Correlation Between Blackstone Secured and Intal High
Can any of the company-specific risk be diversified away by investing in both Blackstone Secured and Intal High 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 Intal High 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 Intal High Relative, you can compare the effects of market volatilities on Blackstone Secured and Intal High 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 Intal High. Check out your portfolio center. Please also check ongoing floating volatility patterns of Blackstone Secured and Intal High.
Diversification Opportunities for Blackstone Secured and Intal High
-0.76 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Blackstone and Intal is -0.76. Overlapping area represents the amount of risk that can be diversified away by holding Blackstone Secured Lending and Intal High Relative in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Intal High Relative 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 Intal High. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Intal High Relative has no effect on the direction of Blackstone Secured i.e., Blackstone Secured and Intal High go up and down completely randomly.
Pair Corralation between Blackstone Secured and Intal High
Given the investment horizon of 90 days Blackstone Secured Lending is expected to generate 1.33 times more return on investment than Intal High. However, Blackstone Secured is 1.33 times more volatile than Intal High Relative. It trades about 0.11 of its potential returns per unit of risk. Intal High Relative is currently generating about -0.28 per unit of risk. If you would invest 3,133 in Blackstone Secured Lending on October 12, 2024 and sell it today you would earn a total of 57.00 from holding Blackstone Secured Lending or generate 1.82% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Blackstone Secured Lending vs. Intal High Relative
Performance |
| Timeline |
| Blackstone Secured |
| Intal High Relative |
Blackstone Secured and Intal High Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Blackstone Secured and Intal High
The main advantage of trading using opposite Blackstone Secured and Intal High positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Blackstone Secured position performs unexpectedly, Intal High 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 Intal High will offset losses from the drop in Intal High'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 |
| Intal High vs. Icon Financial Fund | Intal High vs. Financials Ultrasector Profund | Intal High vs. Blackstone Secured Lending | Intal High vs. Gabelli Global Financial |
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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
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