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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.

Source: 10 Low-Risk, Large-Cap Stocks Undervalued By The Graham Number