Correlation Between Blackstone Alternative and Neuberger Berman

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Can any of the company-specific risk be diversified away by investing in both Blackstone Alternative and Neuberger Berman 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 Alternative and Neuberger Berman into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Blackstone Alternative Multi Strategy and Neuberger Berman Absolute, you can compare the effects of market volatilities on Blackstone Alternative and Neuberger Berman 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 Alternative with a short position of Neuberger Berman. Check out your portfolio center. Please also check ongoing floating volatility patterns of Blackstone Alternative and Neuberger Berman.

Diversification Opportunities for Blackstone Alternative and Neuberger Berman

0.0
  Correlation Coefficient

Pay attention - limited upside

The 3 months correlation between Blackstone and Neuberger is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Blackstone Alternative Multi S and Neuberger Berman Absolute in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Neuberger Berman Absolute and Blackstone Alternative 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 Alternative Multi Strategy are associated (or correlated) with Neuberger Berman. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Neuberger Berman Absolute has no effect on the direction of Blackstone Alternative i.e., Blackstone Alternative and Neuberger Berman go up and down completely randomly.

Pair Corralation between Blackstone Alternative and Neuberger Berman

If you would invest  0.00  in Neuberger Berman Absolute on March 8, 2024 and sell it today you would earn a total of  0.00  from holding Neuberger Berman Absolute or generate 0.0% return on investment over 90 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy4.76%
ValuesDaily Returns

Blackstone Alternative Multi S  vs.  Neuberger Berman Absolute

 Performance 
       Timeline  
Blackstone Alternative 

Risk-Adjusted Performance

10 of 100

 
Weak
 
Strong
OK
Compared to the overall equity markets, risk-adjusted returns on investments in Blackstone Alternative Multi Strategy are ranked lower than 10 (%) of all funds and portfolios of funds over the last 90 days. In spite of fairly strong forward indicators, Blackstone Alternative is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.
Neuberger Berman Absolute 

Risk-Adjusted Performance

7 of 100

 
Weak
 
Strong
OK
Compared to the overall equity markets, risk-adjusted returns on investments in Neuberger Berman Absolute are ranked lower than 7 (%) of all funds and portfolios of funds over the last 90 days. In spite of fairly strong forward indicators, Neuberger Berman is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.

Blackstone Alternative and Neuberger Berman Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with Blackstone Alternative and Neuberger Berman

The main advantage of trading using opposite Blackstone Alternative and Neuberger Berman positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Blackstone Alternative position performs unexpectedly, Neuberger Berman 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 Neuberger Berman will offset losses from the drop in Neuberger Berman's long position.
The idea behind Blackstone Alternative Multi Strategy and Neuberger Berman Absolute pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
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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 File Import module to quickly import all of your third-party portfolios from your local drive in csv format.

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