Correlation Between Blackstone Secured and Apollo Senior
Can any of the company-specific risk be diversified away by investing in both Blackstone Secured 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 Secured 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 Secured Lending and Apollo Senior Floating, you can compare the effects of market volatilities on Blackstone Secured 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 Secured with a short position of Apollo Senior. Check out your portfolio center. Please also check ongoing floating volatility patterns of Blackstone Secured and Apollo Senior.
Diversification Opportunities for Blackstone Secured and Apollo Senior
0.83 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Blackstone and Apollo is 0.83. Overlapping area represents the amount of risk that can be diversified away by holding Blackstone Secured Lending 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 Secured 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 Secured Lending 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 Secured i.e., Blackstone Secured and Apollo Senior go up and down completely randomly.
Pair Corralation between Blackstone Secured and Apollo Senior
If you would invest 3,219 in Blackstone Secured Lending on November 4, 2024 and sell it today you would earn a total of 138.00 from holding Blackstone Secured Lending or generate 4.29% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 5.0% |
| Values | Daily Returns |
Blackstone Secured Lending vs. Apollo Senior Floating
Performance |
| Timeline |
| Blackstone Secured |
| Apollo Senior Floating |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Blackstone Secured and Apollo Senior Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Blackstone Secured and Apollo Senior
The main advantage of trading using opposite Blackstone Secured and Apollo Senior positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Blackstone Secured 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 Secured vs. Carlyle Secured Lending | Blackstone Secured vs. Oaktree Specialty Lending | Blackstone Secured vs. Sixth Street Specialty | Blackstone Secured vs. FS KKR Capital |
| 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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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