Correlation Between JB Hunt and Blackstone Loan
Can any of the company-specific risk be diversified away by investing in both JB Hunt and Blackstone Loan 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 JB Hunt and Blackstone Loan into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between JB Hunt Transport and Blackstone Loan Financing, you can compare the effects of market volatilities on JB Hunt and Blackstone Loan 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 JB Hunt with a short position of Blackstone Loan. Check out your portfolio center. Please also check ongoing floating volatility patterns of JB Hunt and Blackstone Loan.
Diversification Opportunities for JB Hunt and Blackstone Loan
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between 0J71 and Blackstone is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding JB Hunt Transport and Blackstone Loan Financing in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Blackstone Loan Financing and JB Hunt 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 JB Hunt Transport are associated (or correlated) with Blackstone Loan. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Blackstone Loan Financing has no effect on the direction of JB Hunt i.e., JB Hunt and Blackstone Loan go up and down completely randomly.
Pair Corralation between JB Hunt and Blackstone Loan
If you would invest 6,400 in Blackstone Loan Financing on October 16, 2024 and sell it today you would earn a total of 0.00 from holding Blackstone Loan Financing or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 90.0% |
| Values | Daily Returns |
JB Hunt Transport vs. Blackstone Loan Financing
Performance |
| Timeline |
| JB Hunt Transport |
| Blackstone Loan Financing |
JB Hunt and Blackstone Loan Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JB Hunt and Blackstone Loan
The main advantage of trading using opposite JB Hunt and Blackstone Loan positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JB Hunt position performs unexpectedly, Blackstone Loan 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 Blackstone Loan will offset losses from the drop in Blackstone Loan's long position.| JB Hunt vs. BW Offshore | JB Hunt vs. Foresight Environmental Infrastructure | JB Hunt vs. Solstad Offshore ASA | JB Hunt vs. JLEN Environmental Assets |
| Blackstone Loan vs. Zurich Insurance Group | Blackstone Loan vs. Pentair PLC | Blackstone Loan vs. CAP LEASE AVIATION | Blackstone Loan vs. Young Cos Brewery |
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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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