This module allows you to analyze existing cross correlation between Alcoa Inc and CVS Health Corporation. You can compare the effects of market volatilities on Alcoa and CVS Health 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 CVS Health. See also your portfolio center. Please also check ongoing floating volatility patterns of Alcoa and CVS Health.
|Investment Horizon||30 Days Login to change|
Allowing for the 30-days total investment horizon, Alcoa Inc is expected to generate 3.73 times more return on investment than CVS Health. However, Alcoa is 3.73 times more volatile than CVS Health Corporation. It trades about 0.08 of its potential returns per unit of risk. CVS Health Corporation is currently generating about 0.27 per unit of risk. If you would invest 3,291 in Alcoa Inc on March 29, 2017 and sell it today you would earn a total of 161.00 from holding Alcoa Inc or generate 4.89% return on investment over 30 days.