Acuity Brands Correlations

AYI Stock

USD 320.41 4.79 1.52%

The current 90-days correlation between Acuity Brands and Energizer Holdings is -0.07 (i.e., Good diversification). The correlation of Acuity Brands 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.

Acuity Brands Correlation With Market

Very weak diversification

The correlation between Acuity Brands and DJI is 0.42 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Acuity Brands 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 Acuity Brands. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

For more detail on how to invest in Acuity Stock please use our How to Invest in Acuity Brands guide.

Moving together with Acuity Stock

0.96	EAF	GrafTech International	Pair Corr
0.93	ESP	Espey Mfg Electronics	Pair Corr
0.88	NVT	nVent Electric PLC	Pair Corr
0.77	NVX	Novonix Ltd ADR	Pair Corr
0.95	VRT	Vertiv Holdings	Pair Corr
0.77	HAYW	Hayward Holdings	Pair Corr
0.92	HUBB	Hubbell	Pair Corr
0.63	NEOVW	NeoVolta Warrant	Pair Corr
0.68	ADSEW	ADS TEC ENERGY	Pair Corr
0.8	PLPC	Preformed Line Products	Pair Corr

Moving against Acuity Stock

0.85	FCEL	FuelCell Energy Fiscal Year End 17th of December 2024	Pair Corr
0.77	XPON	Expion360	Pair Corr
0.69	FLUX	Flux Power Holdings	Pair Corr
0.62	EPOW	Sunrise New Energy	Pair Corr
0.64	LSCG	Lighting Science	Pair Corr
0.48	EOSEW	Eos Energy Enterprises	Pair Corr
0.46	SDSTW	Stardust Power Symbol Change	Pair Corr
0.43	IPWR	Ideal Power Upward Rally	Pair Corr
0.35	XNNHQ	Xenonics Holdings	Pair Corr

Related Correlations Analysis

	ENR	HOLI	ESP	PLPC	NVT	ENS	WIRE	KE	AEIS
ENR		0.46	0.62	0.69	0.63	-0.19	0.31	0.54	0.68	ENR
HOLI	0.46		0.08	0.39	0.12	-0.64	0.16	0.58	0.41	HOLI
ESP	0.62	0.08		0.63	0.81	0.19	0.61	0.37	0.64	ESP
PLPC	0.69	0.39	0.63		0.82	0.01	0.46	0.79	0.78	PLPC
NVT	0.63	0.12	0.81	0.82		0.27	0.48	0.55	0.79	NVT
ENS	-0.19	-0.64	0.19	0.01	0.27		-0.12	-0.11	0.08	ENS
WIRE	0.31	0.16	0.61	0.46	0.48	-0.12		0.26	0.14	WIRE
KE	0.54	0.58	0.37	0.79	0.55	-0.11	0.26		0.7	KE
AEIS	0.68	0.41	0.64	0.78	0.79	0.08	0.14	0.7		AEIS
	ENR	HOLI	ESP	PLPC	NVT	ENS	WIRE	KE	AEIS

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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

NVT	+ 0.82	PLPC
NVT	+ 0.81	ESP
KE	+ 0.79	PLPC
AEIS	+ 0.79	NVT
AEIS	+ 0.78	PLPC
AEIS	+ 0.7	KE

High negative correlations

ENS	- 0.64	HOLI
ENS	- 0.19	ENR
WIRE	- 0.12	ENS
KE	- 0.11	ENS

Risk-Adjusted Indicators

There is a big difference between Acuity Stock performing well and Acuity Brands 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 Acuity Brands' 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
ENR	1.13	0.40	0.23	2.11	1.03	(1.36)	2.86	(1.29)	12.72
HOLI	1.21	0.12	0.03	0.56	1.72	(1.24)	2.60	(3.35)	19.49
ESP	2.15	0.43	0.19	0.56	1.92	(2.50)	4.89	(3.29)	26.01
PLPC	1.59	0.07	0.08	0.12	1.61	(1.77)	3.21	(2.61)	11.72
NVT	1.64	0.05	0.05	0.11	2.21	(1.82)	3.08	(2.34)	13.93
ENS	1.19	(0.12)	(0.05)	(0.01)	1.68	(1.23)	2.21	(2.35)	8.90
WIRE	0.70	0.18	0.07	(0.50)	0.53	(0.76)	1.78	(1.25)	12.89
KE	1.63	(0.07)	0.00	0.05	1.76	(1.90)	3.85	(3.18)	11.84
AEIS	1.48	(0.09)	(0.01)	0.04	1.91	(1.55)	3.85	(2.92)	9.74

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