Acciona SA Correlations

ACXIF Stock

USD 111.68 3.44 2.99%

The current 90-days correlation between Acciona SA and ACS Actividades de is 0.21 (i.e., Modest diversification). The correlation of Acciona SA 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.

Acciona SA Correlation With Market

Good diversification

The correlation between Acciona SA and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Acciona SA and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Acciona SA could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Acciona SA 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 Acciona SA - 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 Acciona SA to buy it.

Moving together with Acciona Pink Sheet

0.73	VCISY	Vinci SA ADR	Pair Corr
0.7	VCISF	VINCI SA	Pair Corr
0.65	PBMRF	PT Bumi Resources	Pair Corr
0.62	BKRKF	PT Bank Rakyat	Pair Corr
0.77	PBCRF	PT Bank Central Earnings Call Today	Pair Corr
0.67	AEXAF	Atos SE	Pair Corr

Moving against Acciona Pink Sheet

0.67	PDCO	Patterson Companies Sell-off Trend	Pair Corr
0.62	CMWCF	Cromwell Property	Pair Corr
0.46	LTOUF	Larsen Toubro Limited Earnings Call This Week	Pair Corr
0.38	CICHF	China Construction Bank	Pair Corr
0.36	FIX	Comfort Systems USA	Pair Corr
0.34	EME	EMCOR Group	Pair Corr
0.31	SFM	Sprouts Farmers Market	Pair Corr
0.81	EAT	Brinker International Earnings Call This Week	Pair Corr
0.79	V	Visa Class A Earnings Call This Week	Pair Corr
0.69	DMRC	Digimarc	Pair Corr
0.69	VRSN	VeriSign	Pair Corr
0.68	FTNT	Fortinet	Pair Corr
0.63	EOSE	Eos Energy Enterprises Buyout Trend	Pair Corr
0.59	CHHQY	China Hongqiao Group	Pair Corr
0.59	BPIRY	Piraeus Bank SA	Pair Corr
0.59	HQY	HealthEquity	Pair Corr
0.44	QFIN	360 Finance	Pair Corr
0.75	ACHR	Archer Aviation Aggressive Push	Pair Corr
0.74	BBAI	BigBearai Holdings Aggressive Push	Pair Corr
0.64	SOFI	SoFi Technologies Earnings Call This Week	Pair Corr
0.56	DAL	Delta Air Lines	Pair Corr
0.55	IROQ	IF Bancorp Earnings Call This Week	Pair Corr
0.54	DAO	Youdao Inc	Pair Corr

Related Correlations Analysis

	BBCPW	JGCCY	ACSAF	KAJMY	ACSAY	ARCAY	BADFF
BBCPW		0.53	-0.43	0.31	-0.19	0.51	0.67	BBCPW
JGCCY	0.53		-0.71	0.4	-0.32	0.7	0.8	JGCCY
ACSAF	-0.43	-0.71		-0.25	0.52	-0.89	-0.7	ACSAF
KAJMY	0.31	0.4	-0.25		0.24	0.07	0.33	KAJMY
ACSAY	-0.19	-0.32	0.52	0.24		-0.69	-0.37	ACSAY
ARCAY	0.51	0.7	-0.89	0.07	-0.69		0.74	ARCAY
BADFF	0.67	0.8	-0.7	0.33	-0.37	0.74		BADFF
	BBCPW	JGCCY	ACSAF	KAJMY	ACSAY	ARCAY	BADFF

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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

BADFF	+ 0.8	JGCCY
BADFF	+ 0.74	ARCAY
ARCAY	+ 0.7	JGCCY
BADFF	+ 0.67	BBCPW
JGCCY	+ 0.53	BBCPW
ACSAY	+ 0.52	ACSAF

High negative correlations

ARCAY	- 0.89	ACSAF
ACSAF	- 0.71	JGCCY
BADFF	- 0.7	ACSAF
ARCAY	- 0.69	ACSAY
ACSAF	- 0.43	BBCPW
BADFF	- 0.37	ACSAY

Risk-Adjusted Indicators

There is a big difference between Acciona Pink Sheet performing well and Acciona SA 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 Acciona SA'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
BBCPW	6.90	(1.41)	0.00	3.42	0.00	0.00	0.00	(33.33)	90.00
JGCCY	0.95	(0.11)	0.00	(0.14)	0.00	0.00	2.78	(1.82)	24.97
ACSAF	0.22	0.10	0.00	0.66	0.00	0.00	0.00	0.00	4.24
KAJMY	2.34	(0.04)	0.00	0.16	0.00	0.00	8.93	(8.19)	27.21
ACSAY	1.04	0.17	0.11	0.80	1.12	(1.16)	3.04	(2.19)	8.23
ARCAY	0.70	(0.26)	0.00	(0.96)	0.00	0.00	0.92	(3.18)	7.76
BADFF	1.25	(0.21)	0.00	(0.74)	0.00	0.00	2.80	(5.01)	16.88

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Our tools can tell you how much better you can do entering a position in Acciona SA 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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