Gfl Environmental Correlations

GFL Stock

USD 47.10 0.84 1.82%

The current 90-days correlation between Gfl Environmental and Clean Harbors is 0.32 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Gfl Environmental moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Gfl Environmental Holdings moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Gfl Environmental Correlation With Market

Weak diversification

The correlation between Gfl Environmental Holdings and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gfl Environmental Holdings and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Gfl Environmental 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 census.

Moving together with Gfl Stock

0.84	LZ	LegalZoom	Pair Corr
0.79	VIRC	Virco Manufacturing Earnings Call This Week	Pair Corr
0.9	VRSK	Verisk Analytics	Pair Corr
0.83	ABM	ABM Industries Fiscal Year End 11th of December 2024	Pair Corr
0.73	HNI	HNI Corp	Pair Corr
0.85	HURN	Huron Consulting	Pair Corr
0.9	INOD	Innodata Buyout Trend	Pair Corr
0.81	CASS	Cass Information Systems Fiscal Year End 23rd of January 2025	Pair Corr
0.63	CRAI	CRA International	Pair Corr
0.84	CTAS	Cintas	Pair Corr
0.84	R	Ryder System	Pair Corr
0.86	DIST	Distoken Acquisition	Pair Corr
0.86	AL	Air Lease	Pair Corr
0.81	AZ	A2Z Smart Technologies	Pair Corr
0.83	BE	Bloom Energy Corp	Pair Corr
0.61	BV	BrightView Holdings	Pair Corr

Moving against Gfl Stock

0.81	CVEO	Civeo Corp	Pair Corr
0.73	EFX	Equifax	Pair Corr
0.72	FC	Franklin Covey	Pair Corr
0.71	MMS	Maximus	Pair Corr
0.71	PFMT	Performant Financial	Pair Corr
0.69	ICFI	ICF International	Pair Corr
0.65	FCN	FTI Consulting	Pair Corr
0.61	EXPO	Exponent	Pair Corr
0.43	RELX	Relx PLC ADR	Pair Corr
0.38	WHLM	Wilhelmina	Pair Corr
0.32	RGP	Resources Connection	Pair Corr
0.79	CP	Canadian Pacific Railway	Pair Corr
0.67	MG	Mistras Group	Pair Corr
0.61	HY	Hyster Yale Materials	Pair Corr
0.54	OP	Oceanpal	Pair Corr
0.48	GD	General Dynamics Fiscal Year End 22nd of January 2025	Pair Corr
0.37	FA	First Advantage Corp	Pair Corr
0.35	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr

Related Correlations Analysis

	SRCL	HCCI	CLH	HSC	WCN	RSG	CWST	WM	MEG
SRCL		0.86	0.25	0.48	0.6	0.7	0.59	0.68	-0.77	SRCL
HCCI	0.86		0.4	0.68	0.69	0.81	0.73	0.84	-0.62	HCCI
CLH	0.25	0.4		0.43	0.28	0.51	0.33	0.56	-0.43	CLH
HSC	0.48	0.68	0.43		0.17	0.37	0.35	0.69	-0.4	HSC
WCN	0.6	0.69	0.28	0.17		0.92	0.92	0.64	-0.34	WCN
RSG	0.7	0.81	0.51	0.37	0.92		0.89	0.84	-0.55	RSG
CWST	0.59	0.73	0.33	0.35	0.92	0.89		0.67	-0.3	CWST
WM	0.68	0.84	0.56	0.69	0.64	0.84	0.67		-0.68	WM
MEG	-0.77	-0.62	-0.43	-0.4	-0.34	-0.55	-0.3	-0.68		MEG
	SRCL	HCCI	CLH	HSC	WCN	RSG	CWST	WM	MEG

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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

RSG	+ 0.92	WCN
CWST	+ 0.92	WCN
CWST	+ 0.89	RSG
HCCI	+ 0.86	SRCL
WM	+ 0.84	HCCI
WM	+ 0.84	RSG

High negative correlations

MEG	- 0.77	SRCL
MEG	- 0.68	WM
MEG	- 0.62	HCCI
MEG	- 0.55	RSG
MEG	- 0.43	CLH
MEG	- 0.4	HSC

Risk-Adjusted Indicators

There is a big difference between Gfl Stock performing well and Gfl Environmental 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 Gfl Environmental'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
SRCL	1.09	0.55	0.53	(0.86)	0.00	(1.24)	2.30	(0.67)	30.56
HCCI	1.59	0.43	0.17	1.44	1.51	(1.77)	5.13	(3.24)	11.13
CLH	1.26	(0.08)	0.00	0.08	2.40	(1.16)	2.57	(1.99)	13.89
HSC	2.57	0.44	0.13	1.56	2.48	(2.95)	6.26	(3.78)	24.00
WCN	0.70	0.00	(0.08)	0.14	0.87	(0.74)	1.55	(1.55)	4.00
RSG	0.78	0.00	(0.04)	0.13	1.03	(0.72)	1.69	(1.76)	4.87
CWST	1.14	(0.07)	(0.02)	0.07	1.61	(1.14)	2.09	(2.60)	7.60
WM	0.78	0.07	0.01	0.25	0.84	(0.83)	1.67	(1.75)	7.17
MEG	3.59	(0.77)	0.00	(1.34)	0.00	0.00	7.60	(7.73)	27.87

Gfl Environmental Corporate Management

Mark Bouldin	Area Vice President Liquid Waste U.S	Profile
Dino Chiesa	Lead Independent Director	Profile
Blake Sumler	Independent Director	Profile
Arun Nayar	Independent Director	Profile

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