Correlation Analysis Between Dollar General and Burlington Stores

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

Comparative Performance

Dollar General  
99

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Dollar General Corporation are ranked lower than 9 (%) of all global equities and portfolios over the last 30 days. In spite of rather weak fundamental drivers, Dollar General exhibited solid returns over the last few months and may actually be approaching a breakup point.
Burlington Stores  
55

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Burlington Stores are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days. Even with considerably unsteady technical indicators, Burlington Stores revealed solid returns over the last few months and may actually be approaching a breakup point.

Dollar General and Burlington Stores Volatility Contrast

 Predicted Return Density 
      Returns 

Dollar General Corp.  vs.  Burlington Stores Inc

 Performance (%) 
      Timeline 

Pair Volatility

Allowing for the 30-days total investment horizon, Dollar General Corporation is expected to generate 0.61 times more return on investment than Burlington Stores. However, Dollar General Corporation is 1.64 times less risky than Burlington Stores. It trades about 0.14 of its potential returns per unit of risk. Burlington Stores is currently generating about 0.08 per unit of risk. If you would invest  13,673  in Dollar General Corporation on August 17, 2019 and sell it today you would earn a total of  2,105  from holding Dollar General Corporation or generate 15.4% return on investment over 30 days.

Pair Corralation between Dollar General and Burlington Stores

1.0
Time Period3 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Dollar General and Burlington Stores

Dollar General Corp. diversification synergy

No risk reduction

Overlapping area represents the amount of risk that can be diversified away by holding Dollar General Corp. and Burlington Stores Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Burlington Stores and Dollar General 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 Dollar General Corporation are associated (or correlated) with Burlington Stores. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Burlington Stores has no effect on the direction of Dollar General i.e. Dollar General and Burlington Stores 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.


 
Search macroaxis.com