Correlation Analysis Between Lands End and Best Buy

This module allows you to analyze existing cross correlation between Lands End and Best Buy Co. You can compare the effects of market volatilities on Lands End and Best Buy 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 Lands End with a short position of Best Buy. See also your portfolio center. Please also check ongoing floating volatility patterns of Lands End and Best Buy.
Horizon     30 Days    Login   to change
Symbolsvs
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Comparative Performance

Lands End  
22

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Lands End are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days. In spite of rather conflicting fundamental drivers, Lands End exhibited solid returns over the last few months and may actually be approaching a breakup point.
Best Buy  
00

Risk-Adjusted Performance

Over the last 30 days Best Buy Co has generated negative risk-adjusted returns adding no value to investors with long positions. Inspite fairly strong basic indicators, Best Buy is not utilizing all of its potentials. The existing stock price disturbance, may contribute to short term losses for the investors.

Lands End and Best Buy Volatility Contrast

 Predicted Return Density 
      Returns 

Lands End Inc  vs.  Best Buy Co Inc

 Performance (%) 
      Timeline 

Pair Volatility

Allowing for the 30-days total investment horizon, Lands End is expected to generate 2.1 times more return on investment than Best Buy. However, Lands End is 2.1 times more volatile than Best Buy Co. It trades about 0.04 of its potential returns per unit of risk. Best Buy Co is currently generating about 0.0 per unit of risk. If you would invest  1,264  in Lands End on August 19, 2019 and sell it today you would earn a total of  83.00  from holding Lands End or generate 6.57% return on investment over 30 days.

Pair Corralation between Lands End and Best Buy

0.26
Time Period3 Months [change]
DirectionPositive 
StrengthVery Weak
Accuracy98.44%
ValuesDaily Returns

Diversification Opportunities for Lands End and Best Buy

Lands End Inc diversification synergy

Modest diversification

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


 
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