Correlation Analysis Between Best Buy and Five Below

This module allows you to analyze existing cross correlation between Best Buy Co and Five Below. You can compare the effects of market volatilities on Best Buy and Five Below 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 Five Below. See also your portfolio center. Please also check ongoing floating volatility patterns of Best Buy and Five Below.
Horizon     30 Days    Login   to change
Symbolsvs
Check Efficiency

Comparative Performance

Best Buy  
11

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Best Buy Co are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days. Inspite fairly strong basic indicators, Best Buy is not utilizing all of its potentials. The prevailing stock price disturbance, may contribute to short term losses for the investors.
Five Below  
11

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Five Below are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days. In spite of rather sound fundamental drivers, Five Below is not utilizing all of its potentials. The prevailing stock price tumult, may contribute to shorter-term losses for the shareholders.

Best Buy and Five Below Volatility Contrast

 Predicted Return Density 
      Returns 

Best Buy Co Inc  vs.  Five Below Inc

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, Best Buy is expected to generate 1.02 times less return on investment than Five Below. But when comparing it to its historical volatility, Best Buy Co is 1.01 times less risky than Five Below. It trades about 0.02 of its potential returns per unit of risk. Five Below is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest  13,070  in Five Below on August 16, 2019 and sell it today you would earn a total of  123.00  from holding Five Below or generate 0.94% return on investment over 30 days.

Pair Corralation between Best Buy and Five Below

0.96
Time Period3 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Best Buy and Five Below

Best Buy Co Inc diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding Best Buy Co Inc and Five Below Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Five Below 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 Five Below. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Five Below has no effect on the direction of Best Buy i.e. Best Buy and Five Below go up and down completely randomly.
See also your portfolio center. Please also try Volatility Analysis module to get historical volatility and risk analysis based on latest market data.


 
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