CECO Environmental Correlations

CECO Stock

USD 33.84 1.73 5.39%

The current 90-days correlation between CECO Environmental Corp and Energy Recovery is 0.28 (i.e., Modest 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

Very weak diversification

The correlation between CECO Environmental Corp and DJI is 0.45 (i.e., Very 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.

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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

0.85	ARQ	Arq Inc	Pair Corr
0.93	FSS	Federal Signal	Pair Corr
0.87	PCT	Purecycle Technologies	Pair Corr
0.84	ZWS	Zurn Elkay Water Earnings Call This Week	Pair Corr
0.86	ADUR	Aduro Clean Technologies	Pair Corr
0.75	ATMU	Atmus Filtration Tec	Pair Corr
0.84	PCTTW	PureCycle Technologies	Pair Corr
0.82	PCTTU	Purecycle Technologies	Pair Corr
0.9	J	Jacobs Solutions	Pair Corr
0.84	R	Ryder System Earnings Call Tomorrow	Pair Corr
0.88	AL	Air Lease	Pair Corr
0.79	AP	Ampco Pittsburgh Downward Rally	Pair Corr
0.87	AZ	A2Z Smart Technologies	Pair Corr
0.89	BA	Boeing Earnings Call This Week	Pair Corr
0.78	BE	Bloom Energy Corp Earnings Call This Week	Pair Corr
0.69	BV	BrightView Holdings	Pair Corr
0.78	BW	Babcock Wilcox Enter	Pair Corr
0.69	CP	Canadian Pacific Railway Earnings Call This Week	Pair Corr
0.93	CR	Crane Company Earnings Call This Week	Pair Corr
0.9	CW	Curtiss Wright	Pair Corr
0.8	DE	Deere Company	Pair Corr
0.9	DY	Dycom Industries	Pair Corr
0.71	FA	First Advantage Corp	Pair Corr
0.75	GD	General Dynamics	Pair Corr
0.9	GE	GE Aerospace	Pair Corr

Moving against CECO Stock

0.53	ERII	Energy Recovery Earnings Call This Week	Pair Corr
0.44	G	Genpact Limited	Pair Corr
0.42	CHNR	China Natural Resources	Pair Corr
0.69	NL	NL Industries	Pair Corr
0.6	MG	Mistras Group Earnings Call This Week	Pair Corr
0.43	GP	GreenPower Motor	Pair Corr

Related Correlations Analysis

	ERII	FSS	ZWS	SCWO	COCO	ESI	STRA	DV	LINC
ERII		-0.59	-0.58	-0.39	-0.34	-0.37	-0.54	-0.44	-0.81	ERII
FSS	-0.59		0.83	-0.15	0.82	0.9	-0.01	0.89	0.87	FSS
ZWS	-0.58	0.83		-0.04	0.72	0.84	0.28	0.81	0.8	ZWS
SCWO	-0.39	-0.15	-0.04		-0.29	-0.39	0.68	-0.23	0.22	SCWO
COCO	-0.34	0.82	0.72	-0.29		0.85	-0.02	0.68	0.7	COCO
ESI	-0.37	0.9	0.84	-0.39	0.85		-0.16	0.86	0.7	ESI
STRA	-0.54	-0.01	0.28	0.68	-0.02	-0.16		-0.11	0.35	STRA
DV	-0.44	0.89	0.81	-0.23	0.68	0.86	-0.11		0.71	DV
LINC	-0.81	0.87	0.8	0.22	0.7	0.7	0.35	0.71		LINC
	ERII	FSS	ZWS	SCWO	COCO	ESI	STRA	DV	LINC

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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

ESI	+ 0.9	FSS
DV	+ 0.89	FSS
LINC	+ 0.87	FSS
DV	+ 0.86	ESI
ESI	+ 0.85	COCO
ESI	+ 0.84	ZWS

High negative correlations

LINC	- 0.81	ERII
FSS	- 0.59	ERII
ZWS	- 0.58	ERII
STRA	- 0.54	ERII
DV	- 0.44	ERII
ESI	- 0.39	SCWO

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
ERII	1.76	(0.34)	0.00	(0.05)	0.00	0.00	2.85	(2.42)	21.40
FSS	1.25	0.59	0.28	(8.33)	0.84	(1.56)	3.44	(2.00)	10.24
ZWS	1.26	0.03	0.11	0.22	0.91	(1.47)	3.91	(1.81)	8.67
SCWO	7.62	0.13	0.02	0.30	8.96	(9.16)	17.86	(17.07)	65.27
COCO	1.58	0.20	0.05	0.68	1.59	(1.78)	3.21	(2.27)	9.61
ESI	1.61	0.55	0.13	(0.84)	1.45	(1.90)	3.98	(2.86)	11.49
STRA	1.10	(0.16)	0.00	(0.04)	0.00	0.00	2.23	(2.95)	8.53
DV	1.61	0.10	0.06	0.28	1.92	(1.65)	3.78	(3.55)	11.90
LINC	1.77	0.21	0.10	0.41	1.75	(1.98)	3.98	(3.19)	12.34

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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