This module allows you to analyze existing cross correlation between Alcoa Corporation and The Home Depot. You can compare the effects of market volatilities on Alcoa and Home Depot 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 Home Depot. See also your portfolio center. Please also check ongoing floating volatility patterns of Alcoa and Home Depot.
|Time Horizon||30 Days Login to change|
Alcoa Corp. vs. The Home Depot Inc
Allowing for the 30-days total investment horizon, Alcoa Corporation is expected to under-perform the Home Depot. In addition to that, Alcoa is 2.47 times more volatile than The Home Depot. It trades about -0.16 of its total potential returns per unit of risk. The Home Depot is currently generating about 0.31 per unit of volatility. If you would invest 18,715 in The Home Depot on May 24, 2018 and sell it today you would earn a total of 1,026 from holding The Home Depot or generate 5.48% return on investment over 30 days.