Perma-Fix Environmental Correlations

Stocks . Germany . 
Stock . Perma Fix Environmental Services
PFX1 Stock  EUR 6.85  0.55  7.43%   
The current 90-days correlation between Perma Fix Environmental and Nomad Foods is -0.09 (i.e., Good diversification). The correlation of Perma-Fix Environmental 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.

Perma-Fix Environmental Correlation With Market

Good diversification

The correlation between Perma Fix Environmental Servic and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Perma Fix Environmental Servic and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Perma-Fix Environmental could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Perma-Fix Environmental when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Perma-Fix Environmental - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Perma Fix Environmental Services to buy it.

Moving together with Perma-Fix Stock

  0.81NVJP Umicore SAPairCorr
  0.93CH6 Clean HarborsPairCorr
  0.94HO1 HologicPairCorr
  0.74YMI Yellow Pages LimitedPairCorr
  0.89DBPD Xtrackers ShortDAXPairCorr

Moving against Perma-Fix Stock

  0.9VVD Veolia EnvironnementPairCorr
  0.89VVDH Veolia EnvironnementPairCorr
  0.89VVDH Veolia EnvironnementPairCorr
  0.89VVD Veolia EnvironnementPairCorr
  0.85SLT SCHALTBAU HOLDINGPairCorr
  0.74RPU Republic ServicesPairCorr
  0.74IPOK Heidelberger BeteiligungsholdPairCorr
  0.48UWS Waste ManagementPairCorr
  0.4C2H Copa Holdings SAPairCorr
  0.34UI51 Waste ConnectionsPairCorr
  0.3436E GFL ENVIRONM(SUBVTSHPairCorr
  0.975TP BLUE LABELPairCorr
  0.97TKA thyssenkrupp AGPairCorr
  0.96BSN Danone SAPairCorr
  0.943RE Rejlerkoncernen ABPairCorr
  0.93JYS1 JYSKE BANKPairCorr
  0.88T62 TOHO ZINC LTDPairCorr
  0.88DBPE Xtrackers LevDAXPairCorr
  0.75TLLB Trelleborg ABPairCorr
  0.68E908 Lyxor 1PairCorr
  0.63KEI KEISEI EL RAILWAYPairCorr
  0.56ROM Rohm CoPairCorr
  0.43HUKI HUHTAMAKIPairCorr
  0.4MRG Outcrop Silver GoldPairCorr

Related Correlations Analysis

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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   
WIQ
+ 0.92
UCE
TMD0
+ 0.7
UCE
WIQ
+ 0.67
TMD0
UN3
+ 0.66
Z85
UN3
+ 0.6
WIQ
UN3
+ 0.47
UCE
  
High negative correlations   
UCE
- 0.82
0NH
WIQ
- 0.7
0NH
TMD0
- 0.69
0NH
UN3
- 0.43
P5P
WIQ
- 0.43
P5P
P5P
- 0.35
UCE

Risk-Adjusted Indicators

There is a big difference between Perma-Fix Stock performing well and Perma-Fix 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 Perma-Fix 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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Perma-Fix Environmental without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Perma-Fix Environmental Corporate Management

Elected by the shareholders, the Perma-Fix Environmental's board of directors comprises two types of representatives: Perma-Fix Environmental inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Perma-Fix. The board's role is to monitor Perma-Fix Environmental's management team and ensure that shareholders' interests are well served. Perma-Fix Environmental's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Perma-Fix Environmental's outside directors are responsible for providing unbiased perspectives on the board's policies.
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