This module allows you to analyze existing cross correlation between Alcoa Corporation and Best Buy Co. You can compare the effects of market volatilities on Alcoa 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 Alcoa with a short position of Best Buy. See also your portfolio center. Please also check ongoing floating volatility patterns of Alcoa and Best Buy.
|Time Horizon||30 Days Login to change|
Alcoa Corp. vs. Best Buy Co Inc
Allowing for the 30-days total investment horizon, Alcoa Corporation is expected to under-perform the Best Buy. But the stock apears to be less risky and, when comparing its historical volatility, Alcoa Corporation is 1.07 times less risky than Best Buy. The stock trades about -0.14 of its potential returns per unit of risk. The Best Buy Co is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest 7,595 in Best Buy Co on May 23, 2018 and sell it today you would earn a total of 20.00 from holding Best Buy Co or generate 0.26% return on investment over 30 days.