Acuity Brands Correlations

AYI Stock

USD 267.25 0.29 0.11%

The current 90-days correlation between Acuity Brands and Energizer Holdings is 0.34 (i.e., Weak 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 0.58 (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

0.61	ELPW	Elong Power Holding	Pair Corr
0.71	ENVX	Enovix Corp	Pair Corr
0.69	GWH	ESS Tech	Pair Corr
0.75	NVT	nVent Electric PLC	Pair Corr
0.74	VRT	Vertiv Holdings Sell-off Trend	Pair Corr
0.64	WBX	Wallbox NV	Pair Corr
0.74	HUBB	Hubbell	Pair Corr
0.67	IPWR	Ideal Power	Pair Corr
0.75	ADSEW	ADS TEC ENERGY	Pair Corr

Related Correlations Analysis

	ENR	HOLI	ESP	PLPC	NVT	ENS	WIRE	KE	AEIS
ENR		0.0	0.66	-0.24	0.82	-0.67	0.0	0.82	0.36	ENR
HOLI	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	HOLI
ESP	0.66	0.0		0.11	0.64	-0.38	0.0	0.7	0.35	ESP
PLPC	-0.24	0.0	0.11		-0.05	0.3	0.0	-0.12	0.0	PLPC
NVT	0.82	0.0	0.64	-0.05		-0.34	0.0	0.77	0.67	NVT
ENS	-0.67	0.0	-0.38	0.3	-0.34		0.0	-0.35	0.16	ENS
WIRE	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	WIRE
KE	0.82	0.0	0.7	-0.12	0.77	-0.35	0.0		0.65	KE
AEIS	0.36	0.0	0.35	0.0	0.67	0.16	0.0	0.65		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	ENR
KE	+ 0.82	ENR
KE	+ 0.77	NVT
KE	+ 0.7	ESP
AEIS	+ 0.67	NVT
ESP	+ 0.66	ENR

High negative correlations

ENS	- 0.67	ENR
ENS	- 0.38	ESP
KE	- 0.35	ENS
ENS	- 0.34	NVT
PLPC	- 0.24	ENR
KE	- 0.12	PLPC

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	1.00	(0.25)	0.00	(0.62)	0.00	0.00	1.73	(2.76)	6.06
HOLI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ESP	1.73	(0.08)	0.00	(0.30)	0.00	0.00	3.01	(3.33)	15.86
PLPC	1.69	0.34	0.15	0.20	1.90	(1.80)	2.63	(3.46)	16.72
NVT	1.82	(0.31)	0.00	(0.36)	0.00	0.00	3.32	(4.58)	19.05
ENS	1.29	0.09	0.07	0.05	1.53	(1.34)	2.47	(2.66)	7.78
WIRE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
KE	1.49	(0.08)	0.00	(0.16)	0.00	0.00	2.21	(3.39)	10.46
AEIS	2.16	(0.02)	0.00	(0.09)	0.00	0.00	4.51	(5.23)	17.80

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