Yes you can install multiple versions of Visual studio side by side.But install the lower versions first.
If you use Visual Studio 2013 to open a solution that was created in Visual Studio 2012 or Visual Studio 2010 with Service Pack 1 (SP1), you can later open and modify the solution again in the older version as long as you haven't implemented any features that are specific to Visual Studio 2013.
So take care about backward compatibility.Refer this for more info.