Correlation Between Blackstone Secured and Sp 500
Can any of the company-specific risk be diversified away by investing in both Blackstone Secured and Sp 500 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 Sp 500 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 Sp 500 Equal, you can compare the effects of market volatilities on Blackstone Secured and Sp 500 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 Sp 500. Check out your portfolio center. Please also check ongoing floating volatility patterns of Blackstone Secured and Sp 500.
Diversification Opportunities for Blackstone Secured and Sp 500
0.47 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Blackstone and INDEX is 0.47. Overlapping area represents the amount of risk that can be diversified away by holding Blackstone Secured Lending and Sp 500 Equal in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sp 500 Equal 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 Sp 500. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sp 500 Equal has no effect on the direction of Blackstone Secured i.e., Blackstone Secured and Sp 500 go up and down completely randomly.
Pair Corralation between Blackstone Secured and Sp 500
Given the investment horizon of 90 days Blackstone Secured Lending is expected to generate 0.87 times more return on investment than Sp 500. However, Blackstone Secured Lending is 1.15 times less risky than Sp 500. It trades about 0.15 of its potential returns per unit of risk. Sp 500 Equal is currently generating about -0.19 per unit of risk. If you would invest 3,103 in Blackstone Secured Lending on October 10, 2024 and sell it today you would earn a total of 85.00 from holding Blackstone Secured Lending or generate 2.74% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Blackstone Secured Lending vs. Sp 500 Equal
Performance |
| Timeline |
| Blackstone Secured |
| Sp 500 Equal |
Blackstone Secured and Sp 500 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Blackstone Secured and Sp 500
The main advantage of trading using opposite Blackstone Secured and Sp 500 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Blackstone Secured position performs unexpectedly, Sp 500 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 Sp 500 will offset losses from the drop in Sp 500'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 |
| Sp 500 vs. Alger Health Sciences | Sp 500 vs. Blackrock Health Sciences | Sp 500 vs. Tekla Healthcare Investors | Sp 500 vs. Prudential Health Sciences |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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