Ameresco Correlations

Stocks . USA . 
Stock . Ameresco
AMRC Stock  USD 26.37  0.24  0.92%   
The current 90-days correlation between Ameresco and TPI Composites is 0.45 (i.e., Very weak diversification). The correlation of Ameresco 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.

Ameresco Correlation With Market

Average diversification

The correlation between Ameresco and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ameresco and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Ameresco. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.
For information on how to trade Ameresco Stock refer to our How to Trade Ameresco Stock guide.

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Related Correlations Analysis

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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   
HASI
+ 0.8
TPIC
NOVA
+ 0.66
TPIC
NOVA
+ 0.39
HASI
DQ
+ 0.12
HASI
  
High negative correlations   
NOVA
- 0.69
DQ
ATKR
- 0.3
HASI
ATKR
- 0.24
TPIC
DQ
- 0.21
TPIC
NOVA
- 0.16
ATKR
DQ
- 0.08
ATKR

Risk-Adjusted Indicators

There is a big difference between Ameresco Stock performing well and Ameresco 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 Ameresco'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.

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