This module allows you to analyze existing cross correlation between Best Buy Co Inc and ATT Inc. You can compare the effects of market volatilities on Best Buy and ATT 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 ATT. See also your portfolio center
. Please also check ongoing floating volatility patterns of Best Buy
Best Buy Co Inc vs AT&T Inc.
Considering 30-days investment horizon, Best Buy Co Inc is expected to under-perform the ATT. In addition to that, Best Buy is 2.29 times more volatile than ATT Inc. It trades about -0.06 of its total potential returns per unit of risk. ATT Inc is currently generating about 0.04 per unit of volatility. If you would invest 3,677 in ATT Inc on February 17, 2018 and sell it today you would earn a total of 23.00 from holding ATT Inc or generate 0.63% return on investment over 30 days.
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Overlapping area represents the amount of risk that can be diversified away by holding Best Buy Co Inc and AT&T Inc. in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on ATT Inc 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 Inc are associated (or correlated) with ATT. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ATT Inc has no effect on the direction of Best Buy i.e. Best Buy and ATT go up and down completely randomly.
Over the last 30 days Best Buy Co Inc has generated negative risk-adjusted returns adding no value to investors with long positions.
Compared to the overall equity markets, risk-adjusted returns on investments in ATT Inc are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days.