Correlation Between Carlyle and BHCCN
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By analyzing existing cross correlation between Carlyle Group and BHCCN 11 30 SEP 28, you can compare the effects of market volatilities on Carlyle and BHCCN 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 Carlyle with a short position of BHCCN. Check out your portfolio center. Please also check ongoing floating volatility patterns of Carlyle and BHCCN.
Diversification Opportunities for Carlyle and BHCCN
Good diversification
The 3 months correlation between Carlyle and BHCCN is -0.16. Overlapping area represents the amount of risk that can be diversified away by holding Carlyle Group and BHCCN 11 30 SEP 28 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BHCCN 11 30 and Carlyle 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 Carlyle Group are associated (or correlated) with BHCCN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BHCCN 11 30 has no effect on the direction of Carlyle i.e., Carlyle and BHCCN go up and down completely randomly.
Pair Corralation between Carlyle and BHCCN
Allowing for the 90-day total investment horizon Carlyle Group is expected to under-perform the BHCCN. In addition to that, Carlyle is 1.08 times more volatile than BHCCN 11 30 SEP 28. It trades about -0.32 of its total potential returns per unit of risk. BHCCN 11 30 SEP 28 is currently generating about -0.05 per unit of volatility. If you would invest 9,268 in BHCCN 11 30 SEP 28 on December 8, 2024 and sell it today you would lose (318.00) from holding BHCCN 11 30 SEP 28 or give up 3.43% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Carlyle Group vs. BHCCN 11 30 SEP 28
Performance |
| Timeline |
| Carlyle Group |
| BHCCN 11 30 |
Carlyle and BHCCN Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Carlyle and BHCCN
The main advantage of trading using opposite Carlyle and BHCCN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Carlyle position performs unexpectedly, BHCCN 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 BHCCN will offset losses from the drop in BHCCN's long position.| Carlyle vs. Apollo Global Management | ||
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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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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