Clean Harbors Correlations

CLH Stock

USD 258.16 0.49 0.19%

The current 90-days correlation between Clean Harbors and Acuity Brands is 0.09 (i.e., Significant diversification). The correlation of Clean Harbors 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.

Clean Harbors Correlation With Market

Very poor diversification

The correlation between Clean Harbors and DJI is 0.82 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Clean Harbors and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Clean Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Clean Harbors. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

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

Moving together with Clean Stock

0.81	0Q7L	AMAG Austria Metall	Pair Corr
0.72	0LHR	Tyson Foods Cl Earnings Call This Week	Pair Corr
0.72	0I6U	DXC Technology	Pair Corr
0.82	0IL1	Federal Realty Investment	Pair Corr
0.85	0J71	JB Hunt Transport	Pair Corr
0.84	0J5Z	Hormel Foods Corp	Pair Corr
0.71	0IFX	Electronic Arts Earnings Call This Week	Pair Corr
0.73	0QZ4	Delta Air Lines	Pair Corr
0.71	ABM	ABM Industries	Pair Corr
0.82	0L8B	Southern Copper Corp	Pair Corr
0.83	0HDK	Systemair AB	Pair Corr
0.65	0N9K	Elmos Semiconductor	Pair Corr
0.78	0L8F	Southwest Airlines	Pair Corr
0.92	0LVK	Westlake Chemical Corp	Pair Corr
0.79	0IW3	Global Net Lease	Pair Corr
0.83	0JW2	MT Bank Corp	Pair Corr

Moving against Clean Stock

0.62	000826	Tus Sound Environmental	Pair Corr
0.4	0RFX	Bell Food Group	Pair Corr
0.56	TMIP	Taylor Maritime Inve	Pair Corr
0.46	AEI	Aeris Environmental	Pair Corr
0.84	300237	Shandong Meichen Science	Pair Corr
0.73	0JUJ	Liberty Media Corp	Pair Corr
0.6	0KXM	Roper Technologies	Pair Corr

Related Correlations Analysis

	AYI	CR	WMS	ERJ	PAC	BLD	ARMK	SWK	OC	BAH
AYI		-0.5	-0.5	-0.36	-0.45	-0.7	-0.47	-0.52	-0.32	-0.56	AYI
CR	-0.5		0.51	0.04	0.44	0.67	0.68	0.75	0.64	0.79	CR
WMS	-0.5	0.51		0.61	0.68	0.79	0.33	0.77	0.13	0.53	WMS
ERJ	-0.36	0.04	0.61		0.55	0.41	-0.04	0.43	-0.2	0.21	ERJ
PAC	-0.45	0.44	0.68	0.55		0.56	0.29	0.86	0.33	0.54	PAC
BLD	-0.7	0.67	0.79	0.41	0.56		0.65	0.79	0.56	0.71	BLD
ARMK	-0.47	0.68	0.33	-0.04	0.29	0.65		0.56	0.66	0.64	ARMK
SWK	-0.52	0.75	0.77	0.43	0.86	0.79	0.56		0.58	0.75	SWK
OC	-0.32	0.64	0.13	-0.2	0.33	0.56	0.66	0.58		0.63	OC
BAH	-0.56	0.79	0.53	0.21	0.54	0.71	0.64	0.75	0.63		BAH
	AYI	CR	WMS	ERJ	PAC	BLD	ARMK	SWK	OC	BAH

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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

SWK	+ 0.86	PAC
BAH	+ 0.79	CR
BLD	+ 0.79	WMS
SWK	+ 0.79	BLD
SWK	+ 0.77	WMS
SWK	+ 0.75	CR

High negative correlations

BLD	- 0.7	AYI
BAH	- 0.56	AYI
SWK	- 0.52	AYI
WMS	- 0.5	AYI
CR	- 0.5	AYI
ARMK	- 0.47	AYI

Risk-Adjusted Indicators

There is a big difference between Clean Stock performing well and Clean Harbors 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 Clean Harbors' 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
AYI	1.35	(0.27)	0.00	(0.29)	0.00	0.00	2.47	(2.93)	16.54
CR	1.29	(0.17)	0.00	(0.06)	0.00	0.00	2.28	(2.32)	15.15
WMS	1.32	0.06	0.04	0.11	1.23	(1.51)	3.31	(2.33)	11.59
ERJ	1.64	0.16	0.04	(0.84)	2.08	(1.65)	4.08	(3.91)	9.21
PAC	1.29	0.36	0.24	0.82	1.02	(1.51)	2.70	(2.00)	9.22
BLD	1.77	0.02	0.03	0.06	1.85	(1.99)	4.50	(3.27)	10.98
ARMK	0.93	(0.10)	0.00	(0.06)	0.00	0.00	1.78	(2.33)	6.45
SWK	1.60	0.10	0.09	0.10	1.59	(1.86)	4.60	(2.67)	10.50
OC	1.50	(0.10)	0.00	(0.13)	0.00	0.00	4.03	(2.95)	11.49
BAH	1.92	(0.13)	0.00	(0.20)	0.00	0.00	5.24	(5.33)	14.88

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