Correlation Between Calvert Aggressive and Blackstone Alternative
Can any of the company-specific risk be diversified away by investing in both Calvert Aggressive and Blackstone Alternative at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Calvert Aggressive and Blackstone Alternative into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Calvert Aggressive Allocation and Blackstone Alternative Multi Strategy, you can compare the effects of market volatilities on Calvert Aggressive and Blackstone Alternative and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Calvert Aggressive with a short position of Blackstone Alternative. Check out your portfolio center. Please also check ongoing floating volatility patterns of Calvert Aggressive and Blackstone Alternative.
Diversification Opportunities for Calvert Aggressive and Blackstone Alternative
0.86 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Calvert and Blackstone is 0.86. Overlapping area represents the amount of risk that can be diversified away by holding Calvert Aggressive Allocation and Blackstone Alternative Multi S in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Blackstone Alternative and Calvert Aggressive is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Calvert Aggressive Allocation are associated (or correlated) with Blackstone Alternative. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Blackstone Alternative has no effect on the direction of Calvert Aggressive i.e., Calvert Aggressive and Blackstone Alternative go up and down completely randomly.
Pair Corralation between Calvert Aggressive and Blackstone Alternative
Assuming the 90 days horizon Calvert Aggressive Allocation is expected to generate 4.33 times more return on investment than Blackstone Alternative. However, Calvert Aggressive is 4.33 times more volatile than Blackstone Alternative Multi Strategy. It trades about 0.12 of its potential returns per unit of risk. Blackstone Alternative Multi Strategy is currently generating about 0.45 per unit of risk. If you would invest 2,261 in Calvert Aggressive Allocation on June 6, 2025 and sell it today you would earn a total of 93.00 from holding Calvert Aggressive Allocation or generate 4.11% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Calvert Aggressive Allocation vs. Blackstone Alternative Multi S
Performance |
| Timeline |
| Calvert Aggressive |
| Blackstone Alternative |
Calvert Aggressive and Blackstone Alternative Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Calvert Aggressive and Blackstone Alternative
The main advantage of trading using opposite Calvert Aggressive and Blackstone Alternative positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Calvert Aggressive position performs unexpectedly, Blackstone Alternative can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Blackstone Alternative will offset losses from the drop in Blackstone Alternative's long position.| Calvert Aggressive vs. Rationalpier 88 Convertible | Calvert Aggressive vs. Gabelli Convertible And | Calvert Aggressive vs. Calamos Dynamic Convertible | Calvert Aggressive vs. Advent Claymore Convertible |
| Blackstone Alternative vs. Old Westbury Municipal | Blackstone Alternative vs. Ishares Municipal Bond | Blackstone Alternative vs. Fidelity California Municipal | Blackstone Alternative vs. Dws Communications |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Watchlist Optimization module to optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm.
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