Correlation Between Autins Group and Blackstone Loan
Can any of the company-specific risk be diversified away by investing in both Autins Group 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 Autins Group and Blackstone Loan into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Autins Group plc and Blackstone Loan Financing, you can compare the effects of market volatilities on Autins Group 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 Autins Group with a short position of Blackstone Loan. Check out your portfolio center. Please also check ongoing floating volatility patterns of Autins Group and Blackstone Loan.
Diversification Opportunities for Autins Group and Blackstone Loan
-0.96 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Autins and Blackstone is -0.96. Overlapping area represents the amount of risk that can be diversified away by holding Autins Group plc 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 Autins Group 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 Autins Group plc 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 Autins Group i.e., Autins Group and Blackstone Loan go up and down completely randomly.
Pair Corralation between Autins Group and Blackstone Loan
Assuming the 90 days trading horizon Autins Group plc is expected to under-perform the Blackstone Loan. In addition to that, Autins Group is 2.32 times more volatile than Blackstone Loan Financing. It trades about -0.03 of its total potential returns per unit of risk. Blackstone Loan Financing is currently generating about 0.03 per unit of volatility. If you would invest 5,837 in Blackstone Loan Financing on September 12, 2024 and sell it today you would earn a total of 563.00 from holding Blackstone Loan Financing or generate 9.65% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Autins Group plc vs. Blackstone Loan Financing
Performance |
| Timeline |
| Autins Group plc |
| Blackstone Loan Financing |
Autins Group and Blackstone Loan Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Autins Group and Blackstone Loan
The main advantage of trading using opposite Autins Group and Blackstone Loan positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Autins Group 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.| Autins Group vs. Blackstone Loan Financing | Autins Group vs. GlobalData PLC | Autins Group vs. Cairo Communication SpA | Autins Group vs. Alfa Financial Software |
| Blackstone Loan vs. Grand Vision Media | Blackstone Loan vs. G5 Entertainment AB | Blackstone Loan vs. Catena Media PLC | Blackstone Loan vs. Teradata Corp |
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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
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