Correlation Between Blackstone Loan and Made Tech
Can any of the company-specific risk be diversified away by investing in both Blackstone Loan and Made Tech 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 Made Tech 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 Made Tech Group, you can compare the effects of market volatilities on Blackstone Loan and Made Tech 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 Made Tech. Check out your portfolio center. Please also check ongoing floating volatility patterns of Blackstone Loan and Made Tech.
Diversification Opportunities for Blackstone Loan and Made Tech
0.9 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Blackstone and Made is 0.9. Overlapping area represents the amount of risk that can be diversified away by holding Blackstone Loan Financing and Made Tech Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Made Tech 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 Made Tech. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Made Tech Group has no effect on the direction of Blackstone Loan i.e., Blackstone Loan and Made Tech go up and down completely randomly.
Pair Corralation between Blackstone Loan and Made Tech
If you would invest 2,350 in Made Tech Group on October 11, 2024 and sell it today you would earn a total of 125.00 from holding Made Tech Group or generate 5.32% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Blackstone Loan Financing vs. Made Tech Group
Performance |
| Timeline |
| Blackstone Loan Financing |
| Made Tech Group |
Blackstone Loan and Made Tech Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Blackstone Loan and Made Tech
The main advantage of trading using opposite Blackstone Loan and Made Tech positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Blackstone Loan position performs unexpectedly, Made Tech 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 Made Tech will offset losses from the drop in Made Tech's long position.| Blackstone Loan vs. Jacquet Metal Service | Blackstone Loan vs. Wizz Air Holdings | Blackstone Loan vs. GreenX Metals | Blackstone Loan vs. URU Metals |
| Made Tech vs. JD Sports Fashion | Made Tech vs. Blackstone Loan Financing | Made Tech vs. Martin Marietta Materials | Made Tech vs. alstria office REIT AG |
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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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