Box Correlations

BOX Stock

USD 29.71 0.14 0.47%

The current 90-days correlation between Box Inc and Qualys Inc is 0.26 (i.e., Modest diversification). The correlation of Box is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Box Correlation With Market

Average diversification

The correlation between Box Inc and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Box Inc and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Box Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Box Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Box Stock

0.75	002410	Glodon Software	Pair Corr
0.8	AUR	Aurora Innovation Aggressive Push	Pair Corr
0.67	688590	Shanghai Newtouch	Pair Corr
0.89	BSY	Bentley Systems	Pair Corr
0.84	PTC	PTC Inc	Pair Corr
0.89	SAP	SAP SE ADR	Pair Corr
0.87	TTD	Trade Desk Sell-off Trend	Pair Corr
0.84	TYL	Tyler Technologies	Pair Corr
0.85	GWRE	Guidewire Software	Pair Corr
0.82	EVPL	Everplay Group PLC	Pair Corr
0.68	002232	Qiming Information	Pair Corr
0.68	002657	Sinodata	Pair Corr
0.76	ALFA	Alfa Financial Software	Pair Corr
0.73	600536	China National Software	Pair Corr
0.78	688588	Linkage Software	Pair Corr
0.68	688232	Guotai Epoint Software	Pair Corr

Moving against Box Stock

0.7	DBD	Diebold Nixdorf	Pair Corr
0.45	300659	Zhongfu Information	Pair Corr
0.37	ZM	Zoom Video Communications	Pair Corr
0.53	688229	Bonree Data Technology	Pair Corr
0.53	603171	Servyou Software	Pair Corr
0.37	300520	GuoChuang Software	Pair Corr
0.37	603636	Linewell Software	Pair Corr
0.35	688109	Hangzhou Pinming Software	Pair Corr
0.73	688227	Bingo Software	Pair Corr
0.64	LNDNF	Lundin Energy AB	Pair Corr
0.59	300578	BizConf Telecom	Pair Corr
0.52	SSNC	SSC Technologies Holdings	Pair Corr

Related Correlations Analysis

	QLYS	ACIW	WEX	DLO	STNE	CLSK	DOCN	BDC	OS	OSIS
QLYS		-0.41	-0.33	-0.55	-0.47	-0.51	0.59	0.26	0.31	0.45	QLYS
ACIW	-0.41		0.44	0.47	0.5	0.65	-0.56	-0.05	-0.38	-0.32	ACIW
WEX	-0.33	0.44		0.59	0.1	0.4	-0.08	0.45	-0.25	-0.12	WEX
DLO	-0.55	0.47	0.59		0.44	0.62	-0.18	0.27	-0.24	-0.08	DLO
STNE	-0.47	0.5	0.1	0.44		0.78	-0.7	-0.02	-0.15	-0.15	STNE
CLSK	-0.51	0.65	0.4	0.62	0.78		-0.65	0.09	-0.41	-0.33	CLSK
DOCN	0.59	-0.56	-0.08	-0.18	-0.7	-0.65		0.25	0.54	0.65	DOCN
BDC	0.26	-0.05	0.45	0.27	-0.02	0.09	0.25		-0.27	0.31	BDC
OS	0.31	-0.38	-0.25	-0.24	-0.15	-0.41	0.54	-0.27		0.61	OS
OSIS	0.45	-0.32	-0.12	-0.08	-0.15	-0.33	0.65	0.31	0.61		OSIS
	QLYS	ACIW	WEX	DLO	STNE	CLSK	DOCN	BDC	OS	OSIS

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

CLSK	+ 0.78	STNE
CLSK	+ 0.65	ACIW
OSIS	+ 0.65	DOCN
CLSK	+ 0.62	DLO
OSIS	+ 0.61	OS
DOCN	+ 0.59	QLYS

High negative correlations

DOCN	- 0.7	STNE
DOCN	- 0.65	CLSK
DOCN	- 0.56	ACIW
DLO	- 0.55	QLYS
CLSK	- 0.51	QLYS
STNE	- 0.47	QLYS

Risk-Adjusted Indicators

There is a big difference between Box Stock performing well and Box Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Box's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
QLYS	1.53	0.02	0.01	0.11	1.78	(1.74)	2.52	(3.12)	25.56
ACIW	1.21	(0.22)	0.00	(0.32)	0.00	0.00	2.08	(3.30)	9.43
WEX	1.38	(0.05)	(0.02)	0.04	1.78	(1.32)	3.06	(2.82)	6.48
DLO	2.07	(0.15)	(0.01)	0.02	2.87	(2.13)	4.34	(4.02)	17.44
STNE	2.32	(0.37)	0.00	(0.12)	0.00	0.00	4.17	(6.88)	16.52
CLSK	5.09	(0.77)	0.00	(0.13)	0.00	0.00	12.27	(10.13)	33.02
DOCN	2.77	0.42	0.16	0.33	2.53	(3.32)	6.72	(4.19)	24.58
BDC	1.22	(0.12)	0.00	(0.01)	0.00	0.00	2.42	(3.32)	10.00
OS	3.07	0.35	0.13	0.26	2.90	(3.53)	6.39	(4.88)	29.57
OSIS	2.06	0.01	0.05	0.09	2.26	(2.20)	4.86	(3.74)	20.11

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