Correlation Analysis Between Rite Aid and Aarons

This module allows you to analyze existing cross correlation between Rite Aid Corporation and Aarons. You can compare the effects of market volatilities on Rite Aid and Aarons 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 Rite Aid with a short position of Aarons. See also your portfolio center. Please also check ongoing floating volatility patterns of Rite Aid and Aarons.
 Time Horizon     30 Days    Login   to change
Symbolsvs

Rite Aid Corp.  vs.  Aarons Inc

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, Rite Aid Corporation is expected to under-perform the Aarons. In addition to that, Rite Aid is 2.41 times more volatile than Aarons. It trades about -0.08 of its total potential returns per unit of risk. Aarons is currently generating about 0.07 per unit of volatility. If you would invest  4,518  in Aarons on June 21, 2018 and sell it today you would earn a total of  92.00  from holding Aarons or generate 2.04% return on investment over 30 days.

Pair Corralation between Rite Aid and Aarons

0.23
Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Modest diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Rite Aid  
0 

Risk-Adjusted Performance

Over the last 30 days Rite Aid Corporation has generated negative risk-adjusted returns adding no value to investors with long positions.
Aarons  
4 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Aarons are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.

My Equities

My Current Equities and Potential Positions
View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$0.0
Alphabet cannot be verified against its exchange. It appears that Alphabet is not available for investing at this time. Please verify the symbol is currently traded on NASDAQ. If you still believe the symbol you are trying to look up is valid please let us know and we will check it as soon as possible.

Try Other Suggestions

GTVJXGoldman Sachs Target Date 2030Fund
GTVMXGoldman Sachs Target Date 2040Fund
GTVOXGoldman Sachs Target Date 2035Fund
GTVSXGoldman Sachs Target Date 2050Fund
FPPXXGovernment Obligations Fund ClFund
ELKMFGold Road Resources LimitedStock
GCGAXGoldman Sachs Concentrated GroFund

Thematic Opportunities

Explore Investment Opportunities
Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.


 
vendors/bower_components/jquery.easy-pie-chart/dist/jquery.easypiechart.min.js">