Correlation Between Blackstone and Wins Finance
Can any of the company-specific risk be diversified away by investing in both Blackstone and Wins Finance 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 Wins Finance into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Blackstone Group and Wins Finance Holdings, you can compare the effects of market volatilities on Blackstone and Wins Finance 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 Wins Finance. Check out your portfolio center. Please also check ongoing floating volatility patterns of Blackstone and Wins Finance.
Diversification Opportunities for Blackstone and Wins Finance
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Blackstone and Wins is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Blackstone Group and Wins Finance Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Wins Finance 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 Wins Finance. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Wins Finance Holdings has no effect on the direction of Blackstone i.e., Blackstone and Wins Finance go up and down completely randomly.
Pair Corralation between Blackstone and Wins Finance
If you would invest (100.00) in Wins Finance Holdings on January 26, 2024 and sell it today you would earn a total of 100.00 from holding Wins Finance Holdings or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Blackstone Group vs. Wins Finance Holdings
Performance |
| Timeline |
| Blackstone Group |
| Wins Finance Holdings |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Blackstone and Wins Finance Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Blackstone and Wins Finance
The main advantage of trading using opposite Blackstone and Wins Finance positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Blackstone position performs unexpectedly, Wins Finance 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 Wins Finance will offset losses from the drop in Wins Finance's long position.| Blackstone vs. T Rowe Price | Blackstone vs. State Street Corp | Blackstone vs. KKR Co LP | Blackstone vs. Brookfield Asset Management |
| Wins Finance vs. Western Union Co | Wins Finance vs. Silo Pharma | Wins Finance vs. Shoe Carnival | Wins Finance vs. Freedom Bank of |
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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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