Fuel Tech Correlations

FTEK Stock

USD 1.08 0.02 1.82%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Fuel Tech moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Fuel Tech moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Fuel Tech Correlation With Market

Significant diversification

The correlation between Fuel Tech and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fuel Tech and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Fuel Tech. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

For more information on how to buy Fuel Stock please use our How to buy in Fuel Stock guide.

Moving together with Fuel Stock

0.65	SQ	Block Inc Sell-off Trend	Pair Corr
0.71	AXR	AMREP	Pair Corr
0.66	FOUR	Shift4 Payments	Pair Corr

Moving against Fuel Stock

0.41	DLHC	DLH Holdings Corp Earnings Call This Week	Pair Corr
0.41	VCIG	VCI Global Limited Trending	Pair Corr
0.36	FC	Franklin Covey	Pair Corr
0.33	WHLM	Wilhelmina	Pair Corr
0.33	BCO	Brinks Company	Pair Corr
0.32	EXPO	Exponent	Pair Corr
0.57	MMS	Maximus	Pair Corr
0.51	EFX	Equifax	Pair Corr
0.39	MEG	Montrose Environmental	Pair Corr
0.37	SMX	SMX Public Limited	Pair Corr
0.35	FCN	FTI Consulting	Pair Corr
0.33	HDSN	Hudson Technologies	Pair Corr

Related Correlations Analysis

	FSS	CECO	ZWS	MKUL	GRNWF	CLWT	CHNR	SSHPF	ERII
FSS		0.7	0.53	0.0	0.32	-0.11	0.05	-0.3	-0.07	FSS
CECO	0.7		0.2	0.0	0.43	-0.05	-0.09	-0.21	-0.5	CECO
ZWS	0.53	0.2		0.0	0.29	-0.55	0.21	-0.5	0.46	ZWS
MKUL	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	MKUL
GRNWF	0.32	0.43	0.29	0.0		-0.49	-0.39	0.05	-0.46	GRNWF
CLWT	-0.11	-0.05	-0.55	0.0	-0.49		0.32	-0.12	-0.04	CLWT
CHNR	0.05	-0.09	0.21	0.0	-0.39	0.32		-0.4	0.44	CHNR
SSHPF	-0.3	-0.21	-0.5	0.0	0.05	-0.12	-0.4		-0.48	SSHPF
ERII	-0.07	-0.5	0.46	0.0	-0.46	-0.04	0.44	-0.48		ERII
	FSS	CECO	ZWS	MKUL	GRNWF	CLWT	CHNR	SSHPF	ERII

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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

CECO	+ 0.7	FSS
ZWS	+ 0.53	FSS
ERII	+ 0.46	ZWS
ERII	+ 0.44	CHNR
GRNWF	+ 0.43	CECO
GRNWF	+ 0.32	FSS

High negative correlations

CLWT	- 0.55	ZWS
SSHPF	- 0.5	ZWS
ERII	- 0.5	CECO
CLWT	- 0.49	GRNWF
ERII	- 0.48	SSHPF
ERII	- 0.46	GRNWF

Risk-Adjusted Indicators

There is a big difference between Fuel Stock performing well and Fuel Tech 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 Fuel Tech'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
FSS	1.34	0.07	(0.02)	(2.05)	2.37	(1.18)	2.61	(3.28)	8.72
CECO	2.50	(0.02)	0.04	0.11	3.22	(2.82)	4.73	(3.36)	18.98
ZWS	1.25	0.17	0.16	0.24	1.06	(1.43)	2.83	(1.93)	9.65
MKUL	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GRNWF	5.41	0.94	0.05	(0.19)	5.99	(12.48)	16.28	(13.73)	63.39
CLWT	1.72	(0.05)	0.00	0.36	0.00	0.00	3.36	(4.22)	11.83
CHNR	5.50	0.63	0.06	(0.39)	5.48	(9.16)	12.50	(9.88)	62.98
SSHPF	3.38	(0.98)	0.00	0.76	0.00	0.00	0.00	(8.00)	59.02
ERII	2.01	(0.18)	0.00	(0.04)	0.00	0.00	4.14	(2.80)	27.67

Fuel Tech Corporate Management

Bradley Johnson	General VP	Profile
Ellen Albrecht	CFO VP	Profile
William Sun	Vice Technologies	Profile
William Cummings	Senior Sales	Profile
Vincent Albanese	VP Affairs	Profile
Kevin Dougherty	Vice Marketing	Profile
Ronald PE	Ex Consultant	Profile

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