This module allows you to analyze existing cross correlation between Best Buy Co and Alcoa Corporation. You can compare the effects of market volatilities on Best Buy and Alcoa 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 Best Buy with a short position of Alcoa. See also your portfolio center. Please also check ongoing floating volatility patterns of Best Buy and Alcoa.
|Time Horizon||30 Days Login to change|
Best Buy Co Inc vs. Alcoa Corp.
Considering 30-days investment horizon, Best Buy Co is expected to generate 1.17 times more return on investment than Alcoa. However, Best Buy is 1.17 times more volatile than Alcoa Corporation. It trades about -0.02 of its potential returns per unit of risk. Alcoa Corporation is currently generating about -0.23 per unit of risk. If you would invest 7,830 in Best Buy Co on May 20, 2018 and sell it today you would lose (124.00) from holding Best Buy Co or give up 1.58% of portfolio value over 30 days.