Blackstone Alternative Correlations

BXMIX Fund

USD 11.33 0.02 0.18%

The current 90-days correlation between Blackstone Alternative and Blackstone Alternative Multi Strategy is 0.95 (i.e., Almost no diversification). The correlation of Blackstone Alternative 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 Alternative Correlation With Market

Very weak diversification

The correlation between Blackstone Alternative Multi S and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Blackstone Alternative Multi S 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 Alternative Multi Strategy. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Blackstone Mutual Fund

1.0	BXMDX	Blackstone Alternative	Pair Corr
1.0	BXMYX	Blackstone Alternative	Pair Corr
0.62	QSPRX	Aqr Style Premia	Pair Corr
0.71	GARTX	Goldman Sachs Absolute	Pair Corr
0.65	GCRTX	Goldman Sachs Absolute	Pair Corr
0.92	RMQAX	Monthly Rebalance Upward Rally	Pair Corr
0.92	RMQHX	Monthly Rebalance Upward Rally	Pair Corr
0.92	RMQCX	Monthly Rebalance Upward Rally	Pair Corr
0.65	FSELX	Fidelity Select Semi	Pair Corr
0.63	RSNYX	Victory Global Natural	Pair Corr
0.94	DXQLX	Direxion Monthly Nasdaq	Pair Corr
0.62	FIKGX	Fidelity Advisor Sem	Pair Corr
0.62	FELIX	Fidelity Advisor Sem	Pair Corr
0.8	RGGEX	American Funds Global	Pair Corr
0.95	ELFNX	Elfun Trusts Elfun	Pair Corr
0.65	AMECX	Income Fund	Pair Corr
0.9	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.88	WMT	Walmart	Pair Corr
0.7	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.91	CSCO	Cisco Systems	Pair Corr
0.68	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.76	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.67	HD	Home Depot	Pair Corr

Moving against Blackstone Mutual Fund

0.8	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.8	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr
0.73	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.42	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr

Related Correlations Analysis

	BXMDX	BXMYX	GOVXX	DFMAX	CMGIX	NEXTX	WCPSX	FCNTX	VIGIX
BXMDX		1.0	0.52	0.91	0.89	0.62	0.94	0.85	0.96	BXMDX
BXMYX	1.0		0.54	0.91	0.89	0.62	0.93	0.85	0.96	BXMYX
GOVXX	0.52	0.54		0.51	0.49	0.37	0.57	0.67	0.55	GOVXX
DFMAX	0.91	0.91	0.51		0.97	0.76	0.93	0.88	0.95	DFMAX
CMGIX	0.89	0.89	0.49	0.97		0.72	0.95	0.85	0.94	CMGIX
NEXTX	0.62	0.62	0.37	0.76	0.72		0.61	0.64	0.6	NEXTX
WCPSX	0.94	0.93	0.57	0.93	0.95	0.61		0.84	0.97	WCPSX
FCNTX	0.85	0.85	0.67	0.88	0.85	0.64	0.84		0.86	FCNTX
VIGIX	0.96	0.96	0.55	0.95	0.94	0.6	0.97	0.86		VIGIX
	BXMDX	BXMYX	GOVXX	DFMAX	CMGIX	NEXTX	WCPSX	FCNTX	VIGIX

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Risk-Adjusted Indicators

There is a big difference between Blackstone Mutual Fund performing well and Blackstone Alternative Mutual Fund 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 Alternative'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
BXMDX	0.14	0.02	(0.30)	0.23	0.00	(0.19)	0.36	(0.18)	1.08
BXMYX	0.14	0.02	(0.29)	0.25	0.00	(0.19)	0.36	(0.18)	0.99
GOVXX	0.03	0.01	0.00	(0.35)	0.00	0.00	0.00	0.00	1.01
DFMAX	0.52	0.03	0.01	0.13	0.52	(0.57)	0.97	(1.09)	3.81
CMGIX	0.88	0.12	0.12	0.20	0.86	(1.03)	2.00	(1.71)	6.05
NEXTX	0.67	(0.03)	(0.06)	0.05	0.68	(0.79)	1.45	(1.16)	3.37
WCPSX	0.89	0.27	0.19	0.41	0.87	(1.02)	2.02	(1.77)	7.05
FCNTX	0.61	0.10	0.02	0.80	0.94	(0.60)	1.38	(1.34)	5.65
VIGIX	0.64	0.12	0.10	0.25	0.64	(0.66)	1.64	(1.40)	5.19

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