Pair Correlation Between Blackstone Group and Carlyle Group

This module allows you to analyze existing cross correlation between The Blackstone Group L P and The Carlyle Group LP. You can compare the effects of market volatilities on Blackstone Group and Carlyle Group 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 Group with a short position of Carlyle Group. See also your portfolio center. Please also check ongoing floating volatility patterns of Blackstone Group and Carlyle Group.
Investment Horizon     30 Days    Login   to change
Symbolsvs
 The Blackstone Group L P  vs   The Carlyle Group LP
 Performance (%) 
      Timeline 

Pair Volatility

Allowing for the 30-days total investment horizon, The Blackstone Group L P is expected to under-perform the Carlyle Group. But the stock apears to be less risky and, when comparing its historical volatility, The Blackstone Group L P is 2.44 times less risky than Carlyle Group. The stock trades about -0.08 of its potential returns per unit of risk. The The Carlyle Group LP is currently generating about 0.1 of returns per unit of risk over similar time horizon. If you would invest  2,110  in The Carlyle Group LP on November 17, 2017 and sell it today you would earn a total of  65  from holding The Carlyle Group LP or generate 3.08% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Blackstone Group and Carlyle Group
0.49

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy95.24%
ValuesDaily Returns

Diversification

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding The Blackstone Group L P and The Carlyle Group LP in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on The Carlyle Group and Blackstone Group 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 The Blackstone Group L P are associated (or correlated) with Carlyle Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of The Carlyle Group has no effect on the direction of Blackstone Group i.e. Blackstone Group and Carlyle Group go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

The Blackstone Group

  
0 

Risk-Adjusted Performance

Over the last 30 days The Blackstone Group L P has generated negative risk-adjusted returns adding no value to investors with long positions.

The Carlyle Group

  
6 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in The Carlyle Group LP are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.