Correlation Between Blue Apron and BLAIR CORP

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Can any of the company-specific risk be diversified away by investing in both Blue Apron and BLAIR CORP 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 Blue Apron and BLAIR CORP into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Blue Apron Holdings and BLAIR CORP, you can compare the effects of market volatilities on Blue Apron and BLAIR CORP 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 Blue Apron with a short position of BLAIR CORP. Check out your portfolio center. Please also check ongoing floating volatility patterns of Blue Apron and BLAIR CORP.

Diversification Opportunities for Blue Apron and BLAIR CORP

0.0
  Correlation Coefficient

Pay attention - limited upside

The 3 months correlation between Blue Apron and BLAIR is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Blue Apron Holdings and BLAIR CORP in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BLAIR CORP and Blue Apron 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 Blue Apron Holdings are associated (or correlated) with BLAIR CORP. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BLAIR CORP has no effect on the direction of Blue Apron i.e., Blue Apron and BLAIR CORP go up and down completely randomly.

Pair Corralation between Blue Apron and BLAIR CORP

If you would invest  1,149  in Blue Apron Holdings on April 4, 2022 and sell it today you would lose (739.00)  from holding Blue Apron Holdings or give up 64.32% of portfolio value over 90 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

Blue Apron Holdings  vs.  BLAIR CORP

 Performance (%) 
      Timeline 
Blue Apron Holdings 
Blue Apron Performance
1 of 100
Compared to the overall equity markets, risk-adjusted returns on investments in Blue Apron Holdings are ranked lower than 1 (%) of all global equities and portfolios over the last 90 days. Despite quite sluggish basic indicators, Blue Apron may actually be approaching a critical reversion point that can send shares even higher in August 2022.

Structure and Payout Changes

Last Split Factor
1:15
Dividend Date
2019-06-17
Last Split Date
2019-06-17

Blue Apron Price Channel

BLAIR CORP 
BLAIR Performance
0 of 100
Over the last 90 days BLAIR CORP has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong essential indicators, BLAIR CORP is not utilizing all of its potentials. The latest stock price disturbance, may contribute to short-term losses for the investors.

Blue Apron and BLAIR CORP Volatility Contrast

 Predicted Return Density 
      Returns 

Pair Trading with Blue Apron and BLAIR CORP

The main advantage of trading using opposite Blue Apron and BLAIR CORP positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Blue Apron position performs unexpectedly, BLAIR CORP 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 BLAIR CORP will offset losses from the drop in BLAIR CORP's long position.
The idea behind Blue Apron Holdings and BLAIR CORP pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
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 Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.

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