Correlation Between Blackstone Secured and Fidelity Real
Can any of the company-specific risk be diversified away by investing in both Blackstone Secured and Fidelity Real 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 Fidelity Real 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 Fidelity Real Estate, you can compare the effects of market volatilities on Blackstone Secured and Fidelity Real 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 Fidelity Real. Check out your portfolio center. Please also check ongoing floating volatility patterns of Blackstone Secured and Fidelity Real.
Diversification Opportunities for Blackstone Secured and Fidelity Real
-0.44 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Blackstone and Fidelity is -0.44. Overlapping area represents the amount of risk that can be diversified away by holding Blackstone Secured Lending and Fidelity Real Estate in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Fidelity Real Estate 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 Fidelity Real. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Fidelity Real Estate has no effect on the direction of Blackstone Secured i.e., Blackstone Secured and Fidelity Real go up and down completely randomly.
Pair Corralation between Blackstone Secured and Fidelity Real
Given the investment horizon of 90 days Blackstone Secured Lending is expected to generate 2.51 times more return on investment than Fidelity Real. However, Blackstone Secured is 2.51 times more volatile than Fidelity Real Estate. It trades about 0.11 of its potential returns per unit of risk. Fidelity Real Estate is currently generating about -0.3 per unit of risk. If you would invest 3,138 in Blackstone Secured Lending on October 16, 2024 and sell it today you would earn a total of 59.00 from holding Blackstone Secured Lending or generate 1.88% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Blackstone Secured Lending vs. Fidelity Real Estate
Performance |
| Timeline |
| Blackstone Secured |
| Fidelity Real Estate |
Blackstone Secured and Fidelity Real Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Blackstone Secured and Fidelity Real
The main advantage of trading using opposite Blackstone Secured and Fidelity Real positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Blackstone Secured position performs unexpectedly, Fidelity Real 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 Fidelity Real will offset losses from the drop in Fidelity Real'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 |
| Fidelity Real vs. Vanguard Financials Index | Fidelity Real vs. Blackstone Secured Lending | Fidelity Real vs. Icon Financial Fund | Fidelity Real vs. Rmb Mendon 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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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