Correlation Between Boxlight Corp and Posera
Can any of the company-specific risk be diversified away by investing in both Boxlight Corp and Posera 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 Boxlight Corp and Posera into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Boxlight Corp Class and Posera, you can compare the effects of market volatilities on Boxlight Corp and Posera 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 Boxlight Corp with a short position of Posera. Check out your portfolio center. Please also check ongoing floating volatility patterns of Boxlight Corp and Posera.
Diversification Opportunities for Boxlight Corp and Posera
-0.2 | Correlation Coefficient |
Good diversification
The 3 months correlation between Boxlight and Posera is -0.2. Overlapping area represents the amount of risk that can be diversified away by holding Boxlight Corp Class and Posera in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Posera and Boxlight Corp 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 Boxlight Corp Class are associated (or correlated) with Posera. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Posera has no effect on the direction of Boxlight Corp i.e., Boxlight Corp and Posera go up and down completely randomly.
Pair Corralation between Boxlight Corp and Posera
Given the investment horizon of 90 days Boxlight Corp Class is expected to generate 0.53 times more return on investment than Posera. However, Boxlight Corp Class is 1.89 times less risky than Posera. It trades about 0.02 of its potential returns per unit of risk. Posera is currently generating about -0.21 per unit of risk. If you would invest 46.00 in Boxlight Corp Class on August 28, 2024 and sell it today you would lose (1.00) from holding Boxlight Corp Class or give up 2.17% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Boxlight Corp Class vs. Posera
Performance |
| Timeline |
| Boxlight Corp Class |
| Posera |
Boxlight Corp and Posera Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Boxlight Corp and Posera
The main advantage of trading using opposite Boxlight Corp and Posera positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Boxlight Corp position performs unexpectedly, Posera 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 Posera will offset losses from the drop in Posera's long position.| Boxlight Corp vs. Siyata Mobile | Boxlight Corp vs. ClearOne | Boxlight Corp vs. Ceragon Networks | Boxlight Corp vs. Akoustis Technologies |
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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
Other Complementary Tools
| Pair Correlation Compare performance and examine fundamental relationship between any two equity instruments | |
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities | |
| Crypto Correlations Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins | |
| Bond Analysis Evaluate and analyze corporate bonds as a potential investment for your portfolios. |