>

Correlation Between Best Buy and 1 800

Analyzing existing cross correlation between Best Buy Co and 1 800 FLOWERS COM. You can compare the effects of market volatilities on Best Buy and 1 800 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 1 800. Check out your portfolio center. Please also check ongoing floating volatility patterns of Best Buy and 1 800.

Specify exactly 2 symbols:

Refresh Compare

Diversification Opportunities for Best Buy and 1 800

Best Buy Co Inc diversification synergy
0.57
<div class='circular--portrait-small' style='background:#754DEB;color: white;font-size:1.1em;padding-top: 12px;;'>BES</div>
<div class='circular--portrait-small' style='background:#2A0CD0;color: white;font-size:2.0em;padding-top:3px;;'>1</div>

Very weak diversification

The 3 months correlation between Best Buy and 1 800 is 0.57. Overlapping area represents the amount of risk that can be diversified away by holding Best Buy Co Inc and 1 800 FLOWERS COM Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on 1 800 FLOWERS 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 1 800. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of 1 800 FLOWERS has no effect on the direction of Best Buy i.e. Best Buy and 1 800 go up and down completely randomly.

Pair Corralation between Best Buy and 1 800

Considering 30-days investment horizon, Best Buy is expected to generate 11.17 times less return on investment than 1 800. But when comparing it to its historical volatility, Best Buy Co is 1.51 times less risky than 1 800. It trades about 0.03 of its potential returns per unit of risk. 1 800 FLOWERS COM is currently generating about 0.21 of returns per unit of risk over similar time horizon. If you would invest  1,347  in 1 800 FLOWERS COM on January 27, 2020 and sell it today you would earn a total of  416.00  from holding 1 800 FLOWERS COM or generate 30.88% return on investment over 30 days.
Time Period3 Months [change]
DirectionMoves Together 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Best Buy Co Inc  vs.  1 800 FLOWERS COM Inc

 Performance (%) 
    
  Timeline 
Best Buy 
11

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Best Buy Co are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days. Inspite fairly strong basic indicators, Best Buy is not utilizing all of its potentials. The continuing stock price disturbance, may contribute to short term losses for the investors.
1 800 FLOWERS 
1414

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in 1 800 FLOWERS COM are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days. In defiance of relatively abnormal forward-looking signals, 1 800 reported solid returns over the last few months and may actually be approaching a breakup point.

Best Buy and 1 800 Volatility Contrast

 Predicted Return Density 
    
  Returns 
Check out your portfolio center. Please also try Theme Ratings module to determine theme ratings based on digital equity recommendations. macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.