Blackstone Correlations

BX Stock

USD 157.23 1.15 0.73%

The current 90-days correlation between Blackstone Group and T Rowe Price is 0.07 (i.e., Significant 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

Significant diversification

The correlation between Blackstone Group and DJI is 0.02 (i.e., Significant 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

0.78	DHIL	Diamond Hill Investment Earnings Call Tomorrow	Pair Corr
0.76	AMG	Affiliated Managers	Pair Corr
0.65	BEN	Franklin Resources	Pair Corr
0.7	FHI	Federated Investors	Pair Corr
0.61	JXN	Jackson Financial	Pair Corr
0.64	PYPL	PayPal Holdings	Pair Corr
0.69	APAM	Artisan Partners Asset	Pair Corr
0.83	AX	Axos Financial	Pair Corr
0.67	BY	Byline Bancorp	Pair Corr

Moving against Blackstone Stock

0.59	TSLX	Sixth Street Specialty	Pair Corr
0.53	V	Visa Class A	Pair Corr
0.53	FDUS	Fidus Investment Corp	Pair Corr
0.52	GBDC	Golub Capital BDC	Pair Corr
0.42	CGBD	Carlyle Secured Lending	Pair Corr
0.38	MA	Mastercard	Pair Corr
0.6	LX	Lexinfintech Holdings	Pair Corr
0.5	GL	Globe Life	Pair Corr
0.41	C	Citigroup	Pair Corr
0.41	DB	Deutsche Bank AG	Pair Corr
0.4	PT	Pintec Technology	Pair Corr

Related Correlations Analysis

	TROW	STT	KKR	BAM	APO	CG	ARES	OWL	BN	TPG
TROW		-0.08	0.66	-0.03	0.78	0.21	-0.38	0.16	0.13	0.85	TROW
STT	-0.08		0.23	0.57	0.13	0.49	0.63	0.52	0.51	-0.06	STT
KKR	0.66	0.23		0.18	0.61	0.7	0.24	0.73	0.28	0.86	KKR
BAM	-0.03	0.57	0.18		0.24	0.6	0.55	0.47	0.86	-0.07	BAM
APO	0.78	0.13	0.61	0.24		0.38	-0.01	0.36	0.33	0.67	APO
CG	0.21	0.49	0.7	0.6	0.38		0.68	0.76	0.6	0.46	CG
ARES	-0.38	0.63	0.24	0.55	-0.01	0.68		0.67	0.49	-0.15	ARES
OWL	0.16	0.52	0.73	0.47	0.36	0.76	0.67		0.4	0.44	OWL
BN	0.13	0.51	0.28	0.86	0.33	0.6	0.49	0.4		0.09	BN
TPG	0.85	-0.06	0.86	-0.07	0.67	0.46	-0.15	0.44	0.09		TPG
	TROW	STT	KKR	BAM	APO	CG	ARES	OWL	BN	TPG

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

TPG	+ 0.86	KKR
BN	+ 0.86	BAM
TPG	+ 0.85	TROW
APO	+ 0.78	TROW
OWL	+ 0.76	CG
OWL	+ 0.73	KKR

High negative correlations

ARES	- 0.38	TROW
TPG	- 0.15	ARES
STT	- 0.08	TROW
TPG	- 0.07	BAM
TPG	- 0.06	STT
BAM	- 0.03	TROW

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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
TROW	0.91	(0.15)	0.00	(0.21)	0.00	0.00	1.69	(2.05)	6.99
STT	0.95	0.06	0.04	0.07	1.45	(0.93)	1.40	(2.85)	7.93
KKR	1.69	(0.18)	0.00	(0.14)	0.00	0.00	3.61	(3.70)	13.29
BAM	1.40	0.08	0.04	(0.18)	2.09	(1.45)	3.18	(2.87)	10.20
APO	1.47	(0.12)	0.00	1.65	0.00	0.00	2.93	(3.93)	9.30
CG	1.51	(0.01)	0.00	(0.47)	2.13	(1.47)	3.03	(3.68)	10.04
ARES	1.38	0.06	0.03	1.18	2.14	(1.23)	2.41	(3.72)	8.71
OWL	1.74	(0.02)	0.00	(0.03)	0.00	0.00	3.65	(4.20)	11.59
BN	1.25	0.03	0.02	(0.10)	1.91	(1.19)	2.63	(1.95)	8.47
TPG	1.53	(0.20)	0.00	(0.21)	0.00	0.00	3.04	(3.75)	9.04

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