Comfort Systems Total Risk Alpha
| FIX Stock | | | USD 1,952 10.35 0.53% |
Total Risk Alpha measures the excess return of an asset after comparing its performance to a benchmark portfolio matched to the same total risk level. Unlike Jensen Alpha, which adjusts for systematic risk (beta) only, Total Risk Alpha accounts for total volatility. Below is Comfort Systems's current Total Risk Alpha with peer comparisons and related risk metrics.
Current Total Risk Alpha Value
At 0.9823, Comfort Systems exhibits positive alpha — return above what market exposure alone would predict in Total Risk Alpha. Comfort Systems has generated modest excess return beyond what its systematic risk exposure explains.
Total Risk Alpha | = | RFR + (ER[b] - ER[a]) | x | STD[a] / STD[b] |
| = | 0.9823 | |
| ER[a] | = | Expected return on investing in Comfort Systems |
| ER[b] | = | Expected return on market index or selected benchmark |
| STD[a] | = | Standard Deviation of returns on Comfort Systems |
| STD[b] | = | Standard Deviation of selected market or benchmark |
| RFR | = | Risk Free Rate of return. Typically T-Bill Rate |
Total Risk Alpha Peers Comparison
Comfort Systems's Total Risk Alpha of 0.9823 falls above the 0.4 peer average. Values range from -0.087 (Topbuild Corp) to 1.0 (MYR Group), with wide dispersion across the group. Comfort Systems has generated more excess return relative to its market exposure than the peer group average.
Total Risk Alpha Relative To Other Indicators
The chart below plots Total Risk Alpha against Maximum Drawdown for Comfort Systems and its peers. Each point represents one equity — position along the horizontal axis shows Total Risk Alpha while the vertical axis shows Maximum Drawdown. Equities that cluster in different quadrants carry distinct risk-return profiles. Use the dropdowns to swap in other indicators for either axis.
Comfort Systems's Maximum Drawdown of
14.91 runs about
15.18 times its Total Risk Alpha of
0.98 . This indicates Maximum Drawdown substantially exceeds Total Risk Alpha for Comfort Systems.
Methodology, Assumptions & Data Sources
Comfort Systems has a current Total Risk Alpha reading of 0.9823. The Total Risk Alpha for Comfort Systems is produced by transforming raw price history into a standardized measure according to the indicator's defined methodology. Data sources include daily closing prices from supported exchanges, with standard corporate action adjustments applied. Comfort Systems operates in the industrials sector, which may exhibit distinct volatility and momentum characteristics relative to the broader market. Results are based on historical returns and do not predict future performance. This indicator is provided for informational purposes.
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