Correlation Between Assurant and Boxed
Can any of the company-specific risk be diversified away by investing in both Assurant and Boxed at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Assurant and Boxed into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Assurant and Boxed Inc, you can compare the effects of market volatilities on Assurant and Boxed and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Assurant with a short position of Boxed. Check out your portfolio center. Please also check ongoing floating volatility patterns of Assurant and Boxed.
Diversification Opportunities for Assurant and Boxed
Pay attention - limited upside
The 3 months correlation between Assurant and Boxed is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Assurant and Boxed Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Boxed Inc and Assurant is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Assurant are associated (or correlated) with Boxed. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Boxed Inc has no effect on the direction of Assurant i.e., Assurant and Boxed go up and down completely randomly.
Pair Corralation between Assurant and Boxed
If you would invest 19,170 in Assurant on September 1, 2024 and sell it today you would earn a total of 3,540 from holding Assurant or generate 18.47% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Assurant vs. Boxed Inc
Performance |
| Timeline |
| Assurant |
| Boxed Inc |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Assurant and Boxed Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Assurant and Boxed
The main advantage of trading using opposite Assurant and Boxed positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Assurant position performs unexpectedly, Boxed can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Boxed will offset losses from the drop in Boxed's long position.| Assurant vs. Assured Guaranty | Assurant vs. Ambac Financial Group | Assurant vs. AMERISAFE | Assurant vs. Enact Holdings |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Portfolio Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.
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