Correlation Between Blackstone and Amark Preci
Can any of the company-specific risk be diversified away by investing in both Blackstone and Amark Preci 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 and Amark Preci into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Blackstone Group and Amark Preci, you can compare the effects of market volatilities on Blackstone and Amark Preci 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 with a short position of Amark Preci. Check out your portfolio center. Please also check ongoing floating volatility patterns of Blackstone and Amark Preci.
Diversification Opportunities for Blackstone and Amark Preci
-0.66 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Blackstone and Amark is -0.66. Overlapping area represents the amount of risk that can be diversified away by holding Blackstone Group and Amark Preci in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Amark Preci and Blackstone 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 Group are associated (or correlated) with Amark Preci. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Amark Preci has no effect on the direction of Blackstone i.e., Blackstone and Amark Preci go up and down completely randomly.
Pair Corralation between Blackstone and Amark Preci
Allowing for the 90-day total investment horizon Blackstone Group is expected to generate 0.68 times more return on investment than Amark Preci. However, Blackstone Group is 1.48 times less risky than Amark Preci. It trades about 0.13 of its potential returns per unit of risk. Amark Preci is currently generating about 0.0 per unit of risk. If you would invest 7,742 in Blackstone Group on August 26, 2024 and sell it today you would earn a total of 11,659 from holding Blackstone Group or generate 150.59% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Blackstone Group vs. Amark Preci
Performance |
| Timeline |
| Blackstone Group |
| Amark Preci |
Blackstone and Amark Preci Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Blackstone and Amark Preci
The main advantage of trading using opposite Blackstone and Amark Preci positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Blackstone position performs unexpectedly, Amark Preci 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 Amark Preci will offset losses from the drop in Amark Preci's long position.| Blackstone vs. PowerUp Acquisition Corp | Blackstone vs. Aurora Innovation | Blackstone vs. HUMANA INC | Blackstone vs. Aquagold International |
| Amark Preci vs. PJT Partners | Amark Preci vs. Scully Royalty | Amark Preci vs. Piper Sandler Companies | Amark Preci vs. Evercore Partners |
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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
Other Complementary Tools
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk | |
| Portfolio Holdings Check your current holdings and cash postion to detemine if your portfolio needs rebalancing | |
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
| Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets | |
| Idea Optimizer Use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio |