Perma Pipe Correlations

PPIH Stock

USD 14.68 0.18 1.24%

The current 90-days correlation between Perma Pipe Internati and Gibraltar Industries is 0.15 (i.e., Average diversification). The correlation of Perma Pipe 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.

Perma Pipe Correlation With Market

Average diversification

The correlation between Perma Pipe International Holdi and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Perma Pipe International Holdi and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Perma Pipe International Holdings. 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.

Moving together with Perma Stock

0.74	AWI	Armstrong World Indu	Pair Corr
0.7	JCI	Johnson Controls Int	Pair Corr
0.77	LII	Lennox International	Pair Corr
0.67	LMB	Limbach Holdings	Pair Corr
0.73	LPX	Louisiana Pacific	Pair Corr
0.69	AAON	AAON Inc	Pair Corr
0.61	AIRJ	Montana Technologies Symbol Change	Pair Corr
0.88	AZEK	Azek Company	Pair Corr
0.79	TREX	Trex Company	Pair Corr
0.73	G	Genpact Limited	Pair Corr
0.78	R	Ryder System	Pair Corr
0.83	AL	Air Lease	Pair Corr
0.64	AZ	A2Z Smart Technologies	Pair Corr

Moving against Perma Stock

0.71	APT	Alpha Pro Tech	Pair Corr
0.63	ASPN	Aspen Aerogels	Pair Corr
0.57	AEHL	Antelope Enterprise	Pair Corr
0.51	JELD	Jeld Wen Holding	Pair Corr
0.47	JBI	Janus International Buyout Trend	Pair Corr
0.47	WMS	Advanced Drainage Systems	Pair Corr
0.39	FBIN	Fortune Brands Innov	Pair Corr
0.35	ILAG	Intelligent Living	Pair Corr
0.52	GP	GreenPower Motor	Pair Corr
0.51	GD	General Dynamics Earnings Call This Week	Pair Corr
0.51	HY	Hyster Yale Materials	Pair Corr
0.5	CP	Canadian Pacific Railway	Pair Corr
0.49	BW	Babcock Wilcox Enter	Pair Corr
0.46	EH	Ehang Holdings	Pair Corr
0.33	GE	GE Aerospace Earnings Call This Week	Pair Corr

Related Correlations Analysis

	ROCK	NX	JELD	TILE	APOG	AZEK	BECN	JBI	AWI
ROCK		0.91	0.41	0.23	0.85	0.26	0.24	0.04	0.67	ROCK
NX	0.91		0.66	-0.08	0.85	-0.02	-0.07	0.31	0.39	NX
JELD	0.41	0.66		-0.71	0.38	-0.47	-0.54	0.76	-0.31	JELD
TILE	0.23	-0.08	-0.71		0.21	0.81	0.79	-0.7	0.81	TILE
APOG	0.85	0.85	0.38	0.21		0.24	0.05	0.13	0.51	APOG
AZEK	0.26	-0.02	-0.47	0.81	0.24		0.83	-0.46	0.79	AZEK
BECN	0.24	-0.07	-0.54	0.79	0.05	0.83		-0.55	0.83	BECN
JBI	0.04	0.31	0.76	-0.7	0.13	-0.46	-0.55		-0.5	JBI
AWI	0.67	0.39	-0.31	0.81	0.51	0.79	0.83	-0.5		AWI
	ROCK	NX	JELD	TILE	APOG	AZEK	BECN	JBI	AWI

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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

NX	+ 0.91	ROCK
APOG	+ 0.85	ROCK
APOG	+ 0.85	NX
BECN	+ 0.83	AZEK
AWI	+ 0.83	BECN
AZEK	+ 0.81	TILE

High negative correlations

TILE	- 0.71	JELD
JBI	- 0.7	TILE
JBI	- 0.55	BECN
BECN	- 0.54	JELD
AWI	- 0.5	JBI
AZEK	- 0.47	JELD

Risk-Adjusted Indicators

There is a big difference between Perma Stock performing well and Perma Pipe 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 Perma Pipe'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
ROCK	1.40	(0.11)	0.00	(0.16)	0.00	0.00	3.40	(2.19)	10.27
NX	1.89	(0.24)	0.00	(0.36)	0.00	0.00	4.11	(4.79)	12.44
JELD	2.71	(0.61)	0.00	0.39	0.00	0.00	5.54	(5.43)	32.38
TILE	2.01	0.43	0.23	1.33	1.59	(2.52)	3.44	(3.68)	38.17
APOG	1.68	(0.50)	0.00	(0.44)	0.00	0.00	3.11	(3.47)	24.74
AZEK	1.56	0.19	0.09	0.23	1.88	(1.65)	3.79	(2.33)	11.76
BECN	1.58	0.35	0.24	0.54	1.13	(1.93)	3.32	(2.18)	13.60
JBI	2.25	(0.41)	0.00	(0.60)	0.00	0.00	3.06	(4.22)	32.77
AWI	1.01	0.13	0.10	0.20	1.12	(1.04)	1.97	(1.29)	8.34

Perma Pipe Corporate Management

Jill Curry	VP HR	Profile
John Love	Gen Products	Profile
Chuck Heaton	Vice Resources	Profile
Marc Huber	Senior Americas	Profile
Saleh Sagr	Senior Africa	Profile

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