Correlation Between Blackstone Secured and Dreyfus/standish
Can any of the company-specific risk be diversified away by investing in both Blackstone Secured and Dreyfus/standish 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 Dreyfus/standish 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 Dreyfusstandish Global Fixed, you can compare the effects of market volatilities on Blackstone Secured and Dreyfus/standish 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 Dreyfus/standish. Check out your portfolio center. Please also check ongoing floating volatility patterns of Blackstone Secured and Dreyfus/standish.
Diversification Opportunities for Blackstone Secured and Dreyfus/standish
0.16 | Correlation Coefficient |
Average diversification
The 3 months correlation between Blackstone and Dreyfus/standish is 0.16. Overlapping area represents the amount of risk that can be diversified away by holding Blackstone Secured Lending and Dreyfusstandish Global Fixed in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dreyfusstandish Global 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 Dreyfus/standish. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dreyfusstandish Global has no effect on the direction of Blackstone Secured i.e., Blackstone Secured and Dreyfus/standish go up and down completely randomly.
Pair Corralation between Blackstone Secured and Dreyfus/standish
Given the investment horizon of 90 days Blackstone Secured Lending is expected to generate 3.49 times more return on investment than Dreyfus/standish. However, Blackstone Secured is 3.49 times more volatile than Dreyfusstandish Global Fixed. It trades about 0.19 of its potential returns per unit of risk. Dreyfusstandish Global Fixed is currently generating about 0.09 per unit of risk. If you would invest 3,250 in Blackstone Secured Lending on November 3, 2024 and sell it today you would earn a total of 107.00 from holding Blackstone Secured Lending or generate 3.29% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Blackstone Secured Lending vs. Dreyfusstandish Global Fixed
Performance |
| Timeline |
| Blackstone Secured |
| Dreyfusstandish Global |
Blackstone Secured and Dreyfus/standish Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Blackstone Secured and Dreyfus/standish
The main advantage of trading using opposite Blackstone Secured and Dreyfus/standish positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Blackstone Secured position performs unexpectedly, Dreyfus/standish 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 Dreyfus/standish will offset losses from the drop in Dreyfus/standish'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 |
| Dreyfus/standish vs. T Rowe Price | Dreyfus/standish vs. Fm Investments Large | Dreyfus/standish vs. Transamerica Asset Allocation | Dreyfus/standish vs. Morningstar Global Income |
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 Volatility Analysis module to get historical volatility and risk analysis based on latest market data.
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