Correlation Between Blackstone Gso and Apollo Senior
Can any of the company-specific risk be diversified away by investing in both Blackstone Gso and Apollo Senior 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 Gso and Apollo Senior into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Blackstone Gso Senior and Apollo Senior Floating, you can compare the effects of market volatilities on Blackstone Gso and Apollo Senior 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 Gso with a short position of Apollo Senior. Check out your portfolio center. Please also check ongoing floating volatility patterns of Blackstone Gso and Apollo Senior.
Diversification Opportunities for Blackstone Gso and Apollo Senior
0.67 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Blackstone and Apollo is 0.67. Overlapping area represents the amount of risk that can be diversified away by holding Blackstone Gso Senior and Apollo Senior Floating in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Apollo Senior Floating and Blackstone Gso 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 Gso Senior are associated (or correlated) with Apollo Senior. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Apollo Senior Floating has no effect on the direction of Blackstone Gso i.e., Blackstone Gso and Apollo Senior go up and down completely randomly.
Pair Corralation between Blackstone Gso and Apollo Senior
If you would invest 1,407 in Blackstone Gso Senior on September 1, 2024 and sell it today you would earn a total of 58.00 from holding Blackstone Gso Senior or generate 4.12% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 4.76% |
| Values | Daily Returns |
Blackstone Gso Senior vs. Apollo Senior Floating
Performance |
| Timeline |
| Blackstone Gso Senior |
| Apollo Senior Floating |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Blackstone Gso and Apollo Senior Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Blackstone Gso and Apollo Senior
The main advantage of trading using opposite Blackstone Gso and Apollo Senior positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Blackstone Gso position performs unexpectedly, Apollo Senior 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 Apollo Senior will offset losses from the drop in Apollo Senior's long position.| Blackstone Gso vs. Blackstone Gso Long | Blackstone Gso vs. First Trust Senior | Blackstone Gso vs. Eaton Vance Senior | Blackstone Gso vs. Blackstone Gso Strategic |
| Apollo Senior vs. Blackstone Gso Strategic | Apollo Senior vs. First Trust Senior | Apollo Senior vs. BlackRock Floating Rate | Apollo Senior vs. Eaton Vance Senior |
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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
Other Complementary Tools
| Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings | |
| Price Exposure Probability Analyze equity upside and downside potential for a given time horizon across multiple markets | |
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
| Content Syndication Quickly integrate customizable finance content to your own investment portal | |
| Latest Portfolios Quick portfolio dashboard that showcases your latest portfolios |