Correlation Between Apollo Senior and Blackstone Gso
Can any of the company-specific risk be diversified away by investing in both Apollo Senior and Blackstone Gso 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 Apollo Senior and Blackstone Gso into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Apollo Senior Floating and Blackstone Gso Long, you can compare the effects of market volatilities on Apollo Senior and Blackstone Gso 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 Apollo Senior with a short position of Blackstone Gso. Check out your portfolio center. Please also check ongoing floating volatility patterns of Apollo Senior and Blackstone Gso.
Diversification Opportunities for Apollo Senior and Blackstone Gso
0.27 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Apollo and Blackstone is 0.27. Overlapping area represents the amount of risk that can be diversified away by holding Apollo Senior Floating and Blackstone Gso Long in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Blackstone Gso Long and Apollo Senior 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 Apollo Senior Floating are associated (or correlated) with Blackstone Gso. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Blackstone Gso Long has no effect on the direction of Apollo Senior i.e., Apollo Senior and Blackstone Gso go up and down completely randomly.
Pair Corralation between Apollo Senior and Blackstone Gso
Considering the 90-day investment horizon Apollo Senior Floating is expected to generate 1.05 times more return on investment than Blackstone Gso. However, Apollo Senior is 1.05 times more volatile than Blackstone Gso Long. It trades about 0.14 of its potential returns per unit of risk. Blackstone Gso Long is currently generating about 0.12 per unit of risk. If you would invest 1,031 in Apollo Senior Floating on August 28, 2024 and sell it today you would earn a total of 455.00 from holding Apollo Senior Floating or generate 44.13% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 82.02% |
| Values | Daily Returns |
Apollo Senior Floating vs. Blackstone Gso Long
Performance |
| Timeline |
| Apollo Senior Floating |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Blackstone Gso Long |
Apollo Senior and Blackstone Gso Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Apollo Senior and Blackstone Gso
The main advantage of trading using opposite Apollo Senior and Blackstone Gso positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Apollo Senior position performs unexpectedly, Blackstone Gso 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 Gso will offset losses from the drop in Blackstone Gso's long position.| Apollo Senior vs. Blackstone Gso Strategic | Apollo Senior vs. First Trust Senior | Apollo Senior vs. BlackRock Floating Rate | Apollo Senior vs. Eaton Vance Senior |
| Blackstone Gso vs. First Trust Senior | Blackstone Gso vs. Eaton Vance Senior | Blackstone Gso vs. Blackrock International Growth | Blackstone Gso vs. BlackRock Municipal Income |
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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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