Pair Correlation Between Macys Inc and BonTon Stores

Investment Horizon     30 Days    Login   to change
This module allows you to analyze existing cross correlation between Macys Inc and BonTon Stores Inc. You can compare the effects of market volatilities on Macys Inc and BonTon Stores 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 Macys Inc with a short position of BonTon Stores. Please also check ongoing floating volatility patterns of Macys Inc and BonTon Stores.
 Macys Inc.  vs   BonTon Stores Inc.
Daily Returns (%)
BONT   M   
Benchmark  Embed   Timeline 
Taking into account the 30 trading days horizon, Macys Inc is expected to under-perform the BonTon Stores. But the stock apears to be less risky and, when comparing its historical volatility, Macys Inc is 4.45 times less risky than BonTon Stores. The stock trades about -0.25 of its potential returns per unit of risk. The BonTon Stores Inc is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest  302.00  in BonTon Stores Inc on October 29, 2015 and sell it today you would lose (23.00) from holding BonTon Stores Inc or give up 7.62% of portfolio value over 30 days.

Correlation Coefficient



Time Period1 Month [change]
ValuesDaily Returns


Average diversification

Overlapping area represents amount of risk that can be diversified away by holding Macys Inc. and BonTon Stores Inc. in the same portfolio assuming nothing else is changed

Historical Performance Chart

Comparative Volatility

Predicted Return Density  
Benchmark  Embed   Returns 

Macys Inc


Risk-adjusted Performance

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

Pair trading matchups for Macys Inc


BonTon Stores


Risk-adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in BonTon Stores Inc are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.

Pair trading matchups for BonTon Stores