Correlation Between Boxed and Blue Apron
Can any of the company-specific risk be diversified away by investing in both Boxed and Blue Apron 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 Boxed and Blue Apron into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Boxed Inc and Blue Apron Holdings,, you can compare the effects of market volatilities on Boxed and Blue Apron 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 Boxed with a short position of Blue Apron. Check out your portfolio center. Please also check ongoing floating volatility patterns of Boxed and Blue Apron.
Diversification Opportunities for Boxed and Blue Apron
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Boxed and Blue is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Boxed Inc and Blue Apron Holdings, in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Blue Apron Holdings, and Boxed 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 Boxed Inc are associated (or correlated) with Blue Apron. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Blue Apron Holdings, has no effect on the direction of Boxed i.e., Boxed and Blue Apron go up and down completely randomly.
Pair Corralation between Boxed and Blue Apron
If you would invest 497.00 in Blue Apron Holdings, on August 28, 2024 and sell it today you would earn a total of 0.00 from holding Blue Apron Holdings, or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Boxed Inc vs. Blue Apron Holdings,
Performance |
| Timeline |
| Boxed Inc |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Blue Apron Holdings, |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Boxed and Blue Apron Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Boxed and Blue Apron
The main advantage of trading using opposite Boxed and Blue Apron positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Boxed position performs unexpectedly, Blue Apron 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 Blue Apron will offset losses from the drop in Blue Apron's long position.| Boxed vs. Sweetgreen | Boxed vs. Papaya Growth Opportunity | Boxed vs. The Cheesecake Factory | Boxed vs. Rave Restaurant Group |
| Blue Apron vs. Hour Loop | Blue Apron vs. Wayfair | Blue Apron vs. Kidpik Corp | Blue Apron vs. Oriental Culture Holding |
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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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