Aecom Technology Correlations

ACM Stock  USD 113.08  0.34  0.30%   
The current 90-days correlation between Aecom Technology and Quanta Services is 0.43 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Aecom Technology moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Aecom Technology moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Aecom Technology Correlation With Market

Poor diversification

The correlation between Aecom Technology and DJI is 0.66 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Aecom Technology 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 Aecom Technology. 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.
To learn how to invest in Aecom Stock, please use our How to Invest in Aecom Technology guide.

Moving together with Aecom Stock

  0.83J Jacobs SolutionsPairCorr
  0.94DY Dycom IndustriesPairCorr
  0.63ESOA Energy Services Downward RallyPairCorr
  0.86WLDN Willdan Group Earnings Call This WeekPairCorr
  0.89ACA Arcosa Inc Earnings Call This WeekPairCorr
  0.91AGX Argan IncPairCorr
  0.97APG Api Group Corp Earnings Call This WeekPairCorr
  0.91EME EMCOR GroupPairCorr
  0.97FIX Comfort Systems USAPairCorr
  0.87FLR Fluor Earnings Call Next WeekPairCorr
  0.96GVA Granite Construction Earnings Call This WeekPairCorr
  0.79LMB Limbach HoldingsPairCorr
  0.97MTZ MasTec Inc Earnings Call This WeekPairCorr
  0.64ORN Orion Group HoldingsPairCorr
  0.95PWR Quanta Services Earnings Call This WeekPairCorr
  0.97STN StantecPairCorr
  0.81TIC AcurenPairCorr
  0.62GLDD Great Lakes DredgePairCorr
  0.94MYRG MYR Group Earnings Call This WeekPairCorr
  0.61NVEE NV5 GlobalPairCorr
  0.91PRIM Primoris ServicesPairCorr
  0.94ROAD Construction PartnersPairCorr
  0.92AMRC AmerescoPairCorr

Moving against Aecom Stock

  0.61VATE Innovate CorpPairCorr
  0.61FGL Founder Group LimitedPairCorr
  0.57WLGS Wang Lee Group,PairCorr
  0.55SKK PROSHARES ULTRASHORTPairCorr
  0.54EXPO ExponentPairCorr
  0.49KBR KBR IncPairCorr

Related Correlations Analysis

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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   
FIXPWR
MYRGPWR
EMEPWR
FIXMYRG
EMEMYRG
FIXEME
  
High negative correlations   
FLRKBR
EMEKBR
JKBR
STNKBR
KBRPWR
FIXKBR

Risk-Adjusted Indicators

There is a big difference between Aecom Stock performing well and Aecom Technology 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 Aecom Technology'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
PWR  1.25  0.55  0.41  0.95  0.43 
 3.24 
 13.04 
KBR  1.29 (0.29) 0.00 (0.09) 0.00 
 2.59 
 12.35 
FLR  2.03  0.58  0.39  0.81  0.95 
 5.44 
 13.87 
TTEK  0.98  0.27  0.17  0.78  0.40 
 2.14 
 14.58 
MTRX  1.79  0.05  0.06  0.27  2.16 
 3.70 
 20.28 
MYRG  1.69  0.68  0.49  0.92  0.57 
 3.33 
 23.28 
EME  1.23  0.47  0.35  0.69  0.69 
 3.84 
 7.37 
STN  0.84  0.29  0.19  0.94  0.17 
 1.94 
 6.57 
FIX  1.59  0.55  0.38  0.68  0.75 
 4.51 
 8.48 
J  1.08  0.03  0.07  0.25  1.10 
 3.00 
 8.28