Blackstone Alternative Correlations

BXMIX Fund

USD 11.27 0.04 0.36%

The current 90-days correlation between Blackstone Alternative and Franklin Emerging Market is 0.17 (i.e., Average 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

Good diversification

The correlation between Blackstone Alternative Multi S and DJI is -0.14 (i.e., Good 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
0.99	BXMYX	Blackstone Alternative	Pair Corr
0.95	GARTX	Goldman Sachs Absolute	Pair Corr
0.94	GCRTX	Goldman Sachs Absolute	Pair Corr
0.93	VSTSX	Vanguard Total Stock	Pair Corr
0.93	VSMPX	Vanguard Total Stock	Pair Corr
0.92	VITSX	Vanguard Total Stock	Pair Corr
0.93	VFFSX	Vanguard 500 Index	Pair Corr
0.92	VFIAX	Vanguard 500 Index	Pair Corr
0.93	VTISX	Vanguard Total Inter	Pair Corr
0.94	VTSNX	Vanguard Total Inter	Pair Corr
0.93	VTPSX	Vanguard Total Inter	Pair Corr
0.92	VINIX	Vanguard Institutional	Pair Corr
0.93	VTSAX	Vanguard Total Stock	Pair Corr
0.91	HEIIX	Hennessy Equity And	Pair Corr
0.95	GOICX	Goldman Sachs Growth	Pair Corr
0.95	LTINX	Principal Lifetime 2015	Pair Corr
0.93	GCTIX	Goldman Sachs Tax	Pair Corr
0.92	GAOSX	Jpmorgan Global Allo	Pair Corr
0.91	FANCX	Fidelity Short Term	Pair Corr
0.87	AIAVX	Inflation Adjusted Bond	Pair Corr
0.9	MINGX	Mfs International Value	Pair Corr
0.92	BILTX	Doubleline Infrastructure	Pair Corr
0.95	LMIYX	Lord Abbett Micro	Pair Corr
0.94	GBAYX	Balanced Allocation	Pair Corr
0.93	VWELX	Vanguard Wellington	Pair Corr
0.96	PTIPX	Pimco Rae Fundamental	Pair Corr
0.92	ISZIX	Voya Solution 2025	Pair Corr
0.92	EMF	Templeton Emerging	Pair Corr
0.95	GTCIX	International Portfolio	Pair Corr
0.89	CAACX	Calvert Aggressive	Pair Corr
0.91	RQEAX	Resq Dynamic Allocation	Pair Corr
0.92	BSPIX	Blackrock Sp 500	Pair Corr

Moving against Blackstone Mutual Fund

0.32

BMBCX

Blackrock Alternative

Pair Corr

Related Correlations Analysis

	FEMDX	HLEMX	DBELX	RALAX	PACEX	ZEMIX	PCEMX
FEMDX		0.95	0.95	0.97	0.99	0.95	0.95	FEMDX
HLEMX	0.95		0.95	0.96	0.94	0.97	0.98	HLEMX
DBELX	0.95	0.95		0.97	0.93	0.94	0.96	DBELX
RALAX	0.97	0.96	0.97		0.96	0.96	0.97	RALAX
PACEX	0.99	0.94	0.93	0.96		0.94	0.94	PACEX
ZEMIX	0.95	0.97	0.94	0.96	0.94		0.99	ZEMIX
PCEMX	0.95	0.98	0.96	0.97	0.94	0.99		PCEMX
	FEMDX	HLEMX	DBELX	RALAX	PACEX	ZEMIX	PCEMX

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
FEMDX	0.14	0.08	(0.23)	(2.03)	0.00	(0.20)	0.40	(0.16)	0.91
HLEMX	0.50	0.06	0.03	0.21	0.37	(0.56)	1.33	(1.02)	3.75
DBELX	0.28	0.06	(0.12)	1.14	0.00	(0.35)	0.65	(0.34)	1.75
RALAX	0.39	0.12	(0.02)	(0.79)	0.25	(0.46)	0.96	(0.62)	1.98
PACEX	0.10	0.05	(0.52)	(6.64)	0.00	(0.17)	0.33	(0.11)	0.78
ZEMIX	0.57	0.07	0.04	0.23	0.43	(0.71)	1.34	(1.07)	4.17
PCEMX	0.53	0.09	0.05	0.34	0.31	(0.63)	1.27	(0.92)	3.37

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