Correlation Analysis Between International Business and Best Buy

This module allows you to analyze existing cross correlation between International Business Machines Corporation and Best Buy Co. You can compare the effects of market volatilities on International Business and Best Buy 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 International Business with a short position of Best Buy. See also your portfolio center. Please also check ongoing floating volatility patterns of International Business and Best Buy.
 Time Horizon     30 Days    Login   to change

International Business Machine  vs.  Best Buy Co Inc

 Performance (%) 

Pair Volatility

If you would invest  7,611  in Best Buy Co on July 20, 2018 and sell it today you would earn a total of  237.00  from holding Best Buy Co or generate 3.11% return on investment over 30 days.

Pair Corralation between International Business and Best Buy

Time Period1 Month [change]
ValuesDaily Returns


Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding International Business Machine and Best Buy Co Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Best Buy Co and International Business 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 International Business Machines Corporation are associated (or correlated) with Best Buy. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Best Buy Co has no effect on the direction of International Business i.e. International Business and Best Buy go up and down completely randomly.

Comparative Volatility

International Business  

Risk-Adjusted Performance

Over the last 30 days International Business Machines Corporation has generated negative risk-adjusted returns adding no value to investors with long positions.
Best Buy Co  

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Best Buy Co are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.

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