Clean Harbors Correlations

CH6 Stock

EUR 194.15 2.20 1.12%

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

Good diversification

The correlation between Clean Harbors and DJI is -0.09 (i.e., Good 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.

The ability to find closely correlated positions to Clean Harbors could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Clean Harbors when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Clean Harbors - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Clean Harbors to buy it.

Moving together with Clean Stock

0.61	KB9	KBC Ancora SCA	Pair Corr
0.68	MUM	MENSCH UND MASCHINE Earnings Call Tomorrow	Pair Corr
0.71	VOL4	VOLVO B UNSPADR	Pair Corr
0.72	E908	Lyxor 1	Pair Corr
0.77	DBPE	Xtrackers LevDAX	Pair Corr

Moving against Clean Stock

0.79	DBPD	Xtrackers ShortDAX	Pair Corr
0.67	8VY	SCANDION ONC DK	Pair Corr
0.47	SVM	Sovereign Metals	Pair Corr

Related Correlations Analysis

	CWW	PNP	LIE	HKT	1IZ1	3YB	0VF	SYU1
CWW		0.61	0.79	0.55	0.78	0.67	0.46	0.6	CWW
PNP	0.61		0.5	0.78	0.89	0.86	0.82	0.99	PNP
LIE	0.79	0.5		0.52	0.75	0.33	0.44	0.47	LIE
HKT	0.55	0.78	0.52		0.81	0.7	0.64	0.73	HKT
1IZ1	0.78	0.89	0.75	0.81		0.79	0.74	0.87	1IZ1
3YB	0.67	0.86	0.33	0.7	0.79		0.68	0.86	3YB
0VF	0.46	0.82	0.44	0.64	0.74	0.68		0.83	0VF
SYU1	0.6	0.99	0.47	0.73	0.87	0.86	0.83		SYU1
	CWW	PNP	LIE	HKT	1IZ1	3YB	0VF	SYU1

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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
CWW	1.00	0.23	0.06	(1.04)	0.93	(1.18)	2.34	(1.55)	7.26
PNP	1.35	0.42	0.19	(1.72)	0.96	(1.88)	3.47	(1.87)	9.33
LIE	0.68	0.10	(0.01)	1.37	0.85	(1.06)	1.22	(0.94)	6.49
HKT	0.97	0.18	0.02	(1.66)	0.81	(1.79)	1.67	(1.61)	5.11
1IZ1	0.97	0.26	0.18	1.70	0.48	(1.26)	2.37	(1.45)	6.27
3YB	1.09	0.30	0.05	(5.57)	1.22	(2.10)	1.92	(1.75)	11.35
0VF	1.30	0.21	0.03	(3.92)	1.65	(1.48)	3.30	(2.68)	10.59
SYU1	1.62	0.51	0.21	(2.78)	1.17	(2.06)	4.15	(2.38)	10.14

Be your own money manager

Our tools can tell you how much better you can do entering a position in Clean Harbors without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Clean Harbors Corporate Management

Elected by the shareholders, the Clean Harbors' board of directors comprises two types of representatives: Clean Harbors inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Clean. The board's role is to monitor Clean Harbors' management team and ensure that shareholders' interests are well served. Clean Harbors' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Clean Harbors' outside directors are responsible for providing unbiased perspectives on the board's policies.

Sharon Gabriel	Ex Officer	Profile
Eric Gerstenberg	Chief Officer	Profile
Robert Speights	Pres Services	Profile
Eric Dugas	Sr Officer	Profile
Brian Weber	Exec Devel	Profile
Michael CPA	Ex CFO	Profile
Alan McKim	Chairman, Founder	Profile

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