Correlation Between Blackstone Loan and OTP Bank
Can any of the company-specific risk be diversified away by investing in both Blackstone Loan and OTP Bank 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 Loan and OTP Bank into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Blackstone Loan Financing and OTP Bank Nyrt, you can compare the effects of market volatilities on Blackstone Loan and OTP Bank 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 Loan with a short position of OTP Bank. Check out your portfolio center. Please also check ongoing floating volatility patterns of Blackstone Loan and OTP Bank.
Diversification Opportunities for Blackstone Loan and OTP Bank
-0.11 | Correlation Coefficient |
Good diversification
The 3 months correlation between Blackstone and OTP is -0.11. Overlapping area represents the amount of risk that can be diversified away by holding Blackstone Loan Financing and OTP Bank Nyrt in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on OTP Bank Nyrt and Blackstone Loan 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 Loan Financing are associated (or correlated) with OTP Bank. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of OTP Bank Nyrt has no effect on the direction of Blackstone Loan i.e., Blackstone Loan and OTP Bank go up and down completely randomly.
Pair Corralation between Blackstone Loan and OTP Bank
If you would invest 1,259,000 in OTP Bank Nyrt on November 3, 2024 and sell it today you would earn a total of 0.00 from holding OTP Bank Nyrt or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 45.45% |
| Values | Daily Returns |
Blackstone Loan Financing vs. OTP Bank Nyrt
Performance |
| Timeline |
| Blackstone Loan Financing |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Good
| OTP Bank Nyrt |
Blackstone Loan and OTP Bank Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Blackstone Loan and OTP Bank
The main advantage of trading using opposite Blackstone Loan and OTP Bank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Blackstone Loan position performs unexpectedly, OTP Bank 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 OTP Bank will offset losses from the drop in OTP Bank's long position.| Blackstone Loan vs. Seraphim Space Investment | Blackstone Loan vs. Scottish American Investment | Blackstone Loan vs. Livermore Investments Group | Blackstone Loan vs. Kinnevik Investment AB |
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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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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