Correlation Analysis Between Big Lots and Dollar General

This module allows you to analyze existing cross correlation between Big Lots and Dollar General Corporation. You can compare the effects of market volatilities on Big Lots and Dollar General 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 Big Lots with a short position of Dollar General. See also your portfolio center. Please also check ongoing floating volatility patterns of Big Lots and Dollar General.
Horizon     30 Days    Login   to change
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Comparative Performance

Big Lots  
00

Risk-Adjusted Performance

Over the last 30 days Big Lots has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of fragile performance in the last few months, the Stock's fundamental drivers remain rather sound which may send shares a bit higher in October 2019. The ongoing tumult may also be a sign of longer-term up-swing for the firm shareholders.
Dollar General  
88

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Dollar General Corporation are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days. In spite of rather fragile fundamental drivers, Dollar General exhibited solid returns over the last few months and may actually be approaching a breakup point.

Big Lots and Dollar General Volatility Contrast

 Predicted Return Density 
      Returns 

Big Lots Inc  vs.  Dollar General Corp.

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, Big Lots is expected to under-perform the Dollar General. In addition to that, Big Lots is 1.57 times more volatile than Dollar General Corporation. It trades about -0.09 of its total potential returns per unit of risk. Dollar General Corporation is currently generating about 0.12 per unit of volatility. If you would invest  13,682  in Dollar General Corporation on August 22, 2019 and sell it today you would earn a total of  1,883  from holding Dollar General Corporation or generate 13.76% return on investment over 30 days.

Pair Corralation between Big Lots and Dollar General

-0.28
Time Period3 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Big Lots and Dollar General

Big Lots Inc diversification synergy

Very good diversification

Overlapping area represents the amount of risk that can be diversified away by holding Big Lots Inc and Dollar General Corp. in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Dollar General and Big Lots 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 Big Lots are associated (or correlated) with Dollar General. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dollar General has no effect on the direction of Big Lots i.e. Big Lots and Dollar General go up and down completely randomly.
See also your portfolio center. Please also try Companies Directory module to evaluate performance of over 100,000 stocks, funds, and etfs against different fundamentals.


 
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