Correlation Between Blackstone Loan and Deltex Medical
Can any of the company-specific risk be diversified away by investing in both Blackstone Loan and Deltex Medical 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 Deltex Medical 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 Deltex Medical Group, you can compare the effects of market volatilities on Blackstone Loan and Deltex Medical 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 Deltex Medical. Check out your portfolio center. Please also check ongoing floating volatility patterns of Blackstone Loan and Deltex Medical.
Diversification Opportunities for Blackstone Loan and Deltex Medical
-0.8 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Blackstone and Deltex is -0.8. Overlapping area represents the amount of risk that can be diversified away by holding Blackstone Loan Financing and Deltex Medical Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Deltex Medical Group 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 Deltex Medical. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Deltex Medical Group has no effect on the direction of Blackstone Loan i.e., Blackstone Loan and Deltex Medical go up and down completely randomly.
Pair Corralation between Blackstone Loan and Deltex Medical
Assuming the 90 days trading horizon Blackstone Loan Financing is expected to generate 0.32 times more return on investment than Deltex Medical. However, Blackstone Loan Financing is 3.1 times less risky than Deltex Medical. It trades about 0.13 of its potential returns per unit of risk. Deltex Medical Group is currently generating about -0.07 per unit of risk. If you would invest 5,396 in Blackstone Loan Financing on September 3, 2024 and sell it today you would earn a total of 1,104 from holding Blackstone Loan Financing or generate 20.46% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Blackstone Loan Financing vs. Deltex Medical Group
Performance |
| Timeline |
| Blackstone Loan Financing |
| Deltex Medical Group |
Blackstone Loan and Deltex Medical Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Blackstone Loan and Deltex Medical
The main advantage of trading using opposite Blackstone Loan and Deltex Medical positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Blackstone Loan position performs unexpectedly, Deltex Medical 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 Deltex Medical will offset losses from the drop in Deltex Medical's long position.| Blackstone Loan vs. Catalyst Media Group | Blackstone Loan vs. CATLIN GROUP | Blackstone Loan vs. RTW Venture Fund | Blackstone Loan vs. Secure Property Development |
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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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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