Correlation Analysis Between ATT and Best Buy

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

Comparative Performance

ATT  
0

Risk-Adjusted Performance

Over the last 30 days ATT has generated negative risk-adjusted returns adding no value to investors with long positions.
Best Buy  
0

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.

ATT and Best Buy Volatility Contrast

 Predicted Return Density 
      Returns 

ATT  vs.  Best Buy Co Inc

 Performance (%) 
      Timeline 

Pair Volatility

Taking into account the 30 trading days horizon, ATT is expected to generate 0.68 times more return on investment than Best Buy. However, ATT is 1.48 times less risky than Best Buy. It trades about -0.11 of its potential returns per unit of risk. Best Buy Co is currently generating about -0.28 per unit of risk. If you would invest  3,267  in ATT on November 19, 2018 and sell it today you would lose (292.00)  from holding ATT or give up 8.94% of portfolio value over 30 days.

Pair Corralation between ATT and Best Buy

0.59
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for ATT and Best Buy

ATT diversification synergy

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding ATT 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 ATT 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 ATT 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 ATT i.e. ATT and Best Buy go up and down completely randomly.

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 Bollinger Bands module to use bollinger bands indicator to analyze target price for a given investing horizon.


 
Search macroaxis.com