Covanta Competitors
Covanta Holding competes with Monster Beverage, Seadrill, AKITA Drilling, and Brandywine Realty; as well as few others. The company runs under Industrials sector within Waste Management industry. Analyzing Covanta Holding competition allows you to expand the diversification possibilities of your existing portfolios and to get a better perspective on locking in new positions. Investors sometimes prefer comparable analysis of Covanta Holding to its intrinsic valuation because they are able to contrast its competitors on a relative basis. Check out Trending Equities to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in real.
You can use the Comparative Equity Analysis module to analyze the advantages of investing in your portfolio's related equities across multiple sectors and thematic ideas. Please use the input box below to enter symbols for particular investments you would like to analyze. With the equity comparison module, you can estimate the relative effect of Covanta Holding competition on your existing holdings.
Covanta |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Covanta Holding's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Covanta Holding Competition Correlation Matrix
Typically, diversification allows investors to combine positions across different asset classes to reduce overall portfolio risk. Correlation between Covanta Holding and its competitors represents the degree of relationship between the price movements of corresponding delisted stocks. A correlation of about +1.0 implies that the price of Covanta and its corresponding peer move in tandem. A correlation of -1.0 means that prices move in opposite directions. A correlation of close to zero suggests that the price movements of assets are uncorrelated; in other words, the historical price movement of Covanta Holding does not affect the price movement of the other competitor.
| -0.27 | 0.0 | 0.58 | 0.38 | 0.0 | MNST | ||
| -0.27 | 0.0 | -0.06 | -0.46 | 0.0 | SDRL | ||
| 0.0 | 0.0 | 0.0 | 0.0 | -1.0 | IRIG | ||
| 0.58 | -0.06 | 0.0 | 0.52 | 0.0 | AKTAF | ||
| 0.38 | -0.46 | 0.0 | 0.52 | 0.0 | BDN | ||
| 0.0 | 0.0 | -1.0 | 0.0 | 0.0 | CBEEF | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
High positive correlations
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between Covanta Stock performing well and Covanta Holding 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 Covanta Holding'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| MNST | 1.08 | 0.18 | 0.06 | 0.54 | 1.45 | 2.51 | 11.37 | |||
| SDRL | 1.93 | (0.23) | 0.00 | (0.11) | 0.00 | 3.83 | 13.44 | |||
| IRIG | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| AKTAF | 1.83 | 0.06 | 0.00 | 0.23 | 2.23 | 4.42 | 14.88 | |||
| BDN | 1.66 | 0.01 | 0.02 | 0.12 | 2.85 | 3.78 | 18.66 | |||
| CBEEF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Covanta Holding Competitive Analysis
The better you understand Covanta Holding competitors, the better chance you have of utilizing it as a position in your portfolios. From an individual investor's perspective, Covanta Holding's competitive analysis can cover a whole range of metrics. Some of these will be more critical depending on who you are as an investor and how you react to market volatility. However, if you are locking your investment sandscape to a long-term horizon, comparing the fundamental indicator across Covanta Holding's competition over several years is one of the best ways to analyze its investment potential.| Better Than Average | Worse Than Peers | View Performance Chart |
Covanta Holding Competition Performance Charts
Five steps to successful analysis of Covanta Holding Competition
Covanta Holding's competitive analysis is the process of researching and evaluating its competitive landscape. It provides an understanding of the strengths, weaknesses, opportunities, and threats (SWOT) faced by Covanta Holding in relation to its competition. Covanta Holding's competition analysis typically involves several steps, including:- Identifying the key players in the market: This involves identifying the major competitors of Covanta Holding in the market, both direct and indirect, as well as new entrants and disruptive technologies.
- Assessing the strengths and weaknesses of each competitor: This involves evaluating each competitor's strengths and weaknesses in areas such as product offerings, market share, brand recognition, financial performance, and distribution channels.
- Understanding the competitive environment: This involves evaluating the regulatory environment, economic conditions, and other factors that may impact Covanta Holding's competitive landscape.
- Identifying opportunities and threats: This involves using the information gathered during the analysis to identify opportunities and threats to Covanta Holding, and developing a strategy to address them.
- Evaluating the competitive landscape: This involves understanding the competitive dynamics of the market, such as pricing, marketing, and distribution strategies, as well as analyzing the competitive advantage of each competitor.
Complement your Covanta Holding position
In addition to having Covanta Holding in your portfolios, you can quickly add positions using our predefined set of ideas and optimize them against your very unique investing style. A single investing idea is a collection of funds, stocks, ETFs, or cryptocurrencies that are programmatically selected from a pull of investment themes. After you determine your investment opportunity, you can then find an optimal portfolio that will maximize potential returns on the chosen idea or minimize its exposure to market volatility.Did You Try This Idea?
Run Communication Services Thematic Idea Now
Communication Services
Companies that provide networking, telecom, and long distance services. The Communication Services theme has 48 constituents at this time.
You can either use a buy-and-hold strategy to lock in the entire theme or actively trade it to take advantage of the short-term price volatility of individual constituents. Macroaxis can help you discover thousands of investment opportunities in different asset classes. In addition, you can partner with us for reliable portfolio optimization as you plan to utilize Communication Services Theme or any other thematic opportunities.
| View All Next | Launch |
Check out Trending Equities to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in real. You can also try the Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
Other Consideration for investing in Covanta Stock
If you are still planning to invest in Covanta Holding check if it may still be traded through OTC markets such as Pink Sheets or OTC Bulletin Board. You may also purchase it directly from the company, but this is not always possible and may require contacting the company directly. Please note that delisted stocks are often considered to be more risky investments, as they are no longer subject to the same regulatory and reporting requirements as listed stocks. Therefore, it is essential to carefully research the Covanta Holding's history and understand the potential risks before investing.
| Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals | |
| Commodity Directory Find actively traded commodities issued by global exchanges | |
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
| AI Portfolio Architect Use AI to generate optimal portfolios and find profitable investment opportunities |