Correlation Between Blackstone Secured and Gmo Emerging
Can any of the company-specific risk be diversified away by investing in both Blackstone Secured and Gmo Emerging 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 Gmo Emerging 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 Gmo Emerging Domestic, you can compare the effects of market volatilities on Blackstone Secured and Gmo Emerging 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 Gmo Emerging. Check out your portfolio center. Please also check ongoing floating volatility patterns of Blackstone Secured and Gmo Emerging.
Diversification Opportunities for Blackstone Secured and Gmo Emerging
0.68 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Blackstone and Gmo is 0.68. Overlapping area represents the amount of risk that can be diversified away by holding Blackstone Secured Lending and Gmo Emerging Domestic in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Gmo Emerging Domestic 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 Gmo Emerging. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gmo Emerging Domestic has no effect on the direction of Blackstone Secured i.e., Blackstone Secured and Gmo Emerging go up and down completely randomly.
Pair Corralation between Blackstone Secured and Gmo Emerging
If you would invest 3,110 in Blackstone Secured Lending on October 20, 2024 and sell it today you would earn a total of 149.00 from holding Blackstone Secured Lending or generate 4.79% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 5.0% |
| Values | Daily Returns |
Blackstone Secured Lending vs. Gmo Emerging Domestic
Performance |
| Timeline |
| Blackstone Secured |
| Gmo Emerging Domestic |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Blackstone Secured and Gmo Emerging Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Blackstone Secured and Gmo Emerging
The main advantage of trading using opposite Blackstone Secured and Gmo Emerging positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Blackstone Secured position performs unexpectedly, Gmo Emerging 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 Gmo Emerging will offset losses from the drop in Gmo Emerging'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 |
| Gmo Emerging vs. Gmo Emerging Markets | Gmo Emerging vs. Gmo Quality Fund | Gmo Emerging vs. Hartford Schroders Emerging | Gmo Emerging vs. Fidelity Asset Manager |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
Other Complementary Tools
| Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios | |
| Portfolio Optimization Compute new portfolio that will generate highest expected return given your specified tolerance for risk | |
| Stocks Directory Find actively traded stocks across global markets | |
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets | |
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals |