Box Correlations

BOX Stock

USD 35.09 0.03 0.09%

The current 90-days correlation between Box Inc and CCC Intelligent Solutions is 0.4 (i.e., Very weak 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

Very weak diversification

The correlation between Box Inc and DJI is 0.49 (i.e., Very weak 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.

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 persons.

Moving together with Box Stock

0.68	NN	Nextnav Acquisition Corp	Pair Corr
0.69	SQ	Block Inc Sell-off Trend	Pair Corr
0.61	EEFT	Euronet Worldwide	Pair Corr
0.85	EVCM	EverCommerce	Pair Corr
0.79	EVTC	Evertec	Pair Corr
0.63	FFIV	F5 Networks	Pair Corr
0.8	FIVN	Five9 Inc	Pair Corr
0.82	FLYW	Flywire Corp	Pair Corr
0.62	FOUR	Shift4 Payments	Pair Corr
0.62	DBX	Dropbox	Pair Corr
0.64	DLO	Dlocal	Pair Corr
0.74	GEN	Gen Digital	Pair Corr
0.75	FTNT	Fortinet	Pair Corr
0.61	IOT	Samsara	Pair Corr
0.82	MDB	MongoDB Earnings Call This Week	Pair Corr
0.73	PAY	Paymentus Holdings	Pair Corr

Moving against Box Stock

0.74	MQ	Marqeta Potential Growth	Pair Corr
0.66	FAAS	DigiAsia Corp Symbol Change	Pair Corr
0.56	VRNS	Varonis Systems	Pair Corr
0.45	VERI	Veritone	Pair Corr
0.55	VHC	VirnetX Holding Corp	Pair Corr
0.46	TCX	Tucows Inc	Pair Corr
0.39	SOS	SOS Limited Trending	Pair Corr
0.32	WEX	Wex Inc	Pair Corr

Related Correlations Analysis

	GDDY	FFIV	GEN	CCCS	PAGS	DAVA	NTNX	SPLK	VMW	WEX
GDDY		0.84	0.93	0.91	-0.5	-0.01	0.86	0.68	0.91	-0.45	GDDY
FFIV	0.84		0.92	0.75	-0.75	-0.35	0.78	0.74	0.81	-0.42	FFIV
GEN	0.93	0.92		0.82	-0.67	-0.19	0.84	0.73	0.85	-0.38	GEN
CCCS	0.91	0.75	0.82		-0.5	0.07	0.72	0.58	0.84	-0.23	CCCS
PAGS	-0.5	-0.75	-0.67	-0.5		0.6	-0.52	-0.72	-0.66	0.12	PAGS
DAVA	-0.01	-0.35	-0.19	0.07	0.6		-0.05	-0.56	-0.21	-0.12	DAVA
NTNX	0.86	0.78	0.84	0.72	-0.52	-0.05		0.67	0.8	-0.46	NTNX
SPLK	0.68	0.74	0.73	0.58	-0.72	-0.56	0.67		0.82	-0.34	SPLK
VMW	0.91	0.81	0.85	0.84	-0.66	-0.21	0.8	0.82		-0.48	VMW
WEX	-0.45	-0.42	-0.38	-0.23	0.12	-0.12	-0.46	-0.34	-0.48		WEX
	GDDY	FFIV	GEN	CCCS	PAGS	DAVA	NTNX	SPLK	VMW	WEX

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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

GEN	+ 0.93	GDDY
GEN	+ 0.92	FFIV
CCCS	+ 0.91	GDDY
VMW	+ 0.91	GDDY
NTNX	+ 0.86	GDDY
VMW	+ 0.85	GEN

High negative correlations

PAGS	- 0.75	FFIV
SPLK	- 0.72	PAGS
PAGS	- 0.67	GEN
VMW	- 0.66	PAGS
SPLK	- 0.56	DAVA
NTNX	- 0.52	PAGS

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
GDDY	1.20	0.14	0.09	0.26	1.38	(1.27)	3.13	(2.10)	6.71
FFIV	0.97	0.25	0.20	0.45	0.79	(1.12)	1.83	(1.77)	12.18
GEN	0.98	0.18	0.10	0.42	1.04	(1.08)	1.90	(1.70)	11.07
CCCS	1.05	0.13	0.10	0.27	0.88	(1.33)	2.17	(1.89)	5.99
PAGS	1.79	(0.69)	0.00	(0.66)	0.00	0.00	3.17	(4.94)	11.66
DAVA	2.28	(0.32)	0.00	(0.08)	0.00	0.00	6.11	(4.81)	14.12
NTNX	1.99	0.18	0.11	0.24	2.01	(2.40)	3.95	(3.15)	28.12
SPLK	1.63	0.20	0.03	(1.43)	1.70	(1.91)	4.36	(3.33)	10.70
VMW	1.27	0.32	0.18	1.36	0.90	(1.54)	4.04	(2.18)	7.26
WEX	1.27	(0.18)	(0.03)	0.02	3.00	(1.20)	2.08	(1.95)	18.29

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