Correlation Between Blackstone and MAST GLOBAL
Can any of the company-specific risk be diversified away by investing in both Blackstone and MAST GLOBAL 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 and MAST GLOBAL into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Blackstone Group and MAST GLOBAL BATTERY, you can compare the effects of market volatilities on Blackstone and MAST GLOBAL 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 with a short position of MAST GLOBAL. Check out your portfolio center. Please also check ongoing floating volatility patterns of Blackstone and MAST GLOBAL.
Diversification Opportunities for Blackstone and MAST GLOBAL
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Blackstone and MAST is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Blackstone Group and MAST GLOBAL BATTERY in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MAST GLOBAL BATTERY and Blackstone 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 Group are associated (or correlated) with MAST GLOBAL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MAST GLOBAL BATTERY has no effect on the direction of Blackstone i.e., Blackstone and MAST GLOBAL go up and down completely randomly.
Pair Corralation between Blackstone and MAST GLOBAL
If you would invest 10,461 in Blackstone Group on January 24, 2024 and sell it today you would earn a total of 1,748 from holding Blackstone Group or generate 16.71% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Blackstone Group vs. MAST GLOBAL BATTERY
Performance |
| Timeline |
| Blackstone Group |
| MAST GLOBAL BATTERY |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Blackstone and MAST GLOBAL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Blackstone and MAST GLOBAL
The main advantage of trading using opposite Blackstone and MAST GLOBAL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Blackstone position performs unexpectedly, MAST GLOBAL 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 MAST GLOBAL will offset losses from the drop in MAST GLOBAL's long position.| Blackstone vs. T Rowe Price | Blackstone vs. State Street Corp | Blackstone vs. KKR Co LP | Blackstone vs. Brookfield Asset Management |
| MAST GLOBAL vs. Eaton Vance Risk | MAST GLOBAL vs. Nuveen Floating Rate | MAST GLOBAL vs. MFS High Yield | MAST GLOBAL vs. MFS High Income |
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 Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.
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