Correlation Between Blackstone Loan and Uniper SE
Can any of the company-specific risk be diversified away by investing in both Blackstone Loan and Uniper SE 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 Uniper SE 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 Uniper SE, you can compare the effects of market volatilities on Blackstone Loan and Uniper SE 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 Uniper SE. Check out your portfolio center. Please also check ongoing floating volatility patterns of Blackstone Loan and Uniper SE.
Diversification Opportunities for Blackstone Loan and Uniper SE
-0.37 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Blackstone and Uniper is -0.37. Overlapping area represents the amount of risk that can be diversified away by holding Blackstone Loan Financing and Uniper SE in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Uniper SE 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 Uniper SE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Uniper SE has no effect on the direction of Blackstone Loan i.e., Blackstone Loan and Uniper SE go up and down completely randomly.
Pair Corralation between Blackstone Loan and Uniper SE
Assuming the 90 days trading horizon Blackstone Loan is expected to generate 1.35 times less return on investment than Uniper SE. But when comparing it to its historical volatility, Blackstone Loan Financing is 2.69 times less risky than Uniper SE. It trades about 0.1 of its potential returns per unit of risk. Uniper SE is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest 3,928 in Uniper SE on November 3, 2024 and sell it today you would earn a total of 489.00 from holding Uniper SE or generate 12.45% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 90.48% |
| Values | Daily Returns |
Blackstone Loan Financing vs. Uniper SE
Performance |
| Timeline |
| Blackstone Loan Financing |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Good
| Uniper SE |
Blackstone Loan and Uniper SE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Blackstone Loan and Uniper SE
The main advantage of trading using opposite Blackstone Loan and Uniper SE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Blackstone Loan position performs unexpectedly, Uniper SE 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 Uniper SE will offset losses from the drop in Uniper SE'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 |
| Uniper SE vs. Zoom Video Communications | Uniper SE vs. Scandic Hotels Group | Uniper SE vs. Charter Communications Cl | Uniper SE vs. Dalata Hotel Group |
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 Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.
Other Complementary Tools
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format | |
| Balance Of Power Check stock momentum by analyzing Balance Of Power indicator and other technical ratios | |
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| Content Syndication Quickly integrate customizable finance content to your own investment portal | |
| Portfolio Analyzer Portfolio analysis module that provides access to portfolio diagnostics and optimization engine |