Artive Commerce Indexes
ACI 25 vs SA40.
How listed South African commerce has done against the market as a whole. The SA40 is the JSE Top 40: the 40 largest companies on the JSE, miners, banks and insurers included. The ACI 25 is commerce only.
ACI 25
R40.46
Today -1.05%
SA40 JSE Top 40
99,394 points
Today -1.75%
Artive Commerce IndexesEvery period.
| Period | ACI 25 | SA40 | Difference |
|---|---|---|---|
| 1 month | -3.1% | -9.3% | +6.3 ptsACI 25 ahead |
| 3 months | -9.0% | -2.6% | -6.5 ptsACI 25 behind |
| Year to date | -12.3% | -7.9% | -4.4 ptsACI 25 behind |
| 1 year | -1.8% | -2.9% | +1.1 ptsACI 25 ahead |
| 2 years | – | – | – |
| 5 years | – | – | – |
ACI 25 vs SA40Side by side.
Artive Commerce IndexesRelative strength.
The ACI 25 divided by the SA40, times 100. When the line rises, commerce is beating the market; when it falls, the market is winning.
Artive Commerce IndexesRisk, over one year.
From daily closes over the last year. Volatility is annualised.
| ACI 25 | SA40 | |
|---|---|---|
| Volatility | 12.4% | 21.2% |
| Largest fall from a high | -14.0% | -17.4% |
| Best day | +2.95% | +4.16% |
| Worst day | -2.90% | -5.85% |
- Beta of the ACI 25 to the SA40
- 0.33
- Above 1, the ACI 25 tends to move more than the SA40; below 1, less.
- Correlation
- 0.57
- From -1 to 1: how closely the two move together day to day.
Artive Commerce IndexesWhat’s different.
| ACI 25 | SA40 | |
|---|---|---|
| What’s in it | 25 mid-cap commerce shares, ranked 26 to 50 by market value: the businesses below the giants. | The 40 largest JSE companies across every sector, including miners, banks and insurers. |
| How it’s weighted | Market value with caps: no company above 24%, and the biggest names held to 40% together. Reset quarterly. | Free-float market value, by FTSE/JSE. Reviewed quarterly. |
| How it’s quoted | In rand: the weighted average share price of its members. | In index points. |
SA40 is the name many brokers use for the JSE Top 40 index (FTSE/JSE Top 40, J200). Its prices here are delayed closes from Yahoo Finance.
Artive Capital doesn’t raise outside capital; it only trades and invests Artive’s own, and has no clients. This is a screen we use to decide where to look, not a recommendation to buy or sell anything. Prices are delayed and third-party data can be wrong; check with your broker before you act.
The Monday briefCommerce, in your inbox.
Every Monday: last week’s moves in JSE commerce, your own shares, and the results and numbers due this week. Free, and you can unsubscribe any time.
We don’t take outside money, but we always like talking markets and commerce.
For media, research and partnership questions, send us an email.