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Correlation Between Angel Fibers and Best Buy

Analyzing existing cross correlation between Angel Fibers Limited and Best Buy Co. You can compare the effects of market volatilities on Angel Fibers 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 Angel Fibers with a short position of Best Buy. Check out your portfolio center. Please also check ongoing floating volatility patterns of Angel Fibers and Best Buy.

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Diversification Opportunities for Angel Fibers and Best Buy

Angel Fibers Limited diversification synergy
0.0
ANG
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Pay attention - limited upside

The 3 months correlation between Angel and Best Buy is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Angel Fibers Limited 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 Angel Fibers 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 Angel Fibers Limited 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 Angel Fibers i.e. Angel Fibers and Best Buy go up and down completely randomly.

Pair Corralation between Angel Fibers and Best Buy

If you would invest (100.00)  in Angel Fibers Limited on March 3, 2020 and sell it today you would earn a total of  100.00  from holding Angel Fibers Limited or generate -100.0% return on investment over 30 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

Angel Fibers Limited  vs.  Best Buy Co Inc

 Performance (%) 
    
  Timeline 
Angel Fibers Limited 
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Angel Fibers Risk-Adjusted Performance

Over the last 30 days Angel Fibers Limited has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, Angel Fibers is not utilizing all of its potentials. The existing stock price disturbance, may contribute to short term losses for the investors.
Best Buy 
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Best Buy 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. Inspite abnormal performance in the last few months, the Stock's basic indicators remain fairly strong which may send shares a bit higher in May 2020. The current disturbance may also be a sign of long term up-swing for the company investors.

Angel Fibers and Best Buy Volatility Contrast

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