Correlation Between Blackstone Loan and Mobilezone Holding
Can any of the company-specific risk be diversified away by investing in both Blackstone Loan and Mobilezone Holding 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 Mobilezone Holding 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 mobilezone holding AG, you can compare the effects of market volatilities on Blackstone Loan and Mobilezone Holding 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 Mobilezone Holding. Check out your portfolio center. Please also check ongoing floating volatility patterns of Blackstone Loan and Mobilezone Holding.
Diversification Opportunities for Blackstone Loan and Mobilezone Holding
0.57 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Blackstone and Mobilezone is 0.57. Overlapping area represents the amount of risk that can be diversified away by holding Blackstone Loan Financing and mobilezone holding AG in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on mobilezone holding 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 Mobilezone Holding. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of mobilezone holding has no effect on the direction of Blackstone Loan i.e., Blackstone Loan and Mobilezone Holding go up and down completely randomly.
Pair Corralation between Blackstone Loan and Mobilezone Holding
Assuming the 90 days trading horizon Blackstone Loan Financing is expected to generate 2.61 times more return on investment than Mobilezone Holding. However, Blackstone Loan is 2.61 times more volatile than mobilezone holding AG. It trades about 0.29 of its potential returns per unit of risk. mobilezone holding AG is currently generating about 0.14 per unit of risk. If you would invest 5,750 in Blackstone Loan Financing on September 5, 2024 and sell it today you would earn a total of 750.00 from holding Blackstone Loan Financing or generate 13.04% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 95.65% |
| Values | Daily Returns |
Blackstone Loan Financing vs. mobilezone holding AG
Performance |
| Timeline |
| Blackstone Loan Financing |
| mobilezone holding |
Blackstone Loan and Mobilezone Holding Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Blackstone Loan and Mobilezone Holding
The main advantage of trading using opposite Blackstone Loan and Mobilezone Holding positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Blackstone Loan position performs unexpectedly, Mobilezone Holding 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 Mobilezone Holding will offset losses from the drop in Mobilezone Holding's long position.| Blackstone Loan vs. Samsung Electronics Co | Blackstone Loan vs. Samsung Electronics Co | Blackstone Loan vs. Hyundai Motor | Blackstone Loan vs. Toyota Motor Corp |
| Mobilezone Holding vs. Samsung Electronics Co | Mobilezone Holding vs. Global Net Lease | Mobilezone Holding vs. Blackstone Loan Financing | Mobilezone Holding vs. Darden Restaurants |
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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
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