Evoqua Water Correlations

AQUA
 Stock
  

USD 43.06  0.16  0.37%   

The correlation of Evoqua Water is a statistical measure of how it moves in relation to other equities. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Evoqua Water moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Evoqua Water Technologies moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
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The ability to find closely correlated positions to Evoqua Water could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Evoqua Water 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 Evoqua Water - 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 Evoqua Water Technologies to buy it.

Moving together with Evoqua Water

+0.75CECOCECO Environmental Corp Symbol ChangePairCorr
+0.81FSSFederal SignalPairCorr
+0.69AALAmerican Airlines Downward RallyPairCorr
+0.94AAONAAON IncPairCorr
+0.94ABBABBPairCorr
+0.93ACMAecom TechnologyPairCorr
+0.83ADTADT IncPairCorr
+0.86AERAerCap Holdings NVPairCorr
+0.86AGCOAGCOPairCorr
+0.95AGXArgan IncPairCorr

Moving against Evoqua Water

-0.63CHNRChina Natural ResourcesPairCorr
-0.55APAmpco-PittsburghPairCorr

Related Correlations

VSGAX
MRK
FENY
XTWO
VSGAX
0.170.310.81
VSGAX
MRK
0.170.840.04
MRK
FENY
0.310.84-0.02
FENY
XTWO
0.810.04-0.02
XTWO
VSGAX
MRK
FENY
XTWO
Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Correlation Matchups

The Correlation Coefficient is a useful tool to identify correlated or non-correlated securities, which is essential in developing a diversified portfolio. It tells us the relationship between two positions you have in your portfolio or considering acquiring. Over a given time period, the two securities movetogether 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   
FENYMRK
XTWOVSGAX
FENYVSGAX
MRKVSGAX
XTWOMRK
  
High negative correlations   
XTWOFENY

Risk-Adjusted Indicators

Nowadays, there is a big difference between Evoqua Stock performing well and Evoqua Water company doing well compared to the competition. There are way too many exceptions to the normal that investors can tell for sure what's good or bad unless they analyze Evoqua Water's multiple risk-adjusted performance indicators. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Evoqua Water 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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Evoqua Water Corporate Directors

Evoqua Water corporate directors refer to members of an Evoqua Water board of directors. The board of directors generally takes responsibility for the Evoqua Water's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Evoqua Water's board members must vote for the resolution. The Evoqua Water board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.
Lynn Swann - Independent DirectorProfile
Vinay Kumar - DirectorProfile
Nick Bhambri - Independent DirectorProfile
Peter Wilver - Independent DirectorProfile

Invested in Evoqua Water Technologies?

The danger of trading Evoqua Water Technologies is mainly related to its market volatility and company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Evoqua Water is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Evoqua Water. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Evoqua Water Technologies is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Please continue to Trending Equities. You can also try Technical Analysis module to check basic technical indicators and analysis based on most latest market data.

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When running Evoqua Water Technologies price analysis, check to measure Evoqua Water's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Evoqua Water is operating at the current time. Most of Evoqua Water's value examination focuses on studying past and present price action to predict the probability of Evoqua Water's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Evoqua Water's price. Additionally, you may evaluate how the addition of Evoqua Water to your portfolios can decrease your overall portfolio volatility.
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Is Evoqua Water's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Evoqua Water. If investors know Evoqua will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Evoqua Water listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth YOY
0.496
Market Capitalization
5.2 B
Quarterly Revenue Growth YOY
0.185
Return On Assets
0.0361
Return On Equity
0.112
The market value of Evoqua Water Technologies is measured differently than its book value, which is the value of Evoqua that is recorded on the company's balance sheet. Investors also form their own opinion of Evoqua Water's value that differs from its market value or its book value, called intrinsic value, which is Evoqua Water's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Evoqua Water's market value can be influenced by many factors that don't directly affect Evoqua Water's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Evoqua Water's value and its price as these two are different measures arrived at by different means. Investors typically determine Evoqua Water value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Evoqua Water's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.