Acuity Brands Correlations

Stocks . USA . 
Stock . Acuity Brands
AYI Stock  USD 292.66  1.60  0.55%   
The current 90-days correlation between Acuity Brands and Advanced Energy Industries is 0.46 (i.e., Very 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

Poor diversification

The correlation between Acuity Brands and DJI is 0.6 (i.e., Poor 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.
  
Build AI portfolio with Acuity Stock
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.

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Moving against Acuity Stock

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Related Correlations Analysis

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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.

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