Box Correlations

BOX Stock

USD 23.55 0.35 1.46%

The current 90-days correlation between Box Inc and Unity Software is 0.42 (i.e., Very weak 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

Excellent diversification

The correlation between Box Inc and DJI is -0.7 (i.e., Excellent 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 employment.

Moving together with Box Stock

0.91	U	Unity Software	Pair Corr
0.64	BGE	Bridge Saas	Pair Corr
0.68	9NY	BYTES TECHGRP LS	Pair Corr
0.94	BL	Blackline	Pair Corr
0.95	DT	Dynatrace Holdings LLC	Pair Corr
0.82	DV	DoubleVerify Holdings Earnings Call This Week	Pair Corr
0.83	35U	PAR TECHNOLOGY DL	Pair Corr
0.92	MQ	Marqeta Earnings Call This Week	Pair Corr
0.93	PD	Pagerduty	Pair Corr
0.81	VS	Versus Systems	Pair Corr
0.94	WK	Workiva Sell-off Trend	Pair Corr
0.61	MTLO	Martello Technologies	Pair Corr
0.9	DMRC	Digimarc Earnings Call This Week	Pair Corr
0.81	RM	RM Plc	Pair Corr
0.9	2TY	PagerDuty	Pair Corr
0.98	DOCU	DocuSign	Pair Corr
0.92	DOMO	Domo Inc Earnings Call This Week	Pair Corr
0.92	1Q5	Dropbox	Pair Corr
0.91	VERI	Veritone	Pair Corr
0.88	VERX	Vertex Tech Boost	Pair Corr
0.88	6NCA	NCINO INC DL	Pair Corr
0.91	DSGX	Descartes Systems	Pair Corr
0.93	LY0	Lyft Inc	Pair Corr
0.8	DTCX	Datacentrex Symbol Change	Pair Corr
0.78	0M5	Bill Holdings	Pair Corr

Moving against Box Stock

0.83	JG	Aurora Mobile	Pair Corr
0.42	XV7	SERESCO 16	Pair Corr
0.89	RNI	OXFORD METRICS LS	Pair Corr
0.85	60Z	UNIFIEDPOST GRP SANV	Pair Corr
0.7	DSG	Dillistone Group PLC	Pair Corr
0.6	TRB	Tribal Group plc	Pair Corr
0.57	LUS1	Lang Schwarz Aktieng	Pair Corr
0.84	89P	CLAVISTER HOLDING	Pair Corr

Related Correlations Analysis

	U	BGE	XV7	9NY	BL	DT	DV	JG	35U
U		0.62	-0.14	0.71	0.97	0.9	0.88	-0.67	0.94	U
BGE	0.62		-0.47	0.62	0.58	0.6	0.67	-0.65	0.57	BGE
XV7	-0.14	-0.47		-0.11	-0.17	-0.4	-0.16	0.57	-0.07	XV7
9NY	0.71	0.62	-0.11		0.72	0.61	0.73	-0.63	0.73	9NY
BL	0.97	0.58	-0.17	0.72		0.92	0.86	-0.71	0.91	BL
DT	0.9	0.6	-0.4	0.61	0.92		0.82	-0.71	0.82	DT
DV	0.88	0.67	-0.16	0.73	0.86	0.82		-0.6	0.83	DV
JG	-0.67	-0.65	0.57	-0.63	-0.71	-0.71	-0.6		-0.62	JG
35U	0.94	0.57	-0.07	0.73	0.91	0.82	0.83	-0.62		35U
	U	BGE	XV7	9NY	BL	DT	DV	JG	35U

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

BL	+ 0.97	U
35U	+ 0.94	U
DT	+ 0.92	BL
35U	+ 0.91	BL
DT	+ 0.9	U
DV	+ 0.88	U

High negative correlations

JG	- 0.71	DT
JG	- 0.71	BL
JG	- 0.67	U
JG	- 0.65	BGE
JG	- 0.63	9NY
35U	- 0.62	JG

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
U	3.78	(1.18)	0.00	(0.34)	0.00	0.00	7.12	(8.22)	35.96
BGE	3.84	0.29	0.02	0.71	6.01	(11.86)	12.50	(7.14)	65.15
XV7	1.65	(0.07)	0.00	0.53	0.00	0.00	3.17	(4.62)	16.01
9NY	5.09	(0.21)	0.00	(0.01)	0.00	0.00	13.99	(11.71)	28.82
BL	2.15	(0.80)	0.00	(0.30)	0.00	0.00	3.01	(7.06)	15.09
DT	1.62	(0.35)	0.00	(0.31)	0.00	0.00	2.62	(3.61)	13.36
DV	1.75	0.02	(0.01)	0.12	2.55	(1.87)	3.71	(4.25)	11.88
JG	2.82	0.27	0.06	2.87	3.30	(3.02)	5.92	(4.84)	18.85
35U	3.24	(0.86)	0.00	2.48	0.00	0.00	6.21	(8.55)	20.29

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