCWO	+ 0.63	ZWS
SCWO	+ 0.58	FTEK
SCWO	+ 0.49	FSS
FTEK	+ 0.22	ZWS
FTEK	+ 0.2	FSS

High negative correlations

ERII	- 0.69	FSS
ERII	- 0.66	ZWS
SCWO	- 0.32	ERII
ERII	- 0.09	FTEK
COSLF	- 0.0	SCWO
COSLF	- 0.0	ERII

Risk-Adjusted Indicators

There is a big difference between CECO Stock performing well and CECO Environmental 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 CECO Environmental'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
FSS	1.53	(0.28)	0.00	(0.32)	0.00	0.00	2.48	(3.30)	15.79
ZWS	1.17	(0.17)	0.00	(0.21)	0.00	0.00	1.83	(3.23)	5.78
FTEK	1.62	0.01	0.02	(0.01)	1.59	(2.98)	2.97	(2.94)	21.20
MKUL	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ERII	1.58	0.10	0.05	0.09	1.98	(1.66)	3.09	(3.54)	8.47
SCWO	3.90	(1.02)	0.00	(0.85)	0.00	0.00	8.57	(8.75)	27.11
COSLF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

CECO Environmental Corporate Management

Kiril Kovachev	Chief VP	Profile
Peter Johansson	Senior Officer	Profile
Paul Gohr	Chief Officer	Profile
Gennaro DAlterio	Pres Segment	Profile
Todd Gleason	CEO Director	Profile
Ramesh Nuggihalli	Chief Officer	Profile
Lynn WatkinsAsiyanbi	Corporate Counsel	Profile

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