Energy Recovery Correlations

ERII Stock

USD 16.11 0.20 1.23%

The current 90-days correlation between Energy Recovery and CECO Environmental Corp is 0.32 (i.e., Weak diversification). The correlation of Energy Recovery 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.

Energy Recovery Correlation With Market

Weak diversification

The correlation between Energy Recovery and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Energy Recovery and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Energy Recovery. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

For more detail on how to invest in Energy Stock please use our How to Invest in Energy Recovery guide.

Moving together with Energy Stock

0.65

Kanzhun Ltd ADR

Pair Corr

Moving against Energy Stock

0.68	TOMZ	TOMI Environmental	Pair Corr
0.61	J	Jacobs Solutions	Pair Corr
0.59	FSS	Federal Signal	Pair Corr
0.55	ATMU	Atmus Filtration Tec	Pair Corr
0.53	ADUR	Aduro Clean Technologies	Pair Corr
0.52	CLIR	ClearSign Combustion	Pair Corr
0.51	AP	Ampco Pittsburgh Earnings Call This Week	Pair Corr
0.5	ZWS	Zurn Elkay Water	Pair Corr
0.5	BA	Boeing	Pair Corr
0.47	R	Ryder System	Pair Corr
0.44	LIQT	LiqTech International	Pair Corr
0.43	CHNR	China Natural Resources	Pair Corr
0.41	CECO	CECO Environmental Corp	Pair Corr
0.4	BV	BrightView Holdings	Pair Corr
0.39	ARQ	Arq Inc	Pair Corr
0.37	DEVS	DevvStream Corp Common Symbol Change	Pair Corr
0.34	VLTO	Veralto	Pair Corr
0.32	DIST	Distoken Acquisition	Pair Corr
0.64	DY	Dycom Industries	Pair Corr
0.63	HI	Hillenbrand	Pair Corr
0.57	FA	First Advantage Corp	Pair Corr
0.55	RR	Richtech Robotics Class Buyout Trend	Pair Corr
0.55	TH	Target Hospitality Corp	Pair Corr
0.53	HY	Hyster Yale Materials	Pair Corr
0.49	TE	T1 Energy Symbol Change	Pair Corr
0.45	KE	Kimball Electronics	Pair Corr
0.42	TG	Tredegar	Pair Corr
0.4	PH	Parker Hannifin	Pair Corr
0.39	FC	Franklin Covey Earnings Call This Week	Pair Corr

Related Correlations Analysis

	ZWS	CECO	SCWO	MKUL	FSS	COSLF	LIQT	CLIR
ZWS		0.79	0.67	0.0	0.83	0.0	0.79	0.79	ZWS
CECO	0.79		0.89	0.0	0.64	0.0	0.87	0.84	CECO
SCWO	0.67	0.89		0.0	0.49	0.0	0.78	0.69	SCWO
MKUL	0.0	0.0	0.0		0.0	0.0	0.0	0.0	MKUL
FSS	0.83	0.64	0.49	0.0		0.0	0.79	0.7	FSS
COSLF	0.0	0.0	0.0	0.0	0.0		0.0	0.0	COSLF
LIQT	0.79	0.87	0.78	0.0	0.79	0.0		0.77	LIQT
CLIR	0.79	0.84	0.69	0.0	0.7	0.0	0.77		CLIR
	ZWS	CECO	SCWO	MKUL	FSS	COSLF	LIQT	CLIR

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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

SCWO	+ 0.89	CECO
LIQT	+ 0.87	CECO
CLIR	+ 0.84	CECO
FSS	+ 0.83	ZWS
CECO	+ 0.79	ZWS
LIQT	+ 0.79	ZWS

High negative correlations

CLIR	- 0.0	COSLF
LIQT	- 0.0	COSLF
COSLF	- 0.0	FSS
CLIR	- 0.0	MKUL
LIQT	- 0.0	MKUL
COSLF	- 0.0	MKUL

Risk-Adjusted Indicators

There is a big difference between Energy Stock performing well and Energy Recovery 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 Energy Recovery'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
ZWS	1.13	(0.19)	(0.27)	1.82	(3.23)	5.78
CECO	2.05	(0.38)	(0.49)	3.83	(4.56)	12.38
SCWO	3.86	(1.49)	2.02	5.88	(8.75)	27.11
MKUL	0.00	0.00	0.00	0.00	0.00	0.00
FSS	1.50	(0.29)	(0.40)	2.31	(3.30)	15.79
COSLF	0.00	0.00	0.00	0.00	0.00	0.00
LIQT	2.90	(0.47)	0.38	6.18	(6.08)	17.32
CLIR	4.50	(0.40)	0.44	10.13	(8.61)	40.44

Energy Recovery Corporate Management

James Siccardi	Vice Relations	Profile
Brandon Young	Interim Officer	Profile
Ram Ramanan	Chief Officer	Profile
Joshua CFA	Chief Officer	Profile
William JD	Chief Board	Profile
Kelley Vendeland	Vice Sustainability	Profile

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