Acuity Brands Correlations
| AYI Stock | USD 179.26 1.81 1.02% |
The correlation of Acuity Brands is a statistical measure of how it moves in relation to other equities. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Acuity Brands moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Acuity Brands moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
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 tightly coupled with the direction of predictive economic indicators such as signals in housing. Acuity |
The ability to find closely correlated positions to Acuity 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 Acuity 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 Acuity 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 Acuity Brands to buy it.
Moving together with Acuity Stock
| + | 0.82 | WIRE | Encore Wire | Fiscal Quarter End 31st of December 2023 | PairCorr |
Moving against Acuity Stock
| - | 0.77 | ELVA | Electrovaya Common Shares | Earnings Call This Week | PairCorr | |
| - | 0.64 | FREY | FREYR Battery SA | Buyout Trend | PairCorr | |
| - | 0.59 | EOSE | Eos Energy Enterprises | Fiscal Quarter End 31st of December 2023 | PairCorr | |
| - | 0.53 | EAF | GrafTech International | Fiscal Quarter End 31st of December 2023 | PairCorr | |
| - | 0.5 | EPOW | Sunrise New Energy | PairCorr | ||
| - | 0.5 | ENR | Energizer Holdings | Fiscal Quarter End 31st of December 2023 | PairCorr | |
| - | 0.42 | KE | Kimball Electronics | Fiscal Quarter End 31st of December 2023 | PairCorr | |
| - | 0.63 | LSCG | Lighting Science | PairCorr | ||
| - | 0.62 | NEOV | NeoVolta Common Stock | Fiscal Quarter End 31st of December 2023 | PairCorr | |
| - | 0.47 | NCNC | Noco-noco Ordinary Share | PairCorr |
Related Correlations Analysis
ELVA | WIRE | HPQ | BA | IBM | PFE | JPM | CAT | PG | GE | ||
ELVA | -0.7 | 0.41 | 0.33 | -0.06 | 0.56 | -0.25 | 0.49 | 0.55 | 0.01 | ELVA | |
WIRE | -0.7 | -0.13 | 0.01 | 0.48 | -0.64 | 0.51 | -0.5 | -0.19 | 0.42 | WIRE | |
HPQ | 0.41 | -0.13 | 0.89 | 0.65 | 0.3 | 0.49 | 0.26 | 0.68 | 0.63 | HPQ | |
BA | 0.33 | 0.01 | 0.89 | 0.78 | 0.29 | 0.66 | 0.32 | 0.64 | 0.78 | BA | |
IBM | -0.06 | 0.48 | 0.65 | 0.78 | -0.26 | 0.72 | -0.21 | 0.6 | 0.85 | IBM | |
PFE | 0.56 | -0.64 | 0.3 | 0.29 | -0.26 | -0.11 | 0.89 | -0.02 | -0.12 | PFE | |
JPM | -0.25 | 0.51 | 0.49 | 0.66 | 0.72 | -0.11 | 0.08 | 0.27 | 0.84 | JPM | |
CAT | 0.49 | -0.5 | 0.26 | 0.32 | -0.21 | 0.89 | 0.08 | -0.04 | 0.03 | CAT | |
PG | 0.55 | -0.19 | 0.68 | 0.64 | 0.6 | -0.02 | 0.27 | -0.04 | 0.54 | PG | |
GE | 0.01 | 0.42 | 0.63 | 0.78 | 0.85 | -0.12 | 0.84 | 0.03 | 0.54 | GE | |
ELVA | WIRE | HPQ | BA | IBM | PFE | JPM | CAT | PG | GE |
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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 | High negative correlations |
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 | Information Ratio | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| ELVA | 3.09 | (0.27) | 0.00 | (0.17) | 0.00 | (0.06) | 0.00 | 5.38 | (7.07) | 24.80 | |
| WIRE | 1.60 | 0.18 | 0.09 | 0.11 | 1.88 | 0.08 | (1.73) | 3.43 | (3.67) | 11.49 | |
| HPQ | 1.08 | (0.08) | 0.00 | (0.12) | 0.00 | (0.06) | 0.00 | 2.16 | (2.18) | 6.63 | |
| BA | 1.16 | 0.03 | 0.02 | 0.03 | 1.46 | 0.0216 | (1.14) | 2.67 | (2.43) | 6.01 | |
| IBM | 0.73 | 0.13 | 0.15 | 0.22 | 0.74 | 0.13 | (0.78) | 1.56 | (1.40) | 5.74 | |
| PFE | 1.13 | (0.24) | 0.00 | (0.31) | 0.00 | (0.16) | 0.00 | 2.49 | (2.46) | 7.72 | |
| JPM | 0.74 | 0.08 | 0.08 | 0.08 | 0.93 | 0.08 | (0.78) | 1.54 | (1.36) | 5.54 | |
| CAT | 1.23 | (0.15) | 0.00 | (0.11) | 0.00 | (0.09) | 0.00 | 2.41 | (2.36) | 9.06 | |
| PG | 0.68 | 0.00 | 0.00 | 0.00 | 0.81 | 0.0027 | (0.71) | 1.22 | (1.34) | 4.34 | |
| GE | 1.18 | 0.09 | 0.07 | 0.08 | 1.14 | 0.06 | (1.38) | 2.53 | (2.13) | 8.75 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Acuity 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.Did you try this?
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Acuity Brands Corporate Directors
Acuity Brands corporate directors refer to members of an Acuity Brands board of directors. The board of directors generally takes responsibility for the Acuity Brands' affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Acuity Brands' board members must vote for the resolution. The Acuity Brands board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| Julia North | Independent Director | Profile | |
| Gordon Harnett | Independent Director | Profile | |
| Maya Leibman | Independent Director | Profile | |
| James Hance | Lead Independent Director | Profile |
Already Invested in Acuity Brands?
The danger of trading Acuity Brands is mainly related to its market volatility and company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Acuity Brands is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Acuity Brands. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Acuity Brands is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Acuity Brands offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Acuity Brands' financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Acuity Brands Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Acuity Brands 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 tightly coupled with the direction of predictive economic indicators such as signals in housing. For more detail on how to invest in Acuity Stock please use our How to Invest in Acuity Brands guide.You can also try the Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
Complementary Tools for Acuity Stock analysis
When running Acuity Brands' price analysis, check to measure Acuity Brands' market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Acuity Brands is operating at the current time. Most of Acuity Brands' value examination focuses on studying past and present price action to predict the probability of Acuity Brands' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Acuity Brands' price. Additionally, you may evaluate how the addition of Acuity Brands to your portfolios can decrease your overall portfolio volatility.
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Is Acuity Brands' industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Acuity Brands. If investors know Acuity will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Acuity Brands listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.24) | Dividend Share 0.52 | Earnings Share 10.76 | Revenue Per Share 124.26 | Quarterly Revenue Growth (0.09) |
The market value of Acuity Brands is measured differently than its book value, which is the value of Acuity that is recorded on the company's balance sheet. Investors also form their own opinion of Acuity Brands' value that differs from its market value or its book value, called intrinsic value, which is Acuity Brands' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Acuity Brands' market value can be influenced by many factors that don't directly affect Acuity Brands' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Acuity Brands' value and its price as these two are different measures arrived at by different means. Investors typically determine if Acuity Brands is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Acuity Brands' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.