This module allows you to analyze existing cross correlation between Reliance Steel Aluminum Co and Alcoa Corporation. You can compare the effects of market volatilities on Reliance Steel and Alcoa 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 Reliance Steel with a short position of Alcoa. See also your portfolio center. Please also check ongoing floating volatility patterns of Reliance Steel and Alcoa.
|Time Horizon||30 Days Login to change|
Reliance Steel Aluminum Co vs. Alcoa Corp.
Allowing for the 30-days total investment horizon, Reliance Steel Aluminum Co is expected to generate 0.48 times more return on investment than Alcoa. However, Reliance Steel Aluminum Co is 2.09 times less risky than Alcoa. It trades about 0.01 of its potential returns per unit of risk. Alcoa Corporation is currently generating about -0.23 per unit of risk. If you would invest 9,440 in Reliance Steel Aluminum Co on May 20, 2018 and sell it today you would earn a total of 9.00 from holding Reliance Steel Aluminum Co or generate 0.1% return on investment over 30 days.