Acme United Correlations

ACU Stock

USD 39.84 0.16 0.40%

The current 90-days correlation between Acme United and Mannatech Incorporated is -0.03 (i.e., Good diversification). The correlation of Acme United 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Acme United Correlation With Market

Average diversification

The correlation between Acme United and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Acme United 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 Acme United. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

For more information on how to buy Acme Stock please use our How to Invest in Acme United guide.

Moving together with Acme Stock

0.62

DRVN

Driven Brands Holdings

Pair Corr

Moving against Acme Stock

0.54	AWX	Avalon Holdings	Pair Corr
0.57	MEG	Montrose Environmental	Pair Corr
0.45	MMS	Maximus	Pair Corr
0.34	CBZ	CBIZ Inc	Pair Corr
0.34	GEO	Geo Group	Pair Corr
0.32	FOUR	Shift4 Payments	Pair Corr

Related Correlations Analysis

	CAWW	MTEX	NTCO	EWCZ	IPAR	SPB	NUS	PG	EPC	HELE
CAWW		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	CAWW
MTEX	0.0		0.0	0.25	-0.16	0.38	-0.37	-0.57	0.2	0.23	MTEX
NTCO	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	NTCO
EWCZ	0.0	0.25	0.0		0.7	0.35	-0.48	-0.26	-0.06	0.31	EWCZ
IPAR	0.0	-0.16	0.0	0.7		0.34	-0.19	0.07	0.17	0.43	IPAR
SPB	0.0	0.38	0.0	0.35	0.34		-0.43	-0.4	0.83	0.94	SPB
NUS	0.0	-0.37	0.0	-0.48	-0.19	-0.43		0.51	-0.16	-0.33	NUS
PG	0.0	-0.57	0.0	-0.26	0.07	-0.4	0.51		-0.11	-0.32	PG
EPC	0.0	0.2	0.0	-0.06	0.17	0.83	-0.16	-0.11		0.82	EPC
HELE	0.0	0.23	0.0	0.31	0.43	0.94	-0.33	-0.32	0.82		HELE
	CAWW	MTEX	NTCO	EWCZ	IPAR	SPB	NUS	PG	EPC	HELE

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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

HELE	+ 0.94	SPB
EPC	+ 0.83	SPB
HELE	+ 0.82	EPC
IPAR	+ 0.7	EWCZ
PG	+ 0.51	NUS
HELE	+ 0.43	IPAR

High negative correlations

PG	- 0.57	MTEX
NUS	- 0.48	EWCZ
NUS	- 0.43	SPB
PG	- 0.4	SPB
NUS	- 0.37	MTEX
HELE	- 0.33	NUS

Risk-Adjusted Indicators

There is a big difference between Acme Stock performing well and Acme United 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 Acme United'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
CAWW	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MTEX	3.82	(0.24)	0.00	0.09	0.00	0.00	10.26	(6.64)	43.88
NTCO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EWCZ	2.95	(0.32)	0.00	(0.26)	0.00	0.00	5.04	(6.28)	28.27
IPAR	1.56	(0.06)	0.00	(0.15)	0.00	0.00	2.91	(3.28)	9.65
SPB	1.16	(0.32)	0.00	(0.53)	0.00	0.00	1.61	(2.97)	9.90
NUS	2.87	0.27	0.07	0.08	3.09	(3.40)	7.77	(4.98)	22.72
PG	0.86	0.00	0.00	(0.09)	0.00	0.00	1.67	(2.18)	8.13
EPC	1.36	(0.20)	0.00	(0.54)	0.00	0.00	1.84	(2.90)	11.61
HELE	1.66	(0.45)	0.00	(1.37)	0.00	0.00	3.35	(3.90)	9.62

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