Ameresco Correlations

Stocks . USA . 
Stock . Ameresco
AMRC Stock  USD 18.85  0.76  3.88%   
The current 90-days correlation between Ameresco and Construction Partners is 0.39 (i.e., Weak diversification). The correlation of Ameresco 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.

Ameresco Correlation With Market

Very weak diversification

The correlation between Ameresco and DJI is 0.53 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ameresco and DJI in the same portfolio, assuming nothing else is changed.
  
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Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Ameresco. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.
For information on how to trade Ameresco Stock refer to our How to Trade Ameresco Stock guide.

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Moving against Ameresco Stock

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Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Ameresco Stock performing well and Ameresco 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 Ameresco'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.

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