Correlation Analysis Between A10 Networks and Box

This module allows you to analyze existing cross correlation between A10 Networks and Box. You can compare the effects of market volatilities on A10 Networks and Box 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 A10 Networks with a short position of Box. See also your portfolio center. Please also check ongoing floating volatility patterns of A10 Networks and Box.
Horizon     30 Days    Login   to change
Symbolsvs
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Comparative Performance

A10 Networks  
66

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in A10 Networks are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days. Allthough quite sluggish forward indicators, A10 Networks may actually be approaching a critical reversion point that can send shares even higher in September 2019.
Box  
00

Risk-Adjusted Performance

Over the last 30 days Box has generated negative risk-adjusted returns adding no value to investors with long positions. Inspite unfluctuating performance in the last few months, the Stock's basic indicators remain fairly strong which may send shares a bit higher in September 2019. The current disturbance may also be a sign of long term up-swing for the company investors.

A10 Networks and Box Volatility Contrast

 Predicted Return Density 
      Returns 

A10 Networks Inc  vs.  Box Inc

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, A10 Networks is expected to generate 1.09 times more return on investment than Box. However, A10 Networks is 1.09 times more volatile than Box. It trades about 0.09 of its potential returns per unit of risk. Box is currently generating about -0.47 per unit of risk. If you would invest  659.00  in A10 Networks on July 20, 2019 and sell it today you would earn a total of  44.00  from holding A10 Networks or generate 6.68% return on investment over 30 days.

Pair Corralation between A10 Networks and Box

-0.22
Time Period2 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for A10 Networks and Box

A10 Networks Inc diversification synergy

Very good diversification

Overlapping area represents the amount of risk that can be diversified away by holding A10 Networks Inc and Box Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Box and A10 Networks 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 A10 Networks are associated (or correlated) with Box. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Box has no effect on the direction of A10 Networks i.e. A10 Networks and Box go up and down completely randomly.
See also your portfolio center. Please also try Money Flow Index module to determine momentum by analyzing money flow index and other technical indicators.


 
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