Correlation Between Qurate Retail and Boxed
Can any of the company-specific risk be diversified away by investing in both Qurate Retail 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 Qurate Retail and Boxed into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Qurate Retail Series and Boxed Inc, you can compare the effects of market volatilities on Qurate Retail 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 Qurate Retail with a short position of Boxed. Check out your portfolio center. Please also check ongoing floating volatility patterns of Qurate Retail and Boxed.
Diversification Opportunities for Qurate Retail and Boxed
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Qurate and Boxed is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Qurate Retail Series and Boxed Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Boxed Inc and Qurate Retail 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 Qurate Retail Series 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 Qurate Retail i.e., Qurate Retail and Boxed go up and down completely randomly.
Pair Corralation between Qurate Retail and Boxed
If you would invest 311.00 in Qurate Retail Series on September 1, 2024 and sell it today you would lose (4.00) from holding Qurate Retail Series or give up 1.29% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Qurate Retail Series vs. Boxed Inc
Performance |
| Timeline |
| Qurate Retail Series |
| Boxed Inc |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Qurate Retail and Boxed Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Qurate Retail and Boxed
The main advantage of trading using opposite Qurate Retail and Boxed positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Qurate Retail 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.| Qurate Retail vs. Qurate Retail | Qurate Retail vs. Newegg Commerce | Qurate Retail vs. Kidpik Corp | Qurate Retail vs. Natural Health Trend |
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 Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.
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