Correlation Between Pintec Technology and Blackstone
Can any of the company-specific risk be diversified away by investing in both Pintec Technology and Blackstone 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 Pintec Technology and Blackstone into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Pintec Technology Holdings and Blackstone Group, you can compare the effects of market volatilities on Pintec Technology and Blackstone 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 Pintec Technology with a short position of Blackstone. Check out your portfolio center. Please also check ongoing floating volatility patterns of Pintec Technology and Blackstone.
Diversification Opportunities for Pintec Technology and Blackstone
-0.52 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Pintec and Blackstone is -0.52. Overlapping area represents the amount of risk that can be diversified away by holding Pintec Technology Holdings and Blackstone Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Blackstone Group and Pintec Technology 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 Pintec Technology Holdings are associated (or correlated) with Blackstone. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Blackstone Group has no effect on the direction of Pintec Technology i.e., Pintec Technology and Blackstone go up and down completely randomly.
Pair Corralation between Pintec Technology and Blackstone
Allowing for the 90-day total investment horizon Pintec Technology Holdings is expected to under-perform the Blackstone. In addition to that, Pintec Technology is 1.64 times more volatile than Blackstone Group. It trades about -0.07 of its total potential returns per unit of risk. Blackstone Group is currently generating about 0.39 per unit of volatility. If you would invest 16,763 in Blackstone Group on August 23, 2024 and sell it today you would earn a total of 2,638 from holding Blackstone Group or generate 15.74% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Pintec Technology Holdings vs. Blackstone Group
Performance |
| Timeline |
| Pintec Technology |
| Blackstone Group |
Pintec Technology and Blackstone Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Pintec Technology and Blackstone
The main advantage of trading using opposite Pintec Technology and Blackstone positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Pintec Technology position performs unexpectedly, Blackstone 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 will offset losses from the drop in Blackstone's long position.| Pintec Technology vs. Senmiao Technology | Pintec Technology vs. X Financial Class | Pintec Technology vs. Yirendai | Pintec Technology vs. Qudian Inc |
| Blackstone vs. T Rowe Price | Blackstone vs. State Street Corp | Blackstone vs. KKR Co LP | Blackstone vs. Brookfield Asset Management |
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 Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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