Correlation Between ZALANDO SE and Boxed
Can any of the company-specific risk be diversified away by investing in both ZALANDO SE 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 ZALANDO SE and Boxed into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between ZALANDO SE ADR and Boxed Inc, you can compare the effects of market volatilities on ZALANDO SE 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 ZALANDO SE with a short position of Boxed. Check out your portfolio center. Please also check ongoing floating volatility patterns of ZALANDO SE and Boxed.
Diversification Opportunities for ZALANDO SE and Boxed
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between ZALANDO and Boxed is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding ZALANDO SE ADR and Boxed Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Boxed Inc and ZALANDO SE 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 ZALANDO SE ADR 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 ZALANDO SE i.e., ZALANDO SE and Boxed go up and down completely randomly.
Pair Corralation between ZALANDO SE and Boxed
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 |
ZALANDO SE ADR vs. Boxed Inc
Performance |
| Timeline |
| ZALANDO SE ADR |
| Boxed Inc |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
ZALANDO SE and Boxed Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ZALANDO SE and Boxed
The main advantage of trading using opposite ZALANDO SE and Boxed positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ZALANDO SE 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.| ZALANDO SE vs. ASOS Plc | ZALANDO SE vs. BoohooCom PLC ADR | ZALANDO SE vs. Allegroeu SA | ZALANDO SE vs. AKA Brands Holding |
| Boxed vs. Asure Software | Boxed vs. Franklin Wireless Corp | Boxed vs. Q2 Holdings | Boxed vs. Definitive Healthcare Corp |
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 Transaction History module to view history of all your transactions and understand their impact on performance.
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