ACCO Brands Correlations

A3B Stock

EUR 5.10 0.00 0.00%

The current 90-days correlation between ACCO Brands and Addus HomeCare is 0.22 (i.e., Modest diversification). The correlation of ACCO 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.

ACCO Brands Correlation With Market

Weak diversification

The correlation between ACCO Brands and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ACCO Brands and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with ACCO Stock

0.67	RIC1	Ricoh Company	Pair Corr
0.71	CNJ	Canon Marketing Japan	Pair Corr
0.72	MHR	Herman Miller	Pair Corr
0.85	HO9	HNI Corporation	Pair Corr
0.76	XTP	Sino AG	Pair Corr
0.85	74F	LIFE BANC SPLIT	Pair Corr
0.94	G8L	GREENLIGHT CAP RE	Pair Corr
0.87	MAQ	Marriott International	Pair Corr
0.63	89W	GRUPO ECOENER EO	Pair Corr
0.95	NSE	Nomura Holdings	Pair Corr
0.81	NDA	Aurubis AG	Pair Corr
0.86	J7Z	Jazz Pharmaceuticals plc	Pair Corr
0.7	GTX	Gentex	Pair Corr
0.89	GM0N	GLOBUS MEDICAL A	Pair Corr
0.9	UFH	US Foods Holding	Pair Corr
0.86	3EC	Eaton PLC	Pair Corr
0.92	51KB	AVITA Medical	Pair Corr
0.87	NY70	MOLSON RS BEVERAGE	Pair Corr
0.75	8CF	CLOUDFLARE INC A	Pair Corr

Moving against ACCO Stock

0.84	MBH3	Maschinenfabrik Berthold	Pair Corr
0.79	RFC4	COPAUR MINERALS INC	Pair Corr
0.67	BI5	Brother Industries	Pair Corr
0.66	SG9	Strix Group Plc	Pair Corr
0.57	0KJ	ABERFORTH SMCOS TRLS	Pair Corr
0.49	CHK	China Resources Beer	Pair Corr
0.39	9RV	REVLTNRY CNCPT	Pair Corr

Related Correlations Analysis

	A41	ACX	E1V	0HF	1NN	WX7	1QK
A41		0.09	0.04	-0.02	0.02	-0.06	0.21	A41
ACX	0.09		0.68	0.62	-0.69	-0.67	0.55	ACX
E1V	0.04	0.68		0.42	-0.71	-0.83	-0.01	E1V
0HF	-0.02	0.62	0.42		-0.5	-0.27	0.41	0HF
1NN	0.02	-0.69	-0.71	-0.5		0.65	-0.05	1NN
WX7	-0.06	-0.67	-0.83	-0.27	0.65		-0.01	WX7
1QK	0.21	0.55	-0.01	0.41	-0.05	-0.01		1QK
	A41	ACX	E1V	0HF	1NN	WX7	1QK

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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

E1V	+ 0.68	ACX
WX7	+ 0.65	1NN
0HF	+ 0.62	ACX
1QK	+ 0.55	ACX
0HF	+ 0.42	E1V
1QK	+ 0.41	0HF

High negative correlations

WX7	- 0.83	E1V
1NN	- 0.71	E1V
1NN	- 0.69	ACX
WX7	- 0.67	ACX
1NN	- 0.5	0HF
WX7	- 0.27	0HF

Risk-Adjusted Indicators

There is a big difference between ACCO Stock performing well and ACCO 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 ACCO 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
A41	1.54	0.13	0.04	(17.33)	1.77	(2.09)	3.70	(2.61)	9.75
ACX	1.46	(0.39)	0.00	(96.30)	0.00	0.00	2.67	(3.41)	10.48
E1V	1.49	(0.21)	0.00	(2.11)	0.00	0.00	3.25	(3.42)	12.51
0HF	2.19	(0.17)	0.00	(0.40)	0.00	0.00	5.08	(5.61)	18.20
1NN	1.26	0.27	0.20	2.43	0.97	(1.66)	2.99	(1.83)	6.79
WX7	0.92	0.14	0.09	0.38	0.91	(1.24)	2.08	(1.96)	5.53
1QK	1.26	0.01	(0.01)	0.21	1.45	(1.69)	3.18	(2.96)	9.05

Be your own money manager

Our tools can tell you how much better you can do entering a position in ACCO Brands 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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