Correlation Between Blackstone Secured and Global Fixed
Can any of the company-specific risk be diversified away by investing in both Blackstone Secured and Global Fixed 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 Global Fixed 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 Global Fixed Income, you can compare the effects of market volatilities on Blackstone Secured and Global Fixed 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 Global Fixed. Check out your portfolio center. Please also check ongoing floating volatility patterns of Blackstone Secured and Global Fixed.
Diversification Opportunities for Blackstone Secured and Global Fixed
0.75 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Blackstone and Global is 0.75. Overlapping area represents the amount of risk that can be diversified away by holding Blackstone Secured Lending and Global Fixed Income in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Global Fixed Income 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 Global Fixed. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Global Fixed Income has no effect on the direction of Blackstone Secured i.e., Blackstone Secured and Global Fixed go up and down completely randomly.
Pair Corralation between Blackstone Secured and Global Fixed
Given the investment horizon of 90 days Blackstone Secured Lending is expected to generate 4.03 times more return on investment than Global Fixed. However, Blackstone Secured is 4.03 times more volatile than Global Fixed Income. It trades about 0.19 of its potential returns per unit of risk. Global Fixed Income 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 | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Blackstone Secured Lending vs. Global Fixed Income
Performance |
| Timeline |
| Blackstone Secured |
| Global Fixed Income |
Blackstone Secured and Global Fixed Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Blackstone Secured and Global Fixed
The main advantage of trading using opposite Blackstone Secured and Global Fixed positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Blackstone Secured position performs unexpectedly, Global Fixed 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 Global Fixed will offset losses from the drop in Global Fixed'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 |
| Global Fixed vs. Ab Large Cap | Global Fixed vs. Guidemark Large Cap | Global Fixed vs. Calvert Large Cap | Global Fixed vs. Fisher Large Cap |
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 Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
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