Box Correlations

BOX Stock

USD 29.91 0.50 1.64%

The current 90-days correlation between Box Inc and Qualys Inc is 0.23 (i.e., Modest diversification). The correlation of Box 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.

Box Correlation With Market

Modest diversification

The correlation between Box Inc and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Box Inc and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Box Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Box Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Box Stock

0.83	DT	Dynatrace Holdings LLC	Pair Corr
0.79	JG	Aurora Mobile	Pair Corr
0.72	PD	Pagerduty	Pair Corr
0.74	QH	Quhuo	Pair Corr
0.82	VS	Versus Systems	Pair Corr
0.67	DSG	Dillistone Group	Pair Corr
0.64	688078	Beijing LongRuan Tec	Pair Corr
0.74	DMRC	Digimarc	Pair Corr
0.72	DOMO	Domo Inc	Pair Corr
0.79	002410	Glodon Software	Pair Corr
0.81	VERX	Vertex	Pair Corr
0.69	DSGX	Descartes Systems	Pair Corr
0.63	600588	Yonyou Network Technology	Pair Corr
0.83	VRAR	Glimpse Group	Pair Corr
0.72	603383	Fujian Apex Software	Pair Corr

Moving against Box Stock

0.62	BL	Blackline	Pair Corr
0.59	U	Unity Software	Pair Corr
0.5	BGE	Bridge Saas	Pair Corr
0.39	ZM	Zoom Video Communications Sell-off Trend	Pair Corr
0.36	NN	Nextnav Acquisition Corp	Pair Corr
0.54	DTST	Data Storage Corp	Pair Corr
0.52	300036	Beijing SuperMap Software	Pair Corr
0.49	RM	RM Plc	Pair Corr
0.4	DUOT	Duos Technologies Downward Rally	Pair Corr
0.79	MKT	DeepMarkit Corp	Pair Corr
0.65	ELWS	Earlyworks Co, Trending	Pair Corr
0.39	VMEO	Vimeo Inc	Pair Corr

Related Correlations Analysis

	QLYS	ACIW	WEX	DLO	STNE	CLSK	DOCN	BDC	OS	OSIS
QLYS		-0.51	-0.36	-0.53	-0.6	-0.6	0.78	0.22	0.49	0.54	QLYS
ACIW	-0.51		0.68	0.47	0.53	0.48	-0.66	0.07	-0.3	-0.42	ACIW
WEX	-0.36	0.68		0.56	0.32	0.44	-0.45	0.54	-0.51	-0.38	WEX
DLO	-0.53	0.47	0.56		0.54	0.71	-0.32	0.31	-0.43	-0.18	DLO
STNE	-0.6	0.53	0.32	0.54		0.7	-0.7	0.03	-0.04	-0.21	STNE
CLSK	-0.6	0.48	0.44	0.71	0.7		-0.51	0.06	-0.41	-0.27	CLSK
DOCN	0.78	-0.66	-0.45	-0.32	-0.7	-0.51		0.15	0.37	0.69	DOCN
BDC	0.22	0.07	0.54	0.31	0.03	0.06	0.15		-0.24	0.22	BDC
OS	0.49	-0.3	-0.51	-0.43	-0.04	-0.41	0.37	-0.24		0.52	OS
OSIS	0.54	-0.42	-0.38	-0.18	-0.21	-0.27	0.69	0.22	0.52		OSIS
	QLYS	ACIW	WEX	DLO	STNE	CLSK	DOCN	BDC	OS	OSIS

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

DOCN	+ 0.78	QLYS
CLSK	+ 0.71	DLO
CLSK	+ 0.7	STNE
OSIS	+ 0.69	DOCN
WEX	+ 0.68	ACIW
DLO	+ 0.56	WEX

High negative correlations

DOCN	- 0.7	STNE
DOCN	- 0.66	ACIW
CLSK	- 0.6	QLYS
STNE	- 0.6	QLYS
DLO	- 0.53	QLYS
DOCN	- 0.51	CLSK

Risk-Adjusted Indicators

There is a big difference between Box Stock performing well and Box Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Box's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
QLYS	1.54	(0.05)	(0.03)	0.01	1.87	(1.78)	2.52	(3.12)	25.56
ACIW	1.13	(0.17)	0.00	(0.16)	0.00	0.00	2.08	(3.02)	8.25
WEX	1.30	(0.16)	0.00	(0.07)	0.00	0.00	2.74	(2.82)	6.48
DLO	1.93	(0.14)	(0.02)	0.00	2.90	(1.88)	4.19	(4.02)	17.44
STNE	2.23	(0.38)	0.00	(0.18)	0.00	0.00	4.17	(6.68)	16.52
CLSK	5.29	(0.34)	0.00	(0.03)	0.00	0.00	12.27	(10.13)	33.02
DOCN	2.87	0.47	0.17	0.37	2.62	(3.42)	7.17	(4.19)	24.58
BDC	1.20	(0.15)	0.00	(0.05)	0.00	0.00	2.42	(3.32)	10.00
OS	2.71	(0.10)	0.00	(0.01)	0.00	0.00	5.27	(5.12)	29.57
OSIS	1.91	0.07	0.06	0.09	2.18	(2.05)	4.28	(3.74)	20.11

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