Aecom Technology Correlations

ACM Stock  USD 113.42  0.98  0.87%   
The current 90-days correlation between Aecom Technology and Quanta Services is 0.49 (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 0.69 (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

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  0.94ORN Orion Group HoldingsPairCorr
  0.96PWR Quanta Services Earnings Call This WeekPairCorr
  0.97STN StantecPairCorr
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Moving against Aecom Stock

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  0.43KBR KBR IncPairCorr
  0.5SKBL Skyline BuildersPairCorr

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   
MYRGPWR
FIXPWR
EMEPWR
FIXSTN
EMEMYRG
FIXMYRG
  
High negative correlations   
FLRKBR
EMEKBR
JKBR
STNKBR
MTRXKBR
KBRPWR

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  1.33  0.44  0.27  0.67  1.02 
 3.24 
 13.04 
KBR  1.27 (0.05) 0.00  0.54  0.00 
 2.59 
 12.35 
FLR  2.07  0.56  0.36  0.74  1.08 
 5.44 
 13.87 
TTEK  0.99  0.27  0.19  0.79  0.43 
 2.14 
 14.58 
MTRX  1.93  0.64  0.11 (0.79) 2.24 
 4.05 
 20.28 
MYRG  1.72  0.56  0.37  0.68  0.96 
 3.33 
 23.28 
EME  1.30  0.40  0.27  0.54  1.06 
 3.84 
 7.37 
STN  0.85  0.28  0.19  0.85  0.31 
 1.94 
 6.57 
FIX  1.61  0.73  0.23 (1.78) 1.33 
 4.51 
 8.48 
J  1.10  0.05  0.08  0.25  1.13 
 3.00 
 8.28