Blackstone Correlations

BX Stock

USD 148.29 0.46 0.31%

The current 90-days correlation between Blackstone Group and T Rowe Price is 0.58 (i.e., Very weak diversification). The correlation of Blackstone is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Blackstone Correlation With Market

Poor diversification

The correlation between Blackstone Group and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Blackstone Group and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Blackstone Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving together with Blackstone Stock

0.87	MC	Moelis	Pair Corr
0.63	MS	Morgan Stanley	Pair Corr
0.78	WD	Walker Dunlop	Pair Corr
0.85	AXP	American Express Sell-off Trend	Pair Corr
0.61	CIM	Chimera Investment	Pair Corr
0.91	PYPL	PayPal Holdings Aggressive Push	Pair Corr
0.62	ALLY	Ally Financial Normal Trading	Pair Corr
0.91	SOFI	SoFi Technologies Aggressive Push	Pair Corr
0.89	AX	Axos Financial	Pair Corr
0.81	BN	Brookfield Corp	Pair Corr
0.75	BY	Byline Bancorp	Pair Corr
0.92	CG	Carlyle Group Normal Trading	Pair Corr
0.95	CM	Canadian Imperial Bank	Pair Corr

Moving against Blackstone Stock

0.72	TWO	Two Harbors Investments	Pair Corr
0.64	CB	Chubb	Pair Corr
0.57	BBUC	Brookfield Business Corp	Pair Corr
0.55	MFA	MFA Financial	Pair Corr
0.42	FORLU	Four Leaf Acquisition	Pair Corr
0.4	V	Visa Class A	Pair Corr
0.39	PT	Pintec Technology	Pair Corr
0.78	VBFC	Village Bank	Pair Corr
0.76	DB	Deutsche Bank AG	Pair Corr
0.73	LU	Lufax Holding	Pair Corr
0.71	LX	Lexinfintech Holdings	Pair Corr
0.71	TECTP	Tectonic Financial	Pair Corr
0.62	XP	Xp Inc	Pair Corr
0.58	GL	Globe Life	Pair Corr
0.55	HG	Hamilton Insurance Group, Normal Trading	Pair Corr

Related Correlations Analysis

	TROW	STT	KKR	BAM	APO	CG	ARES	OWL	BN	TPG
TROW		0.83	0.92	0.66	0.95	0.85	0.85	0.87	0.75	0.95	TROW
STT	0.83		0.83	0.86	0.82	0.9	0.91	0.86	0.95	0.81	STT
KKR	0.92	0.83		0.76	0.9	0.92	0.93	0.94	0.81	0.97	KKR
BAM	0.66	0.86	0.76		0.63	0.77	0.79	0.75	0.88	0.69	BAM
APO	0.95	0.82	0.9	0.63		0.86	0.85	0.92	0.78	0.94	APO
CG	0.85	0.9	0.92	0.77	0.86		0.96	0.94	0.9	0.9	CG
ARES	0.85	0.91	0.93	0.79	0.85	0.96		0.95	0.92	0.89	ARES
OWL	0.87	0.86	0.94	0.75	0.92	0.94	0.95		0.9	0.92	OWL
BN	0.75	0.95	0.81	0.88	0.78	0.9	0.92	0.9		0.77	BN
TPG	0.95	0.81	0.97	0.69	0.94	0.9	0.89	0.92	0.77		TPG
	TROW	STT	KKR	BAM	APO	CG	ARES	OWL	BN	TPG

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Risk-Adjusted Indicators

There is a big difference between Blackstone Stock performing well and Blackstone Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Blackstone's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
TROW	1.18	(0.29)	(0.36)	1.91	(3.64)	6.99
STT	1.20	(0.06)	(0.12)	2.38	(3.40)	9.98
KKR	2.15	(0.46)	0.82	3.63	(5.61)	13.96
BAM	1.88	(0.27)	0.42	2.94	(5.34)	11.24
APO	1.79	(0.18)	(0.20)	3.45	(4.09)	8.29
CG	2.04	(0.13)	(0.14)	3.02	(5.42)	10.93
ARES	1.83	(0.16)	(0.17)	2.70	(5.11)	11.83
OWL	2.12	(0.11)	(0.14)	3.75	(4.96)	9.33
BN	1.59	(0.02)	(0.09)	3.06	(4.81)	8.41
TPG	1.92	(0.50)	1.33	3.04	(4.92)	10.89

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