Clean Harbors Correlations

CLH Stock

USD 281.34 5.09 1.84%

The current 90-days correlation between Clean Harbors and Acuity Brands is 0.16 (i.e., Average 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

Almost no diversification

The correlation between Clean Harbors and DJI is 0.91 (i.e., Almost no 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 board of governors.

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

0.76	0QWA	Logista	Pair Corr
0.88	0J4G	Helmerich Payne	Pair Corr
0.68	0NV5	UPM Kymmene Oyj	Pair Corr
0.92	BV	BrightView Holdings	Pair Corr
0.88	0MPL	SGL Carbon SE	Pair Corr
0.81	0QME	Orell Fuessli AG	Pair Corr
0.84	WM	Waste Management	Pair Corr
0.66	0HAH	Fortum Oyj	Pair Corr
0.84	0LJB	Uniti Group	Pair Corr
0.72	CUV	Realord Group Holdings	Pair Corr
0.77	0JVV	Lumentum Holdings	Pair Corr
0.82	0I3Z	Deutsche Euroshop	Pair Corr
0.64	0HRZ	Cabot Oil Gas Earnings Call This Week	Pair Corr
0.71	0JXF	Protector Forsikring ASA	Pair Corr
0.95	0Q7L	AMAG Austria Metall Earnings Call This Week	Pair Corr
0.78	0GWB	Lundbergforetagen AB	Pair Corr
0.81	0RJI	Anheuser Busch Inbev	Pair Corr
0.87	0LHR	Tyson Foods Cl	Pair Corr
0.77	0QVK	COFACE	Pair Corr
0.74	0I0J	Clorox	Pair Corr
0.78	0QNT	Implenia AG	Pair Corr
0.95	0L9E	Stanley Black Decker	Pair Corr
0.88	0R3E	Lockheed Martin Corp	Pair Corr

Moving against Clean Stock

0.89	0G9R	PowerCell Sweden	Pair Corr
0.79	VCIG	VCI Global Limited	Pair Corr
0.69	0A9G	Mereo BioPharma Group	Pair Corr
0.59	LZ	LegalZoom	Pair Corr
0.41	0K7V	News Corp Cl	Pair Corr
0.38	0FQ8	Pharol SGPS SA Earnings Call This Week	Pair Corr
0.34	0NUT	Nextensa NV	Pair Corr
0.79	0JCT	Intuit Inc Earnings Call This Week	Pair Corr
0.76	0RFX	Bell Food Group	Pair Corr
0.69	0QUU	Afry AB	Pair Corr
0.65	36E	GFL ENVIRONM	Pair Corr
0.53	DXST	Decent Holding Ordinary	Pair Corr
0.37	0MG1	Fielmann AG Earnings Call This Week	Pair Corr
0.34	0GZV	Getinge AB ser	Pair Corr
0.32	VLTO	Veralto	Pair Corr

Related Correlations Analysis

	AYI	CR	WMS	ERJ	PAC	BLD	ARMK	SWK	OC	BAH
AYI		-0.52	-0.6	-0.2	-0.57	-0.75	-0.65	-0.63	-0.65	-0.18	AYI
CR	-0.52		0.6	0.42	0.62	0.66	0.7	0.78	0.7	0.56	CR
WMS	-0.6	0.6		0.39	0.69	0.94	0.78	0.88	0.92	-0.01	WMS
ERJ	-0.2	0.42	0.39		0.75	0.39	0.46	0.63	0.59	0.22	ERJ
PAC	-0.57	0.62	0.69	0.75		0.71	0.71	0.89	0.85	0.23	PAC
BLD	-0.75	0.66	0.94	0.39	0.71		0.82	0.9	0.93	0.08	BLD
ARMK	-0.65	0.7	0.78	0.46	0.71	0.82		0.82	0.81	0.18	ARMK
SWK	-0.63	0.78	0.88	0.63	0.89	0.9	0.82		0.97	0.28	SWK
OC	-0.65	0.7	0.92	0.59	0.85	0.93	0.81	0.97		0.19	OC
BAH	-0.18	0.56	-0.01	0.22	0.23	0.08	0.18	0.28	0.19		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

OC	+ 0.97	SWK
BLD	+ 0.94	WMS
OC	+ 0.93	BLD
OC	+ 0.92	WMS
SWK	+ 0.9	BLD
SWK	+ 0.89	PAC

High negative correlations

BLD	- 0.75	AYI
OC	- 0.65	AYI
ARMK	- 0.65	AYI
SWK	- 0.63	AYI
WMS	- 0.6	AYI
PAC	- 0.57	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	1.46	(0.23)	0.00	(0.16)	0.00	0.00	2.66	(2.86)	16.54
CR	1.34	0.08	0.04	0.11	2.29	(1.43)	2.71	(2.00)	15.15
WMS	1.38	0.16	0.12	0.19	1.24	(1.55)	3.31	(2.46)	9.24
ERJ	1.64	0.14	0.04	0.95	2.08	(1.65)	4.08	(3.91)	9.21
PAC	1.40	0.41	0.22	0.69	1.27	(1.53)	3.02	(2.27)	10.54
BLD	1.89	0.24	0.15	0.19	1.59	(2.42)	4.78	(2.51)	10.98
ARMK	1.12	0.04	0.02	0.09	1.71	(1.29)	2.29	(2.48)	12.74
SWK	1.58	0.36	0.26	0.24	1.24	(1.92)	4.60	(2.56)	10.50
OC	1.49	0.31	0.23	0.23	1.09	(1.80)	4.56	(2.33)	9.87
BAH	2.06	(0.10)	0.00	(0.01)	0.00	0.00	5.23	(5.15)	18.05

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