Energy Recovery Correlations

ERII Stock

USD 14.76 0.12 0.81%

The current 90-days correlation between Energy Recovery and CECO Environmental Corp is -0.09 (i.e., Good 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

Good diversification

The correlation between Energy Recovery and DJI is -0.05 (i.e., Good 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.

Build AI portfolio with Energy Stock

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 against Energy Stock

0.53	LIQT	LiqTech International	Pair Corr
0.41	FSS	Federal Signal Earnings Call This Week	Pair Corr
0.34	ARQ	Arq Inc	Pair Corr
0.57	BV	BrightView Holdings Earnings Call This Week	Pair Corr
0.48	CP	Canadian Pacific Railway Earnings Call This Week	Pair Corr
0.45	DIST	Distoken Acquisition	Pair Corr
0.42	R	Ryder System	Pair Corr
0.38	J	Jacobs Solutions	Pair Corr
0.58	FA	First Advantage Corp	Pair Corr
0.5	DY	Dycom Industries	Pair Corr
0.37	HI	Hillenbrand Earnings Call This Week	Pair Corr
0.35	CW	Curtiss Wright Earnings Call This Week	Pair Corr
0.31	OP	Oceanpal	Pair Corr

Related Correlations Analysis

	ZWS	CECO	SCWO	MKUL	FSS	COSLF	LIQT	CLIR
ZWS		0.84	0.81	0.0	0.87	0.0	0.62	0.89	ZWS
CECO	0.84		0.62	0.0	0.67	0.0	0.53	0.67	CECO
SCWO	0.81	0.62		0.0	0.69	0.0	0.56	0.92	SCWO
MKUL	0.0	0.0	0.0		0.0	0.0	0.0	0.0	MKUL
FSS	0.87	0.67	0.69	0.0		0.0	0.76	0.82	FSS
COSLF	0.0	0.0	0.0	0.0	0.0		0.0	0.0	COSLF
LIQT	0.62	0.53	0.56	0.0	0.76	0.0		0.63	LIQT
CLIR	0.89	0.67	0.92	0.0	0.82	0.0	0.63		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

CLIR	+ 0.92	SCWO
CLIR	+ 0.89	ZWS
FSS	+ 0.87	ZWS
CECO	+ 0.84	ZWS
CLIR	+ 0.82	FSS
SCWO	+ 0.81	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	1.55	(0.10)	(0.23)	2.66	(3.36)	11.11
CECO	2.33	(0.50)	(0.60)	3.99	(4.80)	15.75
SCWO	5.11	(1.06)	2.94	9.68	(10.71)	27.11
MKUL	0.00	0.00	0.00	0.00	0.00	0.00
FSS	1.82	(0.28)	(0.39)	2.72	(4.42)	13.83
COSLF	0.00	0.00	0.00	0.00	0.00	0.00
LIQT	3.46	(0.09)	(0.42)	6.90	(8.07)	26.82
CLIR	4.05	(0.87)	(0.60)	6.33	(9.00)	28.33

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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