Correlation Analysis Between Best Buy and Five Below

This module allows you to analyze existing cross correlation between Best Buy Co and Five Below. You can compare the effects of market volatilities on Best Buy and Five Below 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 Five Below. See also your portfolio center. Please also check ongoing floating volatility patterns of Best Buy and Five Below.
Horizon     30 Days    Login   to change
Symbolsvs
Check Efficiency

Comparative Performance

Best Buy  
66

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Best Buy Co are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days. Inspite fairly weak basic indicators, Best Buy showed solid returns over the last few months and may actually be approaching a breakup point.
Five Below  
77

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Five Below are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days. In spite of rather weak fundamental drivers, Five Below exhibited solid returns over the last few months and may actually be approaching a breakup point.

Best Buy and Five Below Volatility Contrast

 Predicted Return Density 
      Returns 

Best Buy Co Inc  vs.  Five Below Inc

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, Best Buy is expected to generate 1.09 times less return on investment than Five Below. But when comparing it to its historical volatility, Best Buy Co is 1.05 times less risky than Five Below. It trades about 0.1 of its potential returns per unit of risk. Five Below is currently generating about 0.1 of returns per unit of risk over similar time horizon. If you would invest  10,850  in Five Below on October 13, 2019 and sell it today you would earn a total of  1,465  from holding Five Below or generate 13.5% return on investment over 30 days.

Pair Corralation between Best Buy and Five Below

0.33
Time Period3 Months [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Best Buy and Five Below

Best Buy Co Inc diversification synergy

Weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding Best Buy Co Inc and Five Below Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Five Below and Best Buy is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Best Buy Co are associated (or correlated) with Five Below. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Five Below has no effect on the direction of Best Buy i.e. Best Buy and Five Below go up and down completely randomly.
See also your portfolio center. Please also try Content Syndication module to quickly integrate customizable finance content to your own investment portal.


 
Search macroaxis.com