Do you worry about risk when considering stocks? One idea is to consider a stock's historical volatility.

We ran a screen on large-cap stocks, with market caps above $10 billion, for those with low average intra-day volatility over the last month. We screened for stocks that have traded within an average of plus/minus 1.5% range or lower over the last month.

Of course, past performance does not guarantee future returns.

We then screened for those stocks that appear undervalued relative to the Graham Number, a measure of maximum fair value for a stock created by the "godfather of value investing" Benjamin Graham.It is based off of a stock's EPS and book value per share (BVPS).

Graham Number = SQRT(22.5 x TTM EPS x MRQ BVPS)

The equation assumes that P/E should not be higher than 15 and P/BV should not be higher than 1.5. Stocks trading well below their Graham Number may be undervalued.

*Interactive Chart: Press Play to compare changes in analyst ratings over the last two years for the top six stocks mentioned below. Analyst ratings sourced from Zacks Investment Research.*

Do you think these stocks offer less risk? Use this list as a starting point for your own analysis.

** 1. The Chubb Corporation (NYSE:CB):** Provides property and casualty insurance to businesses and individuals. Average intra-day volatility over the last month at 1.29%. Diluted TTM earnings per share at 5.76, and a MRQ book value per share value at 57.16, implies a Graham Number fair value = sqrt(22.5*5.76*57.16) = $86.07. Based on the stock's price at $69.17, this implies a potential upside of 24.43% from current levels.

** 2. ConocoPhillips (NYSE:COP):** Operates as an integrated energy company worldwide. Average intra-day volatility over the last month at 1.23%. Diluted TTM earnings per share at 8.97, and a MRQ book value per share value at 50.73, implies a Graham Number fair value = sqrt(22.5*8.97*50.73) = $101.19. Based on the stock's price at $77.76, this implies a potential upside of 30.13% from current levels.

** 3. Chevron Corp. (NYSE:CVX):** Engages in petroleum, chemicals, mining, power generation, and energy operations worldwide. Average intra-day volatility over the last month at 1.25%. Diluted TTM earnings per share at 13.44, and a MRQ book value per share value at 61.27, implies a Graham Number fair value = sqrt(22.5*13.44*61.27) = $136.12. Based on the stock's price at $111.19, this implies a potential upside of 22.42% from current levels.

** 4. Entergy Corporation (NYSE:ETR):** Operates as an integrated energy company in the United States. Average intra-day volatility over the last month at 1.18%. Diluted TTM earnings per share at 7.55, and a MRQ book value per share value at 50.81, implies a Graham Number fair value = sqrt(22.5*7.55*50.81) = $92.91. Based on the stock's price at $68.5, this implies a potential upside of 35.63% from current levels.

** 5. Loews Corporation (NYSE:L):** Operates primarily as a commercial property and casualty insurance company in the United States. Average intra-day volatility over the last month at 1.25%. Diluted TTM earnings per share at 2.63, and a MRQ book value per share value at 47.49, implies a Graham Number fair value = sqrt(22.5*2.63*47.49) = $53.01. Based on the stock's price at $39.3, this implies a potential upside of 34.89% from current levels.

* 6. Northrop Grumman Corporation (NYSE:NOC):* Provides products, services, and solutions in aerospace, electronics, information systems, shipbuilding, and technical service sectors. Average intra-day volatility over the last month at 1.21%. Diluted TTM earnings per share at 7.52, and a MRQ book value per share value at 40.71, implies a Graham Number fair value = sqrt(22.5*7.52*40.71) = $82.99. Based on the stock's price at $61.54, this implies a potential upside of 34.86% from current levels.

** 7. Public Service Enterprise Group Inc. (NYSE:PEG):** Operates in the energy industry primarily in the northeastern and mid Atlantic United States. Average intra-day volatility over the last month at 1.44%. Diluted TTM earnings per share at 2.96, and a MRQ book value per share value at 20.3, implies a Graham Number fair value = sqrt(22.5*2.96*20.3) = $36.77. Based on the stock's price at $30.49, this implies a potential upside of 20.59% from current levels.

** 8. PPL Corporation (NYSE:PPL):** Generates and sells electricity; and delivers natural gas to approximately 5.3 million utility customers primarily in the northeastern and northwestern US. Average intra-day volatility over the last month at 1.19%. Diluted TTM earnings per share at 2.7, and a MRQ book value per share value at 18.72, implies a Graham Number fair value = sqrt(22.5*2.7*18.72) = $33.72. Based on the stock's price at $28.38, this implies a potential upside of 18.83% from current levels.

* 9. Sempra Energy (NYSE:SRE):* Engages in the development of energy infrastructure, operation of utilities, and provision of energy-related products and services worldwide. Average intra-day volatility over the last month at 1.30%. Diluted TTM earnings per share at 5.62, and a MRQ book value per share value at 41.01, implies a Graham Number fair value = sqrt(22.5*5.62*41.01) = $72.01. Based on the stock's price at $59.95, this implies a potential upside of 20.12% from current levels.

** 10. The Travelers Companies, Inc. (NYSE:TRV):** Provides various commercial and personal property and casualty insurance products and services to businesses, government units, associations, and individuals primarily in the United States. Average intra-day volatility over the last month at 1.48%. Diluted TTM earnings per share at 3.37, and a MRQ book value per share value at 62.31, implies a Graham Number fair value = sqrt(22.5*3.37*62.31) = $68.74. Based on the stock's price at $58.41, this implies a potential upside of 17.68% from current levels.

*BVPS and EPS data sourced from Yahoo! Finance, all other data sourced from Finviz.

**Disclosure: **I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.