Correlation Between Blackstone Gso and Eaton Vance
Can any of the company-specific risk be diversified away by investing in both Blackstone Gso and Eaton Vance 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 Blackstone Gso and Eaton Vance into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Blackstone Gso Strategic and Eaton Vance Senior, you can compare the effects of market volatilities on Blackstone Gso and Eaton Vance 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 Blackstone Gso with a short position of Eaton Vance. Check out your portfolio center. Please also check ongoing floating volatility patterns of Blackstone Gso and Eaton Vance.
Diversification Opportunities for Blackstone Gso and Eaton Vance
0.67 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Blackstone and Eaton is 0.67. Overlapping area represents the amount of risk that can be diversified away by holding Blackstone Gso Strategic and Eaton Vance Senior in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Eaton Vance Senior and Blackstone Gso 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 Blackstone Gso Strategic are associated (or correlated) with Eaton Vance. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Eaton Vance Senior has no effect on the direction of Blackstone Gso i.e., Blackstone Gso and Eaton Vance go up and down completely randomly.
Pair Corralation between Blackstone Gso and Eaton Vance
Considering the 90-day investment horizon Blackstone Gso Strategic is expected to generate 0.87 times more return on investment than Eaton Vance. However, Blackstone Gso Strategic is 1.14 times less risky than Eaton Vance. It trades about 0.13 of its potential returns per unit of risk. Eaton Vance Senior is currently generating about 0.05 per unit of risk. If you would invest 1,128 in Blackstone Gso Strategic on August 28, 2024 and sell it today you would earn a total of 102.00 from holding Blackstone Gso Strategic or generate 9.04% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 99.21% |
| Values | Daily Returns |
Blackstone Gso Strategic vs. Eaton Vance Senior
Performance |
| Timeline |
| Blackstone Gso Strategic |
| Eaton Vance Senior |
Blackstone Gso and Eaton Vance Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Blackstone Gso and Eaton Vance
The main advantage of trading using opposite Blackstone Gso and Eaton Vance positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Blackstone Gso position performs unexpectedly, Eaton Vance 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 Eaton Vance will offset losses from the drop in Eaton Vance's long position.| Blackstone Gso vs. First Trust Senior | Blackstone Gso vs. BlackRock Floating Rate | Blackstone Gso vs. Eaton Vance Senior | Blackstone Gso vs. BlackRock Global Opportunities |
| Eaton Vance vs. MFS Investment Grade | Eaton Vance vs. Invesco High Income | Eaton Vance vs. Eaton Vance National | Eaton Vance vs. Nuveen California Select |
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 Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
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