Correlation Between Blackstone Secured and Fundvantage Trust
Can any of the company-specific risk be diversified away by investing in both Blackstone Secured and Fundvantage Trust 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 Fundvantage Trust 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 Fundvantage Trust , you can compare the effects of market volatilities on Blackstone Secured and Fundvantage Trust 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 Fundvantage Trust. Check out your portfolio center. Please also check ongoing floating volatility patterns of Blackstone Secured and Fundvantage Trust.
Diversification Opportunities for Blackstone Secured and Fundvantage Trust
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Blackstone and Fundvantage is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Blackstone Secured Lending and Fundvantage Trust in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Fundvantage Trust 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 Fundvantage Trust. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Fundvantage Trust has no effect on the direction of Blackstone Secured i.e., Blackstone Secured and Fundvantage Trust go up and down completely randomly.
Pair Corralation between Blackstone Secured and Fundvantage Trust
If you would invest 3,103 in Blackstone Secured Lending on October 9, 2024 and sell it today you would earn a total of 62.00 from holding Blackstone Secured Lending or generate 2.0% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 5.26% |
Values | Daily Returns |
Blackstone Secured Lending vs. Fundvantage Trust
Performance |
Timeline |
Blackstone Secured |
Fundvantage Trust |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Blackstone Secured and Fundvantage Trust Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Blackstone Secured and Fundvantage Trust
The main advantage of trading using opposite Blackstone Secured and Fundvantage Trust positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Blackstone Secured position performs unexpectedly, Fundvantage Trust 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 Fundvantage Trust will offset losses from the drop in Fundvantage Trust'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 |
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 Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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