Correlation Between MAST GLOBAL and Blackstone
Can any of the company-specific risk be diversified away by investing in both MAST GLOBAL and Blackstone 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 MAST GLOBAL and Blackstone into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between MAST GLOBAL BATTERY and Blackstone Group, you can compare the effects of market volatilities on MAST GLOBAL and Blackstone 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 MAST GLOBAL with a short position of Blackstone. Check out your portfolio center. Please also check ongoing floating volatility patterns of MAST GLOBAL and Blackstone.
Diversification Opportunities for MAST GLOBAL and Blackstone
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between MAST and Blackstone is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding MAST GLOBAL BATTERY and Blackstone Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Blackstone Group and MAST GLOBAL 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 MAST GLOBAL BATTERY are associated (or correlated) with Blackstone. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Blackstone Group has no effect on the direction of MAST GLOBAL i.e., MAST GLOBAL and Blackstone go up and down completely randomly.
Pair Corralation between MAST GLOBAL and Blackstone
If you would invest 8,814 in Blackstone Group on January 25, 2024 and sell it today you would earn a total of 3,564 from holding Blackstone Group or generate 40.44% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
MAST GLOBAL BATTERY vs. Blackstone Group
Performance |
| Timeline |
| MAST GLOBAL BATTERY |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Blackstone Group |
MAST GLOBAL and Blackstone Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MAST GLOBAL and Blackstone
The main advantage of trading using opposite MAST GLOBAL and Blackstone positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MAST GLOBAL position performs unexpectedly, Blackstone 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 Blackstone will offset losses from the drop in Blackstone's long position.| MAST GLOBAL vs. Apollo Senior Floating | MAST GLOBAL vs. Eaton Vance Senior | MAST GLOBAL vs. Pioneer Floating Rate | MAST GLOBAL vs. Eaton Vance Floating |
| Blackstone vs. T Rowe Price | Blackstone vs. State Street Corp | Blackstone vs. KKR Co LP | Blackstone vs. Brookfield Asset Management |
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 Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
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