Correlation Between Boxed and ZALANDO SE
Can any of the company-specific risk be diversified away by investing in both Boxed and ZALANDO SE 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 ZALANDO SE into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Boxed Inc and ZALANDO SE ADR, you can compare the effects of market volatilities on Boxed and ZALANDO SE 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 ZALANDO SE. Check out your portfolio center. Please also check ongoing floating volatility patterns of Boxed and ZALANDO SE.
Diversification Opportunities for Boxed and ZALANDO SE
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Boxed and ZALANDO is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Boxed Inc and ZALANDO SE ADR in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ZALANDO SE ADR 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 ZALANDO SE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ZALANDO SE ADR has no effect on the direction of Boxed i.e., Boxed and ZALANDO SE go up and down completely randomly.
Pair Corralation between Boxed and ZALANDO SE
If you would invest 1,208 in ZALANDO SE ADR on August 25, 2024 and sell it today you would earn a total of 319.00 from holding ZALANDO SE ADR or generate 26.41% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Boxed Inc vs. ZALANDO SE ADR
Performance |
| Timeline |
| Boxed Inc |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| ZALANDO SE ADR |
Boxed and ZALANDO SE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Boxed and ZALANDO SE
The main advantage of trading using opposite Boxed and ZALANDO SE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Boxed position performs unexpectedly, ZALANDO SE 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 ZALANDO SE will offset losses from the drop in ZALANDO SE's long position.| Boxed vs. Asure Software | Boxed vs. Franklin Wireless Corp | Boxed vs. Q2 Holdings | Boxed vs. Definitive Healthcare Corp |
| ZALANDO SE vs. ASOS Plc | ZALANDO SE vs. BoohooCom PLC ADR | ZALANDO SE vs. Allegroeu SA | ZALANDO SE vs. AKA Brands 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 Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.
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