This module allows you to analyze existing cross correlation between Alcoa Corporation and CVS Health Corporation. You can compare the effects of market volatilities on Alcoa and CVS Health 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 CVS Health. See also your portfolio center. Please also check ongoing floating volatility patterns of Alcoa and CVS Health.
|Time Horizon||30 Days Login to change|
Alcoa Corp. vs. CVS Health Corp.
Allowing for the 30-days total investment horizon, Alcoa Corporation is expected to under-perform the CVS Health. In addition to that, Alcoa is 1.03 times more volatile than CVS Health Corporation. It trades about -0.08 of its total potential returns per unit of risk. CVS Health Corporation is currently generating about 0.29 per unit of volatility. If you would invest 6,480 in CVS Health Corporation on May 26, 2018 and sell it today you would earn a total of 738.00 from holding CVS Health Corporation or generate 11.39% return on investment over 30 days.