Correlation Between Blackstone Secured and Mfs Value
Can any of the company-specific risk be diversified away by investing in both Blackstone Secured and Mfs Value 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 Mfs Value 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 Mfs Value Fund, you can compare the effects of market volatilities on Blackstone Secured and Mfs Value 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 Mfs Value. Check out your portfolio center. Please also check ongoing floating volatility patterns of Blackstone Secured and Mfs Value.
Diversification Opportunities for Blackstone Secured and Mfs Value
-0.67 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Blackstone and Mfs is -0.67. Overlapping area represents the amount of risk that can be diversified away by holding Blackstone Secured Lending and Mfs Value Fund in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mfs Value Fund 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 Mfs Value. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Mfs Value Fund has no effect on the direction of Blackstone Secured i.e., Blackstone Secured and Mfs Value go up and down completely randomly.
Pair Corralation between Blackstone Secured and Mfs Value
Given the investment horizon of 90 days Blackstone Secured Lending is expected to generate 1.22 times more return on investment than Mfs Value. However, Blackstone Secured is 1.22 times more volatile than Mfs Value Fund. It trades about 0.12 of its potential returns per unit of risk. Mfs Value Fund is currently generating about 0.04 per unit of risk. If you would invest 1,968 in Blackstone Secured Lending on November 1, 2024 and sell it today you would earn a total of 1,340 from holding Blackstone Secured Lending or generate 68.09% 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. Mfs Value Fund
Performance |
| Timeline |
| Blackstone Secured |
| Mfs Value Fund |
Blackstone Secured and Mfs Value Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Blackstone Secured and Mfs Value
The main advantage of trading using opposite Blackstone Secured and Mfs Value positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Blackstone Secured position performs unexpectedly, Mfs Value 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 Mfs Value will offset losses from the drop in Mfs Value'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 |
| Mfs Value vs. Blackstone Secured Lending | Mfs Value vs. Putnam Global Financials | Mfs Value vs. Rmb Mendon Financial | Mfs Value vs. Davis Financial Fund |
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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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