This module allows you to analyze existing cross correlation between Alcoa Inc and Reliance Steel Aluminum Co. You can compare the effects of market volatilities on Alcoa and Reliance Steel and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Alcoa with a short position of Reliance Steel. See also your portfolio center. Please also check ongoing floating volatility patterns of Alcoa and Reliance Steel.
|Investment Horizon||30 Days Login to change|
Allowing for the 30-days total investment horizon, Alcoa Inc is expected to under-perform the Reliance Steel. In addition to that, Alcoa is 1.54 times more volatile than Reliance Steel Aluminum Co. It trades about -0.1 of its total potential returns per unit of risk. Reliance Steel Aluminum Co is currently generating about 0.1 per unit of volatility. If you would invest 8,175 in Reliance Steel Aluminum Co on January 26, 2017 and sell it today you would earn a total of 233.00 from holding Reliance Steel Aluminum Co or generate 2.85% return on investment over 30 days.