Best Buy Correlations
| BBY Stock | USD 75.04 0.08 0.11% |
The correlation of Best Buy is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Best Buy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Best Buy Co moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Very weak diversification
The correlation between Best Buy Co and NYA is 0.59 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Best Buy Co and NYA in the same portfolio, assuming nothing else is changed.
Best |
The ability to find closely correlated positions to Best Buy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Best Buy when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Best Buy - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Best Buy Co to buy it.
Moving together with Best Stock
| 0.83 | AN | AutoNation Earnings Call This Week | PairCorr |
| 0.62 | DBI | Designer Brands Upward Rally | PairCorr |
| 0.79 | KMX | CarMax Inc Financial Report 28th of June 2024 | PairCorr |
| 0.89 | DORM | Dorman Products Financial Report 7th of May 2024 | PairCorr |
| 0.79 | WING | Wingstop Earnings Call This Week | PairCorr |
| 0.89 | BLD | Topbuild Corp Financial Report 2nd of May 2024 | PairCorr |
| 0.81 | CMG | Chipotle Mexican Grill Earnings Call Today | PairCorr |
| 0.86 | DFH | Dream Finders HomesInc Financial Report 2nd of May 2024 | PairCorr |
| 0.77 | DPZ | Dominos Pizza Earnings Call This Week | PairCorr |
Moving against Best Stock
| 0.54 | MCD | McDonalds Earnings Call This Week | PairCorr |
| 0.53 | BIG | Big Lots Downward Rally | PairCorr |
| 0.46 | WNW | Meiwu Technology Report 10th of May 2024 | PairCorr |
| 0.65 | NKE | Nike Inc Sell-off Trend | PairCorr |
| 0.64 | PZZA | Papa Johns International Financial Report 2nd of May 2024 | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Correlation Matchups
Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.High positive correlations
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between Best Stock performing well and Best Buy Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Best Buy's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| TGT | 1.29 | 0.24 | 0.19 | 0.34 | 1.05 | 2.39 | 15.06 | |||
| WMT | 0.62 | 0.13 | 0.10 | 0.51 | 0.47 | 1.46 | 4.93 | |||
| AQUI | 1.32 | 0.62 | 0.00 | 0.99 | 0.00 | 0.00 | 25.00 | |||
| LBHIX | 0.18 | (0.03) | (0.25) | (0.04) | 0.22 | 0.48 | 1.21 | |||
| MSTSX | 0.45 | 0.05 | (0.04) | 8.45 | 0.61 | 0.98 | 3.20 | |||
| VIASP | 1.42 | 0.13 | 0.07 | 0.21 | 1.92 | 3.60 | 13.41 | |||
| RRTLX | 0.25 | 0.02 | (0.16) | 0.84 | 0.26 | 0.51 | 1.46 | |||
| OSHDF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| 70082LAB3 | 1.00 | (0.15) | 0.00 | 0.59 | 0.00 | 1.52 | 17.58 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Best Buy without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
Run Equity Valuation Now
Equity ValuationCheck real value of public entities based on technical and fundamental data |
| All Next | Launch Module |
Best Buy Corporate Directors
Best Buy corporate directors refer to members of a Best Buy board of directors. The board of directors generally takes responsibility for the Best Buy's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Best Buy's board members must vote for the resolution. The Best Buy board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| Gerard Vittecoq | Independent Director | Profile | |
| J Doyle | Director | Profile | |
| Claudia Munce | Independent Director | Profile | |
| Karen McLoughlin | Independent Director | Profile |
Already Invested in Best Buy Co?
The danger of trading Best Buy Co is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Best Buy is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Best Buy. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Best Buy is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Best Buy offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Best Buy's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Best Buy Co Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Best Buy Co Stock: Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Best Buy Co. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in bureau of labor statistics. Note that the Best Buy information on this page should be used as a complementary analysis to other Best Buy's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
Complementary Tools for Best Stock analysis
When running Best Buy's price analysis, check to measure Best Buy's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Best Buy is operating at the current time. Most of Best Buy's value examination focuses on studying past and present price action to predict the probability of Best Buy's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Best Buy's price. Additionally, you may evaluate how the addition of Best Buy to your portfolios can decrease your overall portfolio volatility.
| Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments | |
| ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments | |
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| Earnings Calls Check upcoming earnings announcements updated hourly across public exchanges | |
| Volatility Analysis Get historical volatility and risk analysis based on latest market data | |
| Balance Of Power Check stock momentum by analyzing Balance Of Power indicator and other technical ratios |
Is Best Buy's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Best Buy. If investors know Best will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Best Buy listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.05) | Dividend Share 3.68 | Earnings Share 5.68 | Revenue Per Share 199.596 | Quarterly Revenue Growth (0.01) |
The market value of Best Buy is measured differently than its book value, which is the value of Best that is recorded on the company's balance sheet. Investors also form their own opinion of Best Buy's value that differs from its market value or its book value, called intrinsic value, which is Best Buy's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Best Buy's market value can be influenced by many factors that don't directly affect Best Buy's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Best Buy's value and its price as these two are different measures arrived at by different means. Investors typically determine if Best Buy is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Best Buy's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.