Blackstone Secured Correlations

Funds . USA . 
Fund . Blackstone Secured Lending
BXSL Fund  USD 32.59  0.07  0.21%   
A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Blackstone Secured moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Blackstone Secured Lending moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Blackstone Secured Correlation With Market

Modest diversification

The correlation between Blackstone Secured Lending and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Blackstone Secured Lending 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 Secured Lending. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with Blackstone Fund

  0.72V Visa Class APairCorr
  0.88FDUS Fidus Investment CorpPairCorr
  0.76AXP American Express Earnings Call This WeekPairCorr
  0.66DFS Discover FinancialPairCorr
  0.68SYF Synchrony Financial Earnings Call TomorrowPairCorr
  0.89GLAD Gladstone CapitalPairCorr
  0.64IPXXU Inflection Point AcqPairCorr
  0.93MAIN Main Street CapitalPairCorr
  0.64PNNT PennantPark InvestmentPairCorr
  0.67PYPL PayPal HoldingsPairCorr
  0.7SEIC SEI InvestmentsPairCorr
  0.83SLRC SLR Investment CorpPairCorr
  0.74SOFI SoFi Technologies Earnings Call This WeekPairCorr

Moving against Blackstone Fund

  0.74WHF WhiteHorse FinancePairCorr
  0.72YRD YirendaiPairCorr
  0.63JXN Jackson FinancialPairCorr
  0.53GAIN Gladstone InvestmentPairCorr
  0.48WU Western UnionPairCorr
  0.48HRZN Horizon TechnologyPairCorr
  0.62PSEC Prospect CapitalPairCorr
  0.61ORGN Origin MaterialsPairCorr
  0.55BITF BitfarmsPairCorr
  0.5MITT AG Mortgage InvestmentPairCorr
  0.34PFLT PennantPark Floating RatePairCorr

Related Correlations Analysis

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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   
FSK
+ 0.91
TSLX
TSLX
+ 0.89
CGBD
FSK
+ 0.75
CGBD
ORCC
+ 0.0
CGBD
ORCC
+ 0.0
OCSL
ORCC
+ 0.0
TSLX
  
High negative correlations   
FSK
- 0.15
OCSL
OCSL
- 0.1
CGBD
TSLX
- 0.01
OCSL
FSK
- 0.0
ORCC
ORCC
- 0.0
TSLX
ORCC
- 0.0
OCSL

Risk-Adjusted Indicators

There is a big difference between Blackstone Fund performing well and Blackstone Secured 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 Secured'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.

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