Do you worry about stock market volatility? If so, one idea is to consider a stock's recent trading volatility. We ran a screen with that idea in mind.

We began by screening the large-cap sector for low-volatility stocks, with average intra-day volatility over the last month under 2% (meaning, on average, these stocks have traded within a 2% range each day).

We then screened that universe for those that appear undervalued relative to the Graham Number. The Graham Number is a measure of maximum fair value 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.

For an interactive version of this chart, click on the image below. Analyst ratings sourced from Zacks Investment Research.

Tool provided by Kapitall. More investing ideas on Kapitall Wire.

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

List sorted by potential upside implied by the Graham Number.

* 1. Northrop Grumman Corporation* (NOC): Provides products, services, and solutions in aerospace, electronics, information systems, shipbuilding, and technical service sectors. Market cap at $16.5B, most recent closing price at $66.56. Average intra-day volatility over the last month at 1.57%. Diluted TTM earnings per share at 7.78, and a MRQ book value per share value at 43.2, implies a Graham Number fair value = sqrt(22.5*7.78*43.2) = $86.96. Based on the stock's price at $65.8, this implies a potential upside of 32.16% from current levels.

* 2. Loews Corporation* (L): Operates primarily as a commercial property and casualty insurance company in the United States. Market cap at $15.66B, most recent closing price at $40.15. Average intra-day volatility over the last month at 1.54%. Diluted TTM earnings per share at 2.62, and a MRQ book value per share value at 48.96, implies a Graham Number fair value = sqrt(22.5*2.62*48.96) = $53.72. Based on the stock's price at $41.7, this implies a potential upside of 28.83% from current levels.

* 3. Chevron Corporation* (CVX): Engages in petroleum, chemicals, mining, power generation, and energy operations worldwide. Market cap at $215.51B, most recent closing price at $111.28. Average intra-day volatility over the last month at 1.63%. Diluted TTM earnings per share at 13.62, and a MRQ book value per share value at 63.61, implies a Graham Number fair value = sqrt(22.5*13.62*63.61) = $139.62. Based on the stock's price at $109.26, this implies a potential upside of 27.79% from current levels.

* 4. Energy Transfer Partners LP* (ETP): Engages in the natural gas midstream, and intrastate transportation and storage businesses in the United States. Market cap at $10.59B, most recent closing price at $43.99. Average intra-day volatility over the last month at 1.27%. Diluted TTM earnings per share at 4.99, and a MRQ book value per share value at 28.55, implies a Graham Number fair value = sqrt(22.5*4.99*28.55) = $56.62. Based on the stock's price at $45.46, this implies a potential upside of 24.54% from current levels.

* 5. Wells Fargo & Company* (WFC): Provides retail, commercial, and corporate banking services primarily in the United States. Market cap at $177.17B, most recent closing price at $34.0. Average intra-day volatility over the last month at 1.81%. Diluted TTM earnings per share at 3.02, and a MRQ book value per share value at 26.08, implies a Graham Number fair value = sqrt(22.5*3.02*26.08) = $42.10. Based on the stock's price at $34.15, this implies a potential upside of 23.27% from current levels.

* 6. The Allstate Corporation* (ALL): Engages in the personal property and casualty insurance, life insurance, retirement, and investment products businesses primarily in the United States. Market cap at $17.95B, most recent closing price at $36.98. Average intra-day volatility over the last month at 1.68%. Diluted TTM earnings per share at 2.01, and a MRQ book value per share value at 38.91, implies a Graham Number fair value = sqrt(22.5*2.01*38.91) = $41.95. Based on the stock's price at $34.73, this implies a potential upside of 20.79% from current levels.

* 7. PPL Corporation* (PPL): Generates and sells electricity; and delivers natural gas to approximately 5.3 million utility customers primarily in the northeastern and northwestern US. Market cap at $16.58B, most recent closing price at $28.71. Average intra-day volatility over the last month at 1.13%. Diluted TTM earnings per share at 2.83, and a MRQ book value per share value at 19.44, implies a Graham Number fair value = sqrt(22.5*2.83*19.44) = $35.18. Based on the stock's price at $29.17, this implies a potential upside of 20.61% from current levels.

* 8. The Chubb Corporation* (CB): Provides property and casualty insurance to businesses and individuals. Market cap at $19.64B, most recent closing price at $73.40. Average intra-day volatility over the last month at 1.59%. Diluted TTM earnings per share at 5.86, and a MRQ book value per share value at 57.38, implies a Graham Number fair value = sqrt(22.5*5.86*57.38) = $86.98. Based on the stock's price at $72.32, this implies a potential upside of 20.27% from current levels.

* 9. BB&T Corporation* (BBT): Operates as the financial holding company for Branch Banking and Trust Company that provides banking and trust services to small and mid-size businesses, public agencies, local governments, and individuals in the United States. Market cap at $21.71B, most recent closing price at $31.78. Average intra-day volatility over the last month at 1.63%. Diluted TTM earnings per share at 2.4, and a MRQ book value per share value at 26.19, implies a Graham Number fair value = sqrt(22.5*2.4*26.19) = $37.61. Based on the stock's price at $32.4, this implies a potential upside of 16.07% 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.