Correlation Between Blackrock and Astor Long/short
Can any of the company-specific risk be diversified away by investing in both Blackrock and Astor Long/short 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 Blackrock and Astor Long/short into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Blackrock Pa Muni and Astor Longshort Fund, you can compare the effects of market volatilities on Blackrock and Astor Long/short 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 Blackrock with a short position of Astor Long/short. Check out your portfolio center. Please also check ongoing floating volatility patterns of Blackrock and Astor Long/short.
Diversification Opportunities for Blackrock and Astor Long/short
0.82 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Blackrock and Astor is 0.82. Overlapping area represents the amount of risk that can be diversified away by holding Blackrock Pa Muni and Astor Longshort Fund in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Astor Long/short and Blackrock 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 Blackrock Pa Muni are associated (or correlated) with Astor Long/short. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Astor Long/short has no effect on the direction of Blackrock i.e., Blackrock and Astor Long/short go up and down completely randomly.
Pair Corralation between Blackrock and Astor Long/short
Assuming the 90 days horizon Blackrock Pa Muni is expected to generate 0.47 times more return on investment than Astor Long/short. However, Blackrock Pa Muni is 2.13 times less risky than Astor Long/short. It trades about 0.41 of its potential returns per unit of risk. Astor Longshort Fund is currently generating about 0.12 per unit of risk. If you would invest 940.00 in Blackrock Pa Muni on August 29, 2025 and sell it today you would earn a total of 47.00 from holding Blackrock Pa Muni or generate 5.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Blackrock Pa Muni vs. Astor Longshort Fund
Performance |
| Timeline |
| Blackrock Pa Muni |
| Astor Long/short |
Blackrock and Astor Long/short Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Blackrock and Astor Long/short
The main advantage of trading using opposite Blackrock and Astor Long/short positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Blackrock position performs unexpectedly, Astor Long/short 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 Astor Long/short will offset losses from the drop in Astor Long/short's long position.| Blackrock vs. Blackrock California Municipal | Blackrock vs. Blackrock Balanced Capital | Blackrock vs. Mkeax | Blackrock vs. Blackrock Eurofund Class |
| Astor Long/short vs. Delaware Investments Ultrashort | Astor Long/short vs. Calvert Short Duration | Astor Long/short vs. Diamond Hill Long Short | Astor Long/short vs. Angel Oak Ultrashort |
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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
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