Pair Correlation Between Big Lots and Wal Mart

This module allows you to analyze existing cross correlation between Big Lots Inc and Wal Mart Stores Inc. You can compare the effects of market volatilities on Big Lots and Wal Mart 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 Big Lots with a short position of Wal Mart. See also your portfolio center. Please also check ongoing floating volatility patterns of Big Lots and Wal Mart.
 Time Horizon     30 Days    Login   to change
Symbolsvs
 Big Lots Inc  vs   Wal Mart Stores Inc
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  9,289  in Wal Mart Stores Inc on January 25, 2018 and sell it today you would lose (12.00)  from holding Wal Mart Stores Inc or give up 0.13% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Big Lots and Wal Mart
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Parameters

Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.19%
ValuesDaily Returns

Diversification

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Big Lots Inc and Wal Mart Stores Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Wal Mart Stores and Big Lots 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 Big Lots Inc are associated (or correlated) with Wal Mart. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Wal Mart Stores has no effect on the direction of Big Lots i.e. Big Lots and Wal Mart go up and down completely randomly.

Comparative Volatility

Wal Mart Stores

  
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Risk-Adjusted Performance

Over the last 30 days Wal Mart Stores Inc has generated negative risk-adjusted returns adding no value to investors with long positions.