Correlation Between Carlyle Secured and Blackstone Secured
Can any of the company-specific risk be diversified away by investing in both Carlyle Secured and Blackstone Secured 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 Carlyle Secured and Blackstone Secured into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Carlyle Secured Lending and Blackstone Secured Lending, you can compare the effects of market volatilities on Carlyle Secured and Blackstone Secured 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 Secured with a short position of Blackstone Secured. Check out your portfolio center. Please also check ongoing floating volatility patterns of Carlyle Secured and Blackstone Secured.
Diversification Opportunities for Carlyle Secured and Blackstone Secured
0.24 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Carlyle and Blackstone is 0.24. Overlapping area represents the amount of risk that can be diversified away by holding Carlyle Secured Lending and Blackstone Secured Lending in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Blackstone Secured and Carlyle 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 Carlyle Secured Lending are associated (or correlated) with Blackstone Secured. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Blackstone Secured has no effect on the direction of Carlyle Secured i.e., Carlyle Secured and Blackstone Secured go up and down completely randomly.
Pair Corralation between Carlyle Secured and Blackstone Secured
Given the investment horizon of 90 days Carlyle Secured is expected to generate 3.46 times less return on investment than Blackstone Secured. In addition to that, Carlyle Secured is 1.23 times more volatile than Blackstone Secured Lending. It trades about 0.02 of its total potential returns per unit of risk. Blackstone Secured Lending is currently generating about 0.08 per unit of volatility. If you would invest 2,995 in Blackstone Secured Lending on September 1, 2024 and sell it today you would earn a total of 263.00 from holding Blackstone Secured Lending or generate 8.78% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Carlyle Secured Lending vs. Blackstone Secured Lending
Performance |
| Timeline |
| Carlyle Secured Lending |
| Blackstone Secured |
Carlyle Secured and Blackstone Secured Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Carlyle Secured and Blackstone Secured
The main advantage of trading using opposite Carlyle Secured and Blackstone Secured positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Carlyle Secured position performs unexpectedly, Blackstone Secured 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 Blackstone Secured will offset losses from the drop in Blackstone Secured's long position.| Carlyle Secured vs. Visa Class A | Carlyle Secured vs. Diamond Hill Investment | Carlyle Secured vs. Distoken Acquisition | Carlyle Secured vs. Associated Capital Group |
| 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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
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