| BBY Stock | | | USD 73.79 0.66 0.90% |
The current 90-days correlation between Best Buy and Lowes Companies is 0.55 (i.e., Very weak diversification). The correlation of Best Buy is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.
Best Buy Correlation With Market
Very weak diversification
The correlation between Best Buy Co and DJI is 0.45 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Best Buy Co and DJI in the same portfolio, assuming nothing else is changed.
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signals in bureau of labor statistics.