Acuity Brands Correlations

AYI Stock

USD 328.53 1.00 0.31%

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

Significant diversification

The correlation between Acuity Brands and DJI is 0.04 (i.e., Significant 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

0.7

PLPC

Preformed Line Products

Pair Corr

Moving against Acuity Stock

0.47	FCEL	FuelCell Energy	Pair Corr
0.46	NXU	Nxu Inc	Pair Corr
0.43	SLDPW	Solid Power	Pair Corr
0.41	STI	Solidion Technology Symbol Change	Pair Corr
0.34	PITAW	Heramba Electric plc	Pair Corr
0.32	IPWR	Ideal Power	Pair Corr

Related Correlations Analysis

	ENR	HOLI	ESP	PLPC	NVT	ENS	WIRE	KE	AEIS
ENR		-0.56	-0.43	0.28	0.41	-0.31	0.32	0.27	0.35	ENR
HOLI	-0.56		-0.02	0.02	-0.34	0.37	0.16	-0.2	0.14	HOLI
ESP	-0.43	-0.02		0.09	0.24	0.54	-0.51	0.32	-0.46	ESP
PLPC	0.28	0.02	0.09		0.25	0.38	0.3	0.52	0.09	PLPC
NVT	0.41	-0.34	0.24	0.25		0.35	-0.22	0.61	0.13	NVT
ENS	-0.31	0.37	0.54	0.38	0.35		-0.31	0.34	-0.08	ENS
WIRE	0.32	0.16	-0.51	0.3	-0.22	-0.31		0.07	0.53	WIRE
KE	0.27	-0.2	0.32	0.52	0.61	0.34	0.07		0.31	KE
AEIS	0.35	0.14	-0.46	0.09	0.13	-0.08	0.53	0.31		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

KE	+ 0.61	NVT
ENS	+ 0.54	ESP
AEIS	+ 0.53	WIRE
KE	+ 0.52	PLPC
NVT	+ 0.41	ENR
ENS	+ 0.38	PLPC

High negative correlations

HOLI	- 0.56	ENR
WIRE	- 0.51	ESP
AEIS	- 0.46	ESP
ESP	- 0.43	ENR
NVT	- 0.34	HOLI
WIRE	- 0.31	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	1.12	0.04	(0.01)	0.17	1.30	(1.21)	1.74	(2.37)	12.16
HOLI	1.21	0.08	0.02	0.20	1.72	(1.24)	2.60	(3.35)	19.49
ESP	1.66	(0.16)	0.00	(0.31)	0.00	0.00	3.76	(2.82)	10.44
PLPC	1.52	0.22	0.10	0.63	1.50	(1.74)	2.84	(2.57)	13.53
NVT	1.72	(0.19)	0.00	(0.19)	0.00	0.00	3.32	(3.98)	26.00
ENS	1.31	(0.05)	(0.05)	0.00	1.65	(1.40)	2.76	(2.23)	8.89
WIRE	0.70	0.14	0.07	1.28	0.53	(0.76)	1.78	(1.25)	12.89
KE	1.48	(0.04)	(0.03)	0.04	1.86	(1.48)	2.30	(2.96)	12.30
AEIS	1.65	0.09	0.01	0.39	2.39	(1.68)	3.29	(3.27)	15.56

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