Correlation Analysis Between Best Buy and 1 800

This module allows you to analyze existing cross correlation between Best Buy Co and 1 800 FLOWERS COM. You can compare the effects of market volatilities on Best Buy and 1 800 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 Best Buy with a short position of 1 800. See also your portfolio center. Please also check ongoing floating volatility patterns of Best Buy and 1 800.
Horizon     30 Days    Login   to change
Symbolsvs
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Comparative Performance

Best Buy  
88

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Best Buy Co are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days. Inspite fairly inconsistent basic indicators, Best Buy showed solid returns over the last few months and may actually be approaching a breakup point.
1 800 FLOWERS  
00

Risk-Adjusted Performance

Over the last 30 days 1 800 FLOWERS COM has generated negative risk-adjusted returns adding no value to investors with long positions. In defiance of inconsistent performance in the last few months, the Stock's forward-looking signals remain relatively invariable which may send shares a bit higher in December 2019. The latest agitation may also be a sign of long running up-swing for the enterprise management.

Best Buy and 1 800 Volatility Contrast

 Predicted Return Density 
      Returns 

Best Buy Co Inc  vs.  1 800 FLOWERS COM Inc

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, Best Buy Co is expected to generate 0.66 times more return on investment than 1 800. However, Best Buy Co is 1.51 times less risky than 1 800. It trades about 0.13 of its potential returns per unit of risk. 1 800 FLOWERS COM is currently generating about -0.19 per unit of risk. If you would invest  6,626  in Best Buy Co on October 18, 2019 and sell it today you would earn a total of  1,083  from holding Best Buy Co or generate 16.34% return on investment over 30 days.

Pair Corralation between Best Buy and 1 800

-0.57
Time Period3 Months [change]
DirectionNegative 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Best Buy and 1 800

Best Buy Co Inc diversification synergy

Excellent diversification

Overlapping area represents the amount of risk that can be diversified away by holding Best Buy Co Inc and 1 800 FLOWERS COM Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on 1 800 FLOWERS and Best Buy 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 Best Buy Co are associated (or correlated) with 1 800. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of 1 800 FLOWERS has no effect on the direction of Best Buy i.e. Best Buy and 1 800 go up and down completely randomly.
See also your portfolio center. Please also try Coins and Tokens Correlation module to utilize digital token correlation table to build portfolio of cryptocurrencies across multiple exchanges.


 
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