Blackstone Alternative Correlations

Mutual Funds . USA . 
Fund . Blackstone Alternative Multi Strategy
BXMDX Fund  USD 10.95  0.01  0.09%   
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

Good diversification

The correlation between Blackstone Alternative Multi S and DJI is -0.18 (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 unemployment.

Moving together with Blackstone Mutual Fund

  1.0BXMIX Blackstone AlternativePairCorr
  1.0BXMYX Blackstone AlternativePairCorr
  0.61BIMBX Blackrock AlternativePairCorr
  0.67QSPRX Aqr Style PremiaPairCorr
  0.97GARTX Goldman Sachs AbsolutePairCorr
  0.97GCRTX Goldman Sachs AbsolutePairCorr
  0.95VSTSX Vanguard Total StockPairCorr
  0.95VSMPX Vanguard Total StockPairCorr
  0.95VITSX Vanguard Total StockPairCorr
  0.95VFFSX Vanguard 500 IndexPairCorr
  0.95VFIAX Vanguard 500 IndexPairCorr
  0.97VTISX Vanguard Total InterPairCorr
  0.97VTSNX Vanguard Total InterPairCorr
  0.97VTPSX Vanguard Total InterPairCorr
  0.95VINIX Vanguard InstitutionalPairCorr
  0.95VTSAX Vanguard Total StockPairCorr
  0.89IEFCX Invesco EnergyPairCorr
  0.95PHJBX Principal Lifetime HybridPairCorr
  0.93OLVTX Jpmorgan Large CapPairCorr
  0.82IGBIX Voya Global BondPairCorr
  0.91TRZAX T Rowe PricePairCorr
  0.95GSTIX Goldman Sachs StrategicPairCorr
  0.87MGBOX Mfs Global BondPairCorr
  0.82JANFX Janus Flexible BondPairCorr
  0.97CCHTX American Funds 2045PairCorr
  0.94MOSFX Massmutual SelectPairCorr
  0.98SVSAX Saat Servative StrategyPairCorr
  0.95TBDQX Pgim Jennison DiversifiedPairCorr
  0.92MEIHX Mfs Value FundPairCorr
  0.92FSLBX Brokerage And InvestmentPairCorr
  0.94ACFOX Focused Dynamic GrowthPairCorr
  0.8OEPIX Oil Equipment ServicesPairCorr
  0.95PEIRX Pnc International EquityPairCorr
  0.95GGEYX Guidestone Fds GrowthPairCorr
  0.73DSBIX Domini Impact BondPairCorr
  0.82BOSOX Boston Trust SmallPairCorr

Related Correlations Analysis

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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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
BXMIX  0.12  0.06 (0.45)(1.60) 0.00 
(0.17)
 0.37 
(0.19)
 0.94 
BXMDX  0.12  0.06 (0.48)(1.58) 0.00 
(0.19)
 0.37 
(0.19)
 0.95 
BXMYX  0.11  0.06 (0.45)(2.24) 0.00 
(0.17)
 0.28 
(0.19)
 0.94 
UINQX  0.80  0.18  0.16  0.31  0.59 
(0.91)
 2.39 
(1.28)
 5.37 
SKSRX  0.55  0.10 (0.09)(0.25) 0.59 
(0.64)
 1.23 
(0.70)
 4.08 
CGOAX  1.02  0.38  0.18 (1.65) 0.84 
(1.18)
 2.51 
(1.62)
 7.32 
SDYAX  0.62  0.13  0.12  0.28  0.55 
(0.71)
 1.91 
(0.98)
 4.47 
HCMQX  0.73  0.12  0.12  0.27  0.53 
(0.86)
 1.57 
(1.44)
 5.22 
IOBAX  0.11  0.04 (0.41)(4.46) 0.00 
(0.17)
 0.24 
(0.12)
 1.09 
VFINX  0.66  0.12  0.11  0.26  0.54 
(0.77)
 2.02 
(1.11)
 4.88 

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