Correlation Between Blackstone and Jupai Holdings
Can any of the company-specific risk be diversified away by investing in both Blackstone and Jupai Holdings 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 Jupai Holdings into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Blackstone Group and Jupai Holdings, you can compare the effects of market volatilities on Blackstone and Jupai Holdings 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 Jupai Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of Blackstone and Jupai Holdings.
Diversification Opportunities for Blackstone and Jupai Holdings
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Blackstone and Jupai is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Blackstone Group and Jupai Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jupai Holdings 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 Jupai Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jupai Holdings has no effect on the direction of Blackstone i.e., Blackstone and Jupai Holdings go up and down completely randomly.
Pair Corralation between Blackstone and Jupai Holdings
If you would invest 8,683 in Blackstone Group on January 25, 2024 and sell it today you would earn a total of 3,748 from holding Blackstone Group or generate 43.16% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Blackstone Group vs. Jupai Holdings
Performance |
| Timeline |
| Blackstone Group |
| Jupai Holdings |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Blackstone and Jupai Holdings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Blackstone and Jupai Holdings
The main advantage of trading using opposite Blackstone and Jupai Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Blackstone position performs unexpectedly, Jupai Holdings 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 Jupai Holdings will offset losses from the drop in Jupai Holdings' long position.| Blackstone vs. T Rowe Price | Blackstone vs. State Street Corp | Blackstone vs. KKR Co LP | Blackstone vs. Brookfield Asset 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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
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